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In this video tutorial, James from Accounting Stuff explains invoices, their importance, and key features. An invoice is a crucial tool for businesses, whether self-employed or part of a corporation, as it facilitates payment. The video covers what constitutes an invoice, its significance in transactions, and provides examples. Additionally, common questions related to invoicing are addressed to clarify the topic further. Viewers are encouraged to subscribe for more accounting basics and watch until the end for comprehensive insights.