Accounting Transaction Types

Invoice

An invoice is a request for payment. It is a bill that is sent to a customer for goods or services that have been provided. The invoice will typically include the quantity of the goods or services provided, the price agreed upon, the total amount due, the date of the transaction, the payment terms, and the due date.

Bill

A bill is a request for payment from a vendor or carrier. It is a document that outlines the goods or services provided, the amount due, and the payment terms. Bills are typically sent to a company by its suppliers or service providers.