By Viola Woods - April 10 2018 14:44:20
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 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.
But that invoice is often needed by the buyer for other reasons. They need that record. They need to prove that they paid you, often so they can write off your payment. In my years of writing, I have only had one client, a magazine, that did not need an invoice. I am not sure why or how they managed that.
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.
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