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Work Invoice Template

By Rita Derrick - March 14 2018 10:46:39

An invoice is a pillar of the sales process. It is the main document that serves as a bill for the service or products your business has provided. A properly created invoice is a legal document that provides a binding agreement.

An invoice, sometimes called a sales invoice, is a document sent by a provider of a product or service to the purchaser. The invoice establishes an obligation on the part of the purchaser to pay, creating an account receivable. In other words, the invoice is a written verification of the agreement between the buyer and seller of the goods or services. Invoices are an important part of your business s bookkeeping and accounting recordkeeping system because they record sales transactions.

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.

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