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An invoice is a vital document in business that outlines a transaction and provides payment details. In this video tutorial, James from Accounting Stuff explains the importance of invoices and their key features with an example. Invoicing is crucial for getting paid, whether you work for yourself or a corporation. Watch the video to understand what an invoice is, why it is essential, and how to use it effectively. Don't forget to stay until the end for answers to common questions that will clarify the topic.