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By Delma Webster - March 28 2018 06:37:26
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 serves several purposes. It is not just the catalyst that gets you paid, although I would venture to say that is the no 1 role, huh?
An invoice shows the payment that a buyer owes to a seller. From a seller’s point of view, an invoice for the sale of goods and/or services is referred to as a sales invoice. From a buyer’s point of view, an invoice for the cost of goods and/or services rendered is referred to as a purchase invoice.
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.
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