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FORM 24 FIRST AND FINAL BILL Referred to in paragraphs 10. 2. 12 and 10. 2. 13 Division. Sub-Division For contractors and supplier-to be used when a single payment is made for a job or contract i.e. only on its completion Name of work in the case of bills for work done. Cash Book Voucher No*. dated. Name of contractor or supplier. Date Agreement/work order/supply order No*. dated. Reference to recorded measurements and date Page No Date of written order to commence work. Date of actual...
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How to fill out first and final bill
01
To fill out the first and final bill, you need to gather all the necessary information and documentation related to the transactions or services provided. This may include invoices, receipts, contracts, or any other relevant documents.
02
Start by entering your business information at the top of the bill, including your company name, address, and contact details. You may also want to include a logo or a professional header to give it a polished look.
03
Next, specify the recipient's information, including their name, address, and contact details. This is important for accurate record-keeping and to ensure that the bill reaches the right person or organization.
04
Provide a unique invoice or bill number to easily track and reference this particular transaction. This number can be sequentially assigned or follow a specific numbering system according to your company's preferences.
05
Include the date of the bill, which is typically the date when the invoice is created. This helps both parties to track the payment due date and provides a reference point for future communication.
06
List the products or services provided in detail, along with their corresponding quantities, unit prices, and total amounts. Ensure that the description is clear and concise to avoid any confusion or disputes.
07
Calculate and display the subtotal, which is the sum of all the individual amounts before applying taxes or discounts. Depending on your jurisdiction and business requirements, you may need to include additional charges like sales tax or value-added tax (VAT).
08
If applicable, deduct any discounts or apply taxes to the subtotal to arrive at the final payable amount. Clearly indicate the tax rate and percentage used for calculation purposes.
09
Mention the payment terms, including the due date and acceptable modes of payment. It's important to specify if there are any late payment penalties or if early payment discounts apply.
10
Finally, provide your contact information or a dedicated section for any inquiries or disputes related to the billing. This allows the recipient to easily reach out to you for clarification or to discuss any concerns they may have.
As for who needs the first and final bill, primarily it is necessary for businesses or service providers who wish to document and request payment for their products or services. This could include freelancers, contractors, small business owners, or corporations in various industries. Additionally, individuals who have received goods or services can also keep a copy of the first and final bill for their records and to ensure accuracy in the transaction.
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What is first and final bill?
First and final bills are documents sent at the start and end of a business relationship between two parties, such as an employer and employee. The first bill typically outlines the terms of the agreement and the final bill is a summary of what has been paid and what is still owed.
Who is required to file first and final bill?
The executor or administrator of an estate is typically required to file a first and final bill with the court. This bill is a detailed accounting of all transactions conducted in administering the estate.
What is the purpose of first and final bill?
The purpose of a first and final bill is to provide a detailed summary of all the costs associated with a project, usually in the form of a single invoice. This bill is typically issued when the project is completed to ensure that all costs are accounted for and paid. The final bill is the last step in the payment process and usually includes a breakdown of the total cost, including any additional fees or taxes.
What information must be reported on first and final bill?
First Bill:
- Invoice number and date
- Name and contact information for the client
- Description of services or products provided
- Total cost of services or products, including taxes
- Payment terms
Final Bill:
- Invoice number and date
- Name and contact information for the client
- Description of services or products provided
- Total cost of services or products, including taxes
- Payment terms
- Amount due
- Payment options and instructions for payment
When is the deadline to file first and final bill in 2023?
The deadline to file first and final bills in 2023 is usually December 31st of that year.
What is the penalty for the late filing of first and final bill?
The penalty for the late filing of a first and final bill varies by state, but typically includes late fees and interest charges. In some cases, the contractor may also be subject to disciplinary action.
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