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The Balance Invoice is a specialized financial document used when a customer has made partial payments on an original invoice and a formal record of the remaining balance is required. This document type is particularly important in the Irish business context, where it must comply with specific requirements under the Value Added Tax Consolidation Act 2010 and related EU directives. A Balance Invoice typically includes references to the original invoice, a detailed payment history, and a clear calculation of the outstanding amount. It serves multiple purposes: maintaining accurate financial records, ensuring VAT compliance, and providing a legal basis for collecting remaining payments. This document is commonly used in situations where payment plans have been established, when reconciling partial payments, or when there's a need to formally document outstanding balances for accounting or legal purposes.

1. Invoice Header: Contains invoice number, date, 'Balance Invoice' clearly stated, and VAT registration number

2. Parties Information: Full legal names and addresses of both the supplier and the customer, including VAT numbers if applicable

3. Original Invoice Reference: Reference to the original invoice number(s) and date(s)

4. Payment History: Summary of payments already received and dates

5. Balance Calculation: Clear breakdown of original amount, payments received, and remaining balance

6. Payment Terms: Due date and acceptable payment methods

7. VAT Information: VAT rate applied, amount, and breakdown if multiple rates