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By Judith Cross - April 10 2018 18:57:33
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.
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.
An invoice indicates what must be paid by the buyer according to the payment terms of the seller. Payment terms usually specify the period of time that a buyer has to send payment to the seller for the goods and/or services that they have purchased.
Feel free to use this free invoice template as a model for your own simple invoices. If you like, you can copy it into MS Word or some other word processor, and substitute your relevant data, using your own customized business letterhead, and formatting the invoice template as you desire.
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