When and how are summary invoices issued?

Many businesses need to generate a large number of recurring, low-value invoices, which can mean extra effort for bookkeeping when it comes to managing all of them. The summary invoice (factura recapitulativa) is an ideal tool for this type of business, as it simplifies this work by grouping a series of invoices into a single document.

What is a summary invoice?

A summary invoice is an invoice that groups several invoices for purchase or sale transactions with the same issuer or recipient within the same calendar month. It brings together all the transactions that a company has carried out with a customer or supplier and is used to record grouped invoices in the accounts.

For example, if we have issued several invoices to a customer over a one-month period, we can prepare a summary invoice that contains all the information from the invoices issued during that period. In this way, we avoid having to issue invoices to our customer one by one, and can instead provide a single invoice that covers all the others.

What is a summary invoice used for?

The summary invoice is an extremely useful tool for companies that need to record a large number of purchase or sale transactions at once, as it streamlines bookkeeping and reduces the effort involved.

For example, suppose a self-employed worker sells massage sessions and has 10 customers who each buy 10 sessions a month. Instead of issuing 100 separate invoices (one for each session), they could issue a summary invoice for each customer covering the 10 sessions. In this way, we avoid having to issue invoices to our customer one by one, and can instead provide a single invoice that covers all the others, which will speed up our invoicing.

Requirements for summary invoices

For a summary invoice to be considered lawful and valid for tax purposes, a series of requirements or conditions must be met.

• A summary invoice must cover several purchase or sale transactions within the same calendar month.

• The invoices grouped in a summary invoice must be addressed to the same customer or received from the same supplier.

• The grouped invoices must relate to transactions carried out within the same calendar month. In other words, invoices from different calendar months cannot be combined in the same summary invoice.

• For end consumers, summary invoices must be issued on the last day of the month in which the transactions were carried out. This deadline moves to the 16th of the following month if the recipient is a self-employed professional or a business.

• In addition, all the invoices included in the summary invoice must be canceled for it to be valid. Those invoices must be attached to the summary invoice so that the amounts can be recorded in the accounts. It is important to clarify that, even though the invoices included are “canceled,” they must be kept for the following 5 years, since the tax authorities may request them.

What information must a summary invoice contain?

A summary invoice, like any other invoice, must include a series of mandatory details set out in the invoicing regulations in order to be considered legally and commercially valid. Summary invoices must contain the same mandatory details as an ordinary invoice, but with a few particular features, which we explain below. These are the mandatory details that a summary invoice must include:

• The words “summary invoice,” displayed visibly in the header as an identifier.

• Invoice number, with a sequential series number where applicable.

• Date of issue. In summary invoices, the calendar month of the transactions summarized must also be stated.

• Tax details of the issuer and the recipient.

• Invoice lines. Like the description line on an ordinary invoice, a summary invoice will include one line for each invoice that is compiled. We provide more details about these lines in the following section.
• Total tax base. That is, the sum of all the tax bases of the summarized invoices.

• Taxes and withholdings. That is, the applicable VAT (IVA), as well as the Personal Income Tax (IRPF) withholding where applicable.

• Total amount of the invoice.

What date should a summary invoice bear?

A summary invoice is normally prepared at the end of the calendar month in which the transactions to be grouped took place. Accordingly, the date of a summary invoice may be the date of the last transaction or the last day of the month.

However, in the case of summary invoices sent to professionals or businesses, they may be issued after the end of the calendar month, provided this is done before the 16th of the following month.

Remember that, in summary invoices, the calendar month of the transactions summarized must also be stated.

Can summary invoices be issued for simplified invoices?

Yes, it is possible. To group several receipts (also called simplified invoices) into a summary invoice, the process is the same as for creating an invoice that groups several ordinary invoices. However, a summary invoice may only be issued if the total amount of the invoice grouping the receipts does not exceed €3,000.