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By Rita Derrick - April 08 2018 10:35:59
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.
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 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.
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.
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