Invoice vs Receipt: Key Differences Between Them
Navigating the maze of financial documents can be perplexing, especially when discerning the purpose of an invoice versus a receipt. This confusion often stems from a misunderstanding of their roles in the transaction process. While both are integral to the buying and selling of goods and services, their functions are distinctly different. An invoice is a request to collect payment, issued before the customer pays, laying out the details of the product or service provided. It initiates the invoicing process, marking the start of a financial obligation. On the other hand, a receipt is a proof of purchase, issued [...]
