What is the difference between invoice and billing

Question Posted / jagamohan_it

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What is the difference between invoice and billing..

Answer / s v singh

An invoice:- is essentially a detailed bill left by vendors
and outside suppliers for goods or services rendered to a
company..it is a legal document which can be used as
evidence of an incurred debt. The recipient of the goods or
services can challenge the legitimacy of individual
charges, but the invoice itself is considered a bona fide
debt. Sometimes a vendor or serviceman cannot collect on a
bill immediately, so their company will send an invoice at
a later date for payment.

billings - Total amount charged to clients, including the
agency commission, media costs, production costs, etc...The
invoice will be issued on the day the event concludes.
Bills are payable in full within 14 days. In the event of
late payment, 15 % late-payment penalties will be charged.
By entering into a agreement with us, the contractor
expressly agrees to accept all procedural charges in the
event of unpunctual payment.

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