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In this video tutorial, James from Accounting Stuff explains the concept of invoices, their importance, and their key features. He emphasizes that understanding invoices is crucial for anyone in business, whether self-employed or working for a corporation, as they are essential for receiving payments. The video provides a detailed explanation of what invoices are, along with an example to illustrate their function. James encourages viewers to watch until the end, where he will answer common questions to clarify the topic further. He also invites viewers to subscribe and check out additional accounting basics in his playlist.