The Difference Between an Invoice and a Receipt

Author: External Author | | Categories: Accountant , Accounting Firm , Accounting Services

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During a sale of goods or services, a buyer and a seller enter into an agreement to transact business and complete a financial transaction. The agreement can be verbal or written, and the terms of the transaction will be recorded or documented with an invoice and a receipt. Invoices and receipts are source documents for accounting; an invoice is also called a bill. Invoices and receipts are used in accounting to record sales transactions and to account for requests and receipts for payment.

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Original Article Source Credits:   Chron , https://smallbusiness.chron.com/

Article Written By:  Heidi Cardenas

Original Article Posted on:  February 04, 2019

Link to Original Article:  https://smallbusiness.chron.com/difference-between-invoice-receipt-21275.html



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