Invoice Vs Receipt:What Is The Difference?

Hello There,

I have been taking a keen interest in bookkeeping lately as I get some hours after work to understand the concept. I have been able to grasp most of the basic terms including the difference between invoice and receipt. While most people think that they are the same. They are quite different. An invoice is prepared when the seller delivers his products and asks the buyer to make the payment while a receipt is prepared after the buyer makes the payment for the goods purchased. Both the documents are vital for a business to keep track of the income and revenue. Here is an article that will give you all the details about invoice vs receipts.

Read more: https://www.agibookkeeping.com.au/invoice-vs-receipt-whats-the-difference/