📄 Business Document Requirements

After registering your business and setting up your bank account, it’s time to put structure behind your operations. That begins with documenting your business processes.

Here are the essentials and what each one means:

✅ 1. Invoice

An invoice is a formal request for payment you send to a client after delivering goods or services.

Includes:

• Your business name, address & contact

• Client’s name & contact

• Invoice number

• Description of goods/services provided

• Cost and total amount due

• Payment terms (e.g., due in 14 days)

Why it matters: It tracks income, supports tax filing, and creates a legal record of sales.

✅ 2. Receipt

A receipt is a proof of payment issued to a customer after payment is made.

Includes:

• Your business info

• Date of payment

• Amount paid

• What the payment was for

• Receipt number

Why it matters: Builds trust with clients and helps you stay compliant with VAT or tax requirements.

✅ 3. Service Agreement (or Contract for Services)

A service agreement outlines the terms of work between you and your client.

Includes:

• Scope of work or services to be delivered

• Timeline/duration

• Payment structure

• Responsibilities of both parties

• Termination clause

• Signatures

Why it matters: It protects both parties and sets clear expectations, reducing the chance of disputes.

✅ 4. Quotation/Estimate

A quotation (or estimate) is a formal breakdown of your pricing provided before the work begins.

Includes:

• Description of work or product

• Itemized costs

• Duration of validity

• Optional notes or disclaimers

Why it matters: Helps clients understand costs upfront and prevents confusion later on.

✅ 5. HR Policies

If you hire employees or plan to, HR policies are your rules and guidelines for workplace conduct.

Includes:

• Code of conduct

• Leave and attendance policies

• Disciplinary procedures

• Grievance procedures

• Health & safety rules

Why it matters: Sets expectations, protects the business legally, and supports a fair workplace.

✅ 6. Contracts

A contract is a legally binding agreement between two or more parties—could be with clients, suppliers, or partners.

Includes:

• Mutual obligations

• Deadlines or deliverables

• Payment terms

• Dispute resolution

• Signatures

Why it matters: Clearly defines who is responsible for what and provides legal protection if disagreements arise.

✅ 7. Letterhead

A letterhead is a standardized template for formal communication that includes your business identity.

Includes:

• Business name & logo

• Address

• Email & phone

• Registration or tax numbers (optional)

Why it matters: Enhances your professionalism and branding when sending proposals, letters, or quotes.

✨ Final Tip:

These documents can be created in Word, Excel, or PDF, but as you grow, consider using tools like:

• Canva for letterheads & invoices

• DocuSign or Adobe Acrobat for contracts

• Google Docs/Sheets for editable templates