Either invoice or receipt, these are documents you’ve heard about but you might not be aware of the subtle differences that make them exactly what they are. Both invoice and receipt are non-negotiable commercial instruments, which are used during the course of a transaction.

So, let’s take a look at what both are, how they are used in business and when to be used;

What is an invoice?
An invoice is an itemised list of products sold or services provided, along with the amount of money owed for each line item, and the total amount of money owed. An invoice is sent from the biller (business owner) to the client, in hopes of being paid within a certain period of time.

What is a receipt?
A receipt is different from an invoice in that an invoice is requesting payment for products or services received, whereas a receipt is a proof that the services or products have already been paid for.

An invoice comes before the payment has been made, while a receipt comes after the payment has been made.

To learn more about when and how to be used, get the full article below;
https://invoice.ng/blog/what-is-the-difference-between-invoice-and-receipt/

Nice work, Op.

Gud

Thanks guys

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