A retail sale invoice is used to request payment for any purchase of goods that have been made by an individual or business entity. In most cases, the retail store will allow a business that has an account with them to purchase as much product as they desire and bill the account holder with an invoice at the end of the month. The invoice will be due immediately upon receipt and if not paid within fifteen (15) or thirty (30) days the account holder will not be allowed to purchase more products until the outstanding balance is paid.
What Is Retail Sales?
Retail sales is the final product put forth by a company for sale in a shop or store. The trend in retail sales, either up or down, typically reflects the health of a company and on a larger scale, the health of an economy. The United States Census Bureau publishes a report every month detailing the monthly retail trade report. Retail sales include any type of product sold, whether at a physical location or online. Retail businesses track every element that goes into putting a finished product on the table. Businesses track leads (referrals), customer behavior, sale count, and payments. A retail sale invoice plays a large role when tracking and requesting payments from customers, especially repeat customers that are trusted.
Types of Retail
There are 10 retail categories that make up the majority of this industry.
- Food and beverage
- Motor vehicle and parts dealers
- Furniture and home furniture stores
- Electronics and appliance stores
- Building material and garden
- Health and personal care
- Gasoline stations
- Clothing and clothing accessories
- Sporting goods, hobby, musical instruments, and book stores
- General merchandise stores