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In this video tutorial, James from Accounting Stuff explains invoices, their importance, and their key features. He emphasizes that invoices are essential for any business, whether self-employed or part of a corporation, as they are necessary for receiving payment. The video provides a clear definition of an invoice and includes an example for better understanding. Throughout the tutorial, viewers are encouraged to subscribe and explore additional resources for accounting basics. James also addresses common questions related to invoices, aiming to clarify the topic further by the end of the video.