Understanding E-Invoicing Essentials

1. What is the primary purpose of the 'Invoice Date' field in e-invoicing? A) To indicate the payment due date B) To show when the payment was received C) To record the date the invoice was created D) To specify the start of the fiscal year

• To show the buyer's information

• C) To record the date the invoice was created

• To specify the payment method

• To indicate the total amount due

2. Which of the following fields is required to uniquely identify an invoice?

• C) Payment Method

• A) Invoice Date

• D) Customer Name

• B) Invoice UUID

3. The 'Buyer’s GST Number' field is essential for which purpose? A) Validating payment methods B) Calculating the total invoice amount C) Ensuring compliance with tax reporting D) Assigning a unique code to the buyer

• B) Calculating the total invoice amount

• A) Validating payment methods

• C) Ensuring compliance with tax reporting

• D) Assigning a unique code to the buyer

4. Which field helps determine the applicable tax rate on an invoice? A) Tax Code B) Payment Method C) Discount Percentage D) Invoice Amount

• A) Tax Code

• Invoice Date

• Payment Type

• Shipping Method

5. What does the 'Due Date' field indicate in an invoice? A) The date the invoice was created B) The date by which payment should be made C) The date the goods were delivered D) The date the invoice was approved

• The date the invoice was sent

• The date the customer placed the order

• B) The date by which payment should be made

• The date the payment was processed

6. Why is the 'Currency Code' important in e-invoicing? A) It specifies the payment method B) It indicates the country of the buyer C) It determines the applicable tax rate D) It shows the currency in which the invoice is issued

• B) It indicates the payment due date

• A) It specifies the invoice number

• C) It shows the buyer's contact information

• D) It shows the currency in which the invoice is issued

7. What is the significance of the 'Payment Terms' field in an invoice? A) It specifies the invoice creation date B) It outlines the conditions under which payment is to be made C) It indicates the buyer's GST number D) It shows the total amount due

• C) It indicates the seller's bank account

• D) It shows the payment method accepted

• B) It outlines the conditions under which payment is to be made

• A) It specifies the invoice number

8. Which field would you check to find out if a discount applies to an invoice? A) Discount Percentage B) Total Amount C) Invoice Number D) Payment Method

• Invoice Date

• Customer Name

• A) Discount Percentage

• Payment Status

9. What is the role of the 'Invoice Amount' field? A) To show the total amount due for payment B) To indicate the payment method C) To specify the buyer's information D) To record the date of invoice creation

• To calculate the tax amount

• To provide the seller's contact information

• A) To show the total amount due for payment

• To list the items purchased

10. How does the 'Tax Code' field affect an invoice? A) It determines the payment method B) It specifies the applicable tax rate C) It indicates the buyer's GST number D) It shows the invoice creation date

• D) It shows the invoice recipient's address

• A) It determines the invoice total

• C) It indicates the buyer's payment terms

• B) It specifies the applicable tax rate