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In this video tutorial, James from Accounting Stuff explains what invoices are, their importance, and their key features. Invoices are essential for any business, whether self-employed or part of a corporation, as they facilitate payment for services or products. The video covers a clear definition of invoices and provides an example to illustrate their usage. James emphasizes the need for viewers to watch until the end, where he will address common questions to enhance understanding of the topic. He encourages viewers to subscribe and check out additional resources on accounting basics.