{"id":11591,"date":"2023-01-11T05:37:11","date_gmt":"2023-01-11T05:37:11","guid":{"rendered":"https:\/\/www.asesoriaorihuelacosta.com\/?p=11591"},"modified":"2024-02-10T18:15:20","modified_gmt":"2024-02-10T18:15:20","slug":"all-you-need-to-know-regarding-summary-invoice","status":"publish","type":"post","link":"https:\/\/www.asesoriaorihuelacosta.com\/en\/all-you-need-to-know-regarding-summary-invoice\/","title":{"rendered":"All you need to know regarding summary invoices"},"content":{"rendered":"\t\t
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Many businesses generate many small invoices regularly, which can mean extra accounting work to manage them all. A recapitulative, grouped, or summary invoice is an ideal tool for this type of business, as it allows you to simplify the task by grouping several invoices into a single document.<\/p>

What is a summary invoice?<\/h2>

A summary invoice is an invoice that groups together several invoices for purchase or sales transactions with the same issuer or recipient in the same calendar month. It is an invoice that combines all the transactions a company has carried out with a customer or supplier and is used to post grouped invoices.<\/p>

For example, suppose we have issued several invoices to a customer in one month. In that case, we can make a summary invoice that gathers all the information of the invoices issued during that period of time. In this way, we save the process of issuing invoices to our customers one by one, and we can deliver a single invoice that collects all the other invoices,<\/p>

What is the purpose of a summary invoice?<\/h2>

A summary invoice is a handy tool for companies that need to account for many purchase or sale operations simultaneously, which allows them to speed up accounting and reduce efforts in this regard.<\/p>

For example, let’s say a freelancer sells massage sessions and has ten clients who each buy ten sessions per month. Instead of issuing 100 separate invoices (one for each session), he could issue one recapitulative invoice for each client covering all ten sessions. This saves us the process of issuing invoices to our clients one by one, and we can give them a single invoice covering all the other invoices, which will speed up our invoicing.<\/p>

General requirements for summary invoices<\/h2>

Several requirements or conditions must be met for a summary invoice to be legally and financially valid.<\/p>

  1. A summary invoice must cover multiple purchases or sales within a calendar month.<\/li>
  2. Invoices in a summary invoice must be issued to the same customer or received from the same supplier.<\/li>
  3. Grouped invoices must be for transactions within a calendar month. In other words, combining invoices from different calendar months in a consolidated invoice is impossible.<\/li>
  4. Aggregated invoices must be issued to end-users carrying out activities no later than the last day of the month. If the recipient is self-employed or a company, this deadline is changed to the 16th of the following month.<\/li>
  5. In addition, all invoices included in the total invoice must be cancelled to be valid. The previous invoice must be added to the statement invoice so the amount can be posted. It is essential to clarify that even if the attached invoices are “cancelled”, they must be retained for the next 5 years as they may be requested by the tax office.<\/li><\/ol>

    What are the mandatory details on the summary invoice?<\/h2>