IFinance glossary

Invoice

Quick definition

A document detailing the goods or services sold and their cost.

Overview

An invoice is a commercial document issued by a seller to a buyer, detailing the products or services provided, their quantity and price, and the payment terms.

Common Use Cases

  • Documenting commercial transactions.
  • Tracking payments received and due.
  • Providing legal proof of purchase.
  • Managing the company's finances.

Examples in Small Businesses

  • Issuing invoices for services rendered.
  • Providing sales receipts to customers.
  • Tracking monthly cash receipts.
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