By Kelly Kemp - March 16 2018 17:48:31
Invoices may be mailed or emailed or faxed to a customer. When a customer pays, the invoice number should be noted on the sales receipt and matched to the sales receipt in your accounting software, so it is clear that the invoice has been paid. The payment takes the outstanding amount out of your accounts receivable account.
An invoice serves several purposes. It is not just the catalyst that gets you paid, although I would venture to say that is the no 1 role, huh?
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 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.
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