By Minnie Stowe - March 23 2018 11:23:24
You may be using online business accounting software, or maybe you are using a pre-printed invoice that you will complete. The process works the same way for both invoicing processes. You will prepare an invoice only after you have shipped or delivered the product or service to the customer.
A bill is a request for payment. A bill is usually considered from the customers standpoint. It is common to receive a bill without an invoice, as in a restaurant or retail store. A bill is usually given with the expectation of immediate payment.
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.
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.
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