The moment it gets real
Your company is registered, your bank account is open, your service provider is connected. Time to send your first invoice and actually get paid.
My first invoice through Xolo was to a German client for a consulting project. Creating it took about 3 minutes. The money landed in my Wise account 2 days later. The whole system felt surprisingly smooth — like it was designed for exactly this kind of work.
Before your first invoice
Make sure these are ready:
- Company registered (you have a registry code)
- Wise Business account open and verified
- Bank connected to your service provider
- Service provider onboarding complete
Creating the invoice
Every service provider (Xolo, Companio, 1Office) has built-in invoicing. Here's the typical flow:
1. Enter client details
- Client company name and address
- VAT number (if EU B2B)
- Contact person and email
For EU B2B clients: always get their VAT number. This determines whether you charge VAT (reverse charge mechanism means you typically don't for cross-border EU B2B services). Your provider's system handles this automatically when you enter the VAT number.
2. Add line items
- Description of service (be specific: "Web development services, March 2026")
- Amount
- Currency (EUR recommended, but USD/GBP possible)
3. Set payment terms
- Standard: Net 14 or Net 30
- Bank details: your Wise Business IBAN (auto-filled by your provider)
- Reference number (auto-generated)
4. Review and send
Your provider generates a professional PDF and can send it directly to your client's email.
VAT: the key question
Are you VAT registered?
| Scenario | VAT on invoice? |
|---|---|
| Not VAT registered (under €40k/year) | No VAT — invoice shows net amount only |
| VAT registered, EU B2B client with VAT number | 0% VAT (reverse charge) — note on invoice |
| VAT registered, non-EU client | 0% VAT (export of services) |
| VAT registered, Estonian client | 24% Estonian VAT |
If you're not VAT registered, you cannot add VAT to your invoices. Don't guess — your service provider's invoicing system handles this correctly based on your registration status.
Getting paid
Your client pays to your Wise Business IBAN. What happens next:
- Payment arrives in your Wise account (1-3 business days for SEPA)
- Transaction syncs to your service provider automatically (if using Xolo + Wise)
- Bookkeeping entry is created — revenue recorded, VAT calculated if applicable
- Dashboard updates — you see the payment in your financial overview
If your client pays in a non-EUR currency, Wise converts it at the mid-market rate (typically 0.4-0.6% fee).
After your first invoice
Congratulations — you have a functioning EU company that earns money. Here's what comes next:
Monthly: Send invoices, track expenses, keep your dashboard clean.
Quarterly: VAT return (if registered). Your provider prepares it, you confirm.
Annually: Annual report. Your provider prepares it within 6 months of fiscal year end.
When you want to pay yourself: Choose between salary (higher tax) or dividends (lower tax, but requires profit distribution). See Taxes Explained.
Set up recurring invoices for retainer clients. Both Xolo and Companio support this — the invoice fires automatically each month. One less thing to remember.
Common first-invoice mistakes
- Wrong VAT treatment — let your provider's system handle it, don't override
- Missing client VAT number — always ask EU clients for theirs
- Vague descriptions — "Services" is not enough. Be specific for your own bookkeeping
- Wrong currency — invoice in EUR when possible to avoid conversion complexity
- Forgetting to track expenses — start from day one, not "when it gets serious"
Continue reading
- After Registration — Your First 3 Months — The complete checklist for your first 90 days
- Estonian Company Taxes Explained — Understand how and when you'll pay taxes
- Banking Setup — Make sure your Wise account is optimally configured
- Xolo Review — Deep dive into the platform you'll use for invoicing
