Answer Posted / dharmesh sati
An invoice is a commercial document issued by a seller to a
buyer, indicating the products, quantities and agreed
prices for products or services that the Seller has already
provided the Buyer with. An invoice indicates that, unless
paid in advance, payment is due by the buyer to the seller,
according to the agreed terms.
A bill is a document requesting payment for goods
previously supplied. This presentation of a bill is common
practice on the part of restaurants, credit card companies,
utilities, and other service providers. The bill for
something is the total price of all services and goods
received but not yet paid for, and is presented in the
expectation of immediate payment in full. If a bill is not
paid, a collections company is usually given the
responsibility of collecting the amount due and service is
terminated. Under English law, a person who makes off
without paying the bill, or who dishonestly secures a
remission in the amount payable, commits an offence under
the Theft Act 1978. When a company cannot pay its bills, it
is said to be insolvent.
These two words are generally used interchangeably.
Is This Answer Correct ? | 13 Yes | 0 No |
Post New Answer View All Answers
Tell us do you have any idea about service tax or excise?
Scheme is given by a company to his distributors on sale of goods, what is the treatment of this scheme distributors hand Direct income or indirect income
Hello sir, i am assistent executive in partnership firm.i learn't tds return, sales tax return, service tax return and all accounting entry,reconciliation with customer & supplier.BRS. please guide me for more knowledgeble sectore in account. hense i reach become a good position in account sectore.
What is the difference in accounting and marketing and what is so different about them?
List out some of the accrued expenses and the accounts in which you would record them?
Why companies are issuing their shares at premium and discount? What benefits the companies and the investors can get in both the cases?
what is the diffrence between cash flow & cash fund?
What will be the journal entry of purchase and sale for ac purchased for 40000 vat 5% sold for 45000 vat5%
What is accounting period?
Proprietor paid amount of Rs. 11060/- for car insurance. Pass Journal.
What is fair value accounting definition?
what TYPE OF INVOICE SHOULD RAISE TO C&F agent ?
When their is one pick point and four unloading places with in same district their is need to write four number of way biils
What GP resew of balance sheet taking.
purchase plant and machinery