A form describing the goods or services sold, the quantity, the price, and the term of sale is known as an Invoice.
What is an Invoice?
- An invoice, bill, or tab is a business document that a seller issues to a buyer in connection with a sale transaction.
- It lists the goods, quantities, and prices that were agreed upon for any goods or services that the seller has delivered to the customer.
- In most cases, the invoice includes the payment terms. Some sellers clearly indicate in huge, capital letters on an invoice if it has already been paid in order to prevent misunderstandings and the ensuing needless interactions from buyer to seller.
- An invoice is a sales invoice in the seller's eyes. An invoice is a purchase invoice in the eyes of the buyer.
- Although the term invoice implies that money is owed or owing, the document identifies the buyer and seller.
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