By Reyna Chung - March 13 2018 19:23:05
Invoices are important not only for keeping track of sales and payments, from balances to stock levels, but they can also be used in the case that a payment is overdue or missing and is followed up with more formal actions.
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?
The difference between an invoice and a bill is the focus and standpoint. The invoice is created by a supplier, and it is a statement of services or products produced and delivered to a customer, including the amount owed. An invoice may be created before or after the product or service is received. It is common for an invoice to be included with products being delivered, so the recipient can check off the items to make sure they are all there.
An invoice is a pillar of the sales process. It is the main document that serves as a bill for the service or products your business has provided. A properly created invoice is a legal document that provides a binding agreement.
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