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In this video, James from "Accounting Stuff" explains what an invoice is, why it is important, and what it looks like. He discusses the key features of an invoice with an example and emphasizes the importance of understanding and using invoices for getting paid in any business setting. Invoicing is crucial for self-employed individuals and corporations alike, and James provides clarity on this essential topic, urging viewers to watch the video until the end for answers to common questions.