By Reyna Chung - March 13 2018 01:24:55
Invoices are even easier to do if you use accounting software. When your business is in the startup phase keeping track of invoices is a simple chore but as your business grows you will find that your bookkeeping requirements become more complex and time-consuming.
Invoices are sometimes confused with purchase orders. Purchase orders (POs) are before the transaction, and invoices are after the transaction. Purchase orders record an order by a customer to a vendor or supplier.
An invoice provides a detailed account of the products or service and a set of other information that can vary a bit depending on the requirements in the country the invoice is issued and the type of product or service being sold.
An invoice, on the other hand, records the receipt of the product or service and, as noted above, the terms of payment. Purchase orders are used by many companies as part of an approval process. Some companies require purchase orders for products or services over a specific amount.
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