Invoice vs. Statement

By Jaxson

  • Invoice

    See also Voucher: an invoice is within the European union primarily legally defined by the EU VAT directive as an accounting voucher (to verify tax and VAT reporting) and secondly as a Civil law (common law) document.An invoice, bill or tab is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller had provided the buyer.

    Payment terms are usually stated on the invoice. These may specify that the buyer has a maximum number of days in which to pay and is sometimes offered a discount if paid before the due date. The buyer could have already paid for the products or services listed on the invoice. To avoid confusion, and consequent unnecessary communications from buyer to seller, some sellers clearly state in large and/or capital letters on an invoice whether it has already been paid.

    In the rental industry, an invoice must include a specific reference to the duration of the time being billed. So in addition to quantity, price, and discount, the invoice amount is also based on duration. Generally, each line of a rental invoice will refer to the actual hours, days, weeks, months, etc., being billed.

    From the point of view of a seller, an invoice is a sales invoice. From the point of view of a buyer, an invoice is a purchase invoice. The document indicates the buyer and seller, but the term invoice indicates money is owed or owing.

  • Invoice (noun)

    A bill; a commercial document issued by a seller to a buyer indicating the products, quantities and agreed prices for products or services that the seller has already provided the buyer with. An invoice indicates that, unless paid in advance, payment is due by the buyer to the seller, according to the agreed terms.

  • Invoice (noun)

    The lot or set of goods as shipped or received.

    “The merchant receives a large invoice of goods.”

  • Invoice (noun)

    (generally of a vehicle) The price which a seller or dealer pays the manufacturer for goods to be sold.

  • Invoice (verb)

    To bill; to issue an invoice to.

    “I will invoice my supplier tomorrow.”

  • Invoice (verb)

    To make an invoice for (goods or services).

  • Statement (noun)

    A declaration or remark.

  • Statement (noun)

    A presentation of opinion or position.

  • Statement (noun)

    A document that summarizes financial activity.

    “a bank statement”

  • Statement (noun)

    An instruction in a computer program.

  • Statement (verb)

    To provide an official document of a proposition, especially in the UK a Statement of Special Educational Needs.


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