Financial Education - Invoicing mechanism within the technical administrative and accounting jargon

In technical administrative and accounting jargon, an entity shall disclose the following the amount of exchange differences recognized in the results during the period, when the currency is different from the functional currency, companies must inform the fact and the type of payment through evidentiary documents such as: invoices, receipts, sales journal, financial statements, account statements.

As well as the total amount of the operations whose tax has been collected in advance, the total amount of the operations carried out, separating the amounts of the taxed operations and the exempted or exonerated ones; as well as the tax caused, discriminated according to the rate indicating the applicable percentage, number, date and time of the last invoice issued.

In other words, companies must invoice in a fiscal machine, under the system established by the respective tax authorities, where sales, daily sales reports, including value added tax deductions, exempted sales, and of course the detail of sales are made in detail.

The sales receipt must also be submitted, meaning that a receipt is a written document that is submitted to record and certify that someone has paid what he/she owed or had to pay as a result of the sales.

And finally the sales journal, meaning a sales journal is a special routine journal used by companies to record sales transactions purchased on credit. Cash sales are usually recorded in a separate journal called a cash receipts journal.