Final Invoice in New Zealand
A final invoice is sent to the customer once the project or work has been completed, or the goods and services has been supplied to the customer. It acts as a legal document and can be thought of as the final invoice that shows that the project has been completed or that the seller has fulfilled their commitment in line with the contract.
Purposes of a Final Invoice
As noted, the basic purpose of a final invoice is to request final payment form the customer and in this regard, it also serves the following additional purposes:
Communicates the summary of all project charges
This helps to understand the total price or value of the project. It also provides a comprehensive view of the invoices sent to the customer for a specific project.
Documentation purposes
The final invoice serves as a record or for documentation purposes. Further, it is just as important for accounting purposes and can be used during tax and accounts audits.
Legal protection for the parties
In the event that there is a dispute between the seller and buyer, the record and back up of the invoices can help to resolve the issue.
Closure of transactions
The final invoice can also act as a formal ending of the project. In other words, it is a termination of the project relationship between the seller and buyer.
Signals project completion
The final invoice is also a confirmation to the customers, that it is the last payment request for the project under consideration.
Tips to Generate Final Invoice
The following tips can be effective when using a final invoice:
Write detailed items with a breakdown
By writing an itemized breakdown for all items billed to date, this helps to understand the amount that has been invoiced to date.
Compare the total billed with the budget
It is necessary to compare the budget with the total amount invoiced. After considering the final invoice, the difference would be zero.
Make sure to back up the invoice
It is a good idea to keep a backup folder with all invoices sent to date. This ensures that any problems will be resolved if there is any dispute in regards to billing.
Final Invoice Email Notification Template
Hello {Name of the customer},
We are pleased to communicate that our {Project name} has been completed. In this regard, we intend to provide you with the attached final invoice for record and payment purposes.
Payment Options:
{Details related to payment options}
Please make sure to pay the invoice before the due date. If you have already paid the invoice, kindly accept our sincere thanks.
Thank you for your prompt attention to this matter. We value your business terms and look forward to mutual success. If you have any questions or queries, kindly contact us at {Email / Phone}.
Best regards,
{Your Full Name}
{Your Position / Title}
{Your Company Name}
{Your Contact Information}
How to Create a Final Invoice
Method 1: Use our simple invoice software
Method 2: Download a free final invoice template:
Invoicing tools for New Zealand: