11/21/2023 0 Comments Bill vs receipt![]() Similarly, if the payment is not received against the bill, then the seller can lodge a complaint against the buyer. The invoice is legal if corroborative evidence, such as inventory, duplicate bills, etc., proves the goods actually exist or the service was actually performed ![]() Unscrupulous companies may generate false invoices to account for missing funds or to inflate sales numbers. These bills or invoices are very important as it is a legal proof and can be challenged in case the things defined in the bills and what the customer gets from the seller, are not same. A due date is also mentioned indicating the number of days the buyer has to pay the money. So Invoice implies that deal is still under process and Bill implies that Deal is complete and final value of goods has been decided. Payment terms are also mentioned on the invoice stating how and when the buyer is expected to pay, or if the buyer has already paid money in advance. there can’t two bills for same goods but there can be two or more invoices for same goods. Whereas Bill is permanent document which can’t be changed and have no duplicate identity i.e. Invoice is temporary and can be changed as taxes can be implemented, discounts can be offered. Bill is final document after all settlement on goods sold. Invoice is that document issued by the supplier to the customer with his best offered rates without negotiations.An invoice is raised against a credit sale for which payment is settled later. A bill is issued against a sale of goods or service for which payment is settled there itself.I n Rediff What is the difference between BILL and INVOICE? says If goods or services were purchased on credit, the invoice will usually specify the terms of the deal, and provide information on the available methods of payment. An invoice will usually include the quantity of purchase, price of goods and/or services, date, parties involved, unique invoice number, and tax information. Invoice : A commercial document that itemizes a transaction between a buyer and a seller. Thanks Subin for such interesting questions.īill : Bill is defined as a statement of fees or charges which contains the list of items along with their prices that is provided from the seller to the buyer regarding the products bought by the buyer. It made me think on usage of these common terms. What is the difference between the words bill, voucher,invoice and receipt was asked by our reader Subin. ![]()
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