Fakturas

Fakturas is the Latvian plural form of faktūra, the word for an invoice. In Latvian accounting and commerce, a faktūra is a document that lists goods or services provided, prices, taxes, total amount due, and payment terms. The plural faktūras is used when referring to more than one invoice. In everyday use, the word rēķins is also common for a bill, but faktūra is widely used in formal and business contexts, especially in accounting and invoicing.

Linguistic notes: faktūra is a loanword with cognates in other Baltic and Central European languages, often stemming from German Faktura or Latin factura. In Latvian orthography the plural form is faktūras (with diacritics), and in ASCII text it may appear as fakturas. Similar terms exist in related languages, but plural forms and spelling vary.

Usage and practice: Faktūras serve as the primary record for revenue in bookkeeping, supporting VAT reporting, accounts receivable tracking, and financial audits. They typically include seller and buyer details, invoice date, due date, itemized lines, unit prices, quantities, tax rates, and total sums. Businesses may issue faktūras in paper form or electronically.

Electronic invoicing: Electronic fakturas (e-faktūra) are increasingly common in Latvia and across Europe. E-invoicing facilitates automated processing, integration with accounting software, and cross-border trade, often leveraging standard formats and networks such as electronic data interchange or PEPPOL in the European context.

See also: Invoicing, VAT, e-invoicing, accounts receivable.