What is an invoice?

Definition of Invoice

An invoice is a dated bill prepared by the seller of goods sold (or services provided) which includes brief descriptions of the items, quantities of items and their unit prices, extensions (quantities X prices), the total amount, and the payment terms.

Examples of an Invoice

The seller refers to the invoice it prepares as a sales invoice. The purchaser of the goods or services will refer to the seller's sales invoice that it receives as a vendor invoice or purchase invoice.

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