Accounts Receivables (AR)
Is there a required invoice format, or are all formats acceptable, including Shopify and custom invoices?
No fixed template is mandated. However IRAS provides a recommended layout as a guide, but any format is acceptable, including Shopify-generated or custom-designed invoices, as long as it contains the required tax invoice fields: the words "tax invoice," supplier and customer name/address, GST registration number, invoice date and number, description of goods/services, GST rate and amount, and the subtotal and total.
Do we issue one sales invoice per sale, or can a bulk invoice be submitted covering a week or a month of sales?
1 Invoice can cover a period, as long as the invoice itemises the individual sales/dates within that period.
Can a recurring monthly invoice be set up to go to a customer automatically?
Yes, in Xero, a repeating invoice can be set up with a defined frequency, invoice/due dates, and an end date, with "Approve for Sending" selected so it generates and sends automatically each period without manual action.
If we assign an admin person to raise sales invoices and upload expenses, can their access be limited so they do not see the rest of our accounting?
No such restrictions exist for for now. if you add someone as standard user to bookkeeping , they can access accounting , but bank statements can only be uploade by the company admin
