diff --git a/models/staging/exchange/stg_exchange__transaction_invoices.sql b/models/staging/exchange/stg_exchange__transaction_invoices.sql
new file mode 100644
index 0000000..092889c
--- /dev/null
+++ b/models/staging/exchange/stg_exchange__transaction_invoices.sql
@@ -0,0 +1,145 @@
+/* DOCS
+Invoice is issued by CIEF to customers for customer book keeping.
+An invoice is a document that consolidates the total amount for multiple orders within a single booking.
+Currency shown in invoice is the converted currency.
+
+For booking_id with multiple invoices, take latest updated_datetime as true.
+The duplicates are a bug as confirmed by omair.
+*/
+
+-- IMPORTS
+WITH transactions AS (
+    SELECT * FROM {{ ref('base_exchange__transactions') }}
+),
+
+transaction_types AS (
+    SELECT * FROM {{ ref('seed_exchange__transaction_types') }}
+),
+
+bookings AS (
+    SELECT * FROM {{ ref('base_exchange__bookings') }}
+),
+
+payment_methods AS (
+    SELECT * FROM {{ ref('seed_exchange__payment_methods') }}
+),
+
+status AS (
+    SELECT * FROM {{ ref('seed_exchange__status') }}
+    WHERE category = 'DEFAULT'
+),
+
+
+-- LOGIC
+transactions_join_transaction_types_payment_methods_bookings_status AS (
+
+    SELECT
+        bookings.booking_marking_id,
+        bookings.fix_value,
+        bookings.fix_currency_id,
+        transactions.transaction_id                                                         AS transaction_invoice_id,
+        transactions.owner_id                                                               AS booking_id,
+        transactions.issuer_user_id                                                         AS issuer_company_id,
+        transactions.receiver_user_id                                                       AS receiver_company_id,
+        transactions.base_currency_id,
+        transactions.quote_currency_id,
+        COALESCE(transaction_types.name, transactions.transaction_type::string)             AS transaction_type,
+        COALESCE(payment_methods.name, transactions.payment_method::string)                 AS payment_method,
+        COALESCE(status.name, transactions.status::string)                                  AS status,
+        transactions.bill_number                                                            AS invoice_number,
+        transactions.base_value,
+        transactions.quote_value,
+        transactions.base_to_quote_currency_exchange_rate,
+        transactions.base_tax,
+        transactions.base_service_charge,
+
+        transactions.expired_datetime,
+        transactions.deleted_datetime,
+        transactions.created_datetime,          
+        transactions.updated_datetime
+
+    FROM transactions
+
+    LEFT JOIN transaction_types
+        ON (transactions.transaction_type = transaction_types.id)
+
+    LEFT JOIN payment_methods
+        ON (transactions.payment_method = payment_methods.id)
+
+    LEFT JOIN status
+        ON (transactions.status = status.id)
+    
+    LEFT JOIN bookings
+        ON (transactions.owner_id = bookings.booking_id)
+
+    WHERE 
+        transactions.owner_type = 'App\\Models\\Booking' 
+        AND 
+        transactions.transaction_type = '2' --INVOICE
+
+),
+
+remove_deleted_records AS (
+    SELECT 
+        *
+    FROM transactions_join_transaction_types_payment_methods_bookings_status
+    WHERE deleted_datetime IS NULL
+
+),
+
+remove_duplicated_records AS (
+    SELECT
+        *,
+        ROW_NUMBER() OVER (PARTITION BY booking_id ORDER BY updated_datetime DESC)   AS row_index,
+
+        '{{ modules.datetime.datetime.now(modules.pytz.timezone("Asia/Kuala_Lumpur")) }}'   AS _dbt_ran_datetime
+
+    FROM remove_deleted_records
+
+    QUALIFY
+        row_index = 1
+),
+
+
+-- FINAL
+final__stg_exchange__invoices AS (
+
+    SELECT
+        -- ids
+        transaction_invoice_id,
+        booking_id,
+        booking_marking_id,
+        issuer_company_id,
+        receiver_company_id,
+        base_currency_id,
+        quote_currency_id,
+        fix_currency_id,
+
+        -- dimensions
+        invoice_number,
+        transaction_type,
+        payment_method,
+        status,
+
+        -- measures
+        fix_value,
+        base_value,
+        quote_value,
+        base_to_quote_currency_exchange_rate,
+        base_tax,
+        base_service_charge,
+
+        -- date/times
+        deleted_datetime,
+        created_datetime,
+        expired_datetime,
+        updated_datetime,
+
+        -- metadata
+        _dbt_ran_datetime
+
+    FROM remove_duplicated_records
+
+)
+
+SELECT * FROM final__stg_exchange__invoices
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