By Reyna Chung - March 14 2018 03:15:05
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.
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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