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An invoice is a key document in business transactions that details the goods or services provided, their cost, and payment terms. It is essential for getting paid and understanding the financial health of a business. This video provides a detailed explanation of what an invoice is, why it is important, and walks through the key features with an example. Viewers are encouraged to watch until the end for answers to common questions, making the topic clearer. Invoicing is crucial for both self-employed individuals and corporations to ensure timely and accurate payment.