By Florence Solano - April 05 2018 01:21:38
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.
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.
In the original article that I wrote about invoices, I stated that I just stick with a Word document. If I have time, I will change it to PDF, but that does not always happen. Another common practice that I have seen is using an Excel spreadsheet to generate the invoice. But one important consideration that I did not mention back then is the plethora of accounting software out there. Due to affordable small business-targeted options such as Freshbooks or Quickbooks, you may never have to generate an invoice yourself anyway. I have heard wonderful things about these applications, but have yet to check them out.
Today, online invoice software makes it easy to create and send invoices. Cloud-based online software is available at any time, anywhere you have an internet connection and smartphone, tablet, or computer.
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