Invoice Words

Invoice Words are a comprehensive set of terms and phrases commonly used in the fields of finance, billing, accounting, corporate finance, business finance, bookkeeping, and invoicing. This glossary serves as a valuable resource for professionals working in these domains, providing a clear and precise understanding of the terminology used in various financial processes and transactions. Whether you are a financial analyst, accountant, business owner, or simply an individual seeking to enhance your knowledge of financial terminology, this dictionary entry will provide you with a comprehensive overview of key invoice words.

  1. Accounts Payable: The amount of money a business owes to its suppliers or vendors for goods or services purchased on credit.
  2. Arrears: Unpaid or overdue debts or obligations.
  3. Credit Note: A document issued by a seller to a buyer, indicating that a specific amount has been credited to the buyer’s account.
  4. Debit Note: A document issued by a seller to a buyer, indicating that a specific amount has been debited from the buyer’s account.
  5. Due Date: The date by which payment is expected to be received.
  6. Invoice: A document issued by a seller to a buyer, itemizing the goods or services provided, their quantities, and the amount due.
  7. Net Amount: The total amount due after deducting any discounts or allowances.
  8. Outstanding Balance: The amount of money that remains unpaid after a payment has been made.
  9. Overdue: A payment that has not been made by the due date.
  10. Payment Terms: The agreed-upon conditions under which a buyer will pay the seller, including the due date and any applicable discounts or penalties.
  11. Proforma Invoice: A preliminary invoice that provides an estimate of costs and serves as a quotation or proposal before the actual sale takes place.
  12. Purchase Order: A document issued by a buyer to a seller, specifying the goods or services to be purchased and the terms of the transaction.
  13. Remittance: The act of sending money as payment, usually accompanied by a report or statement indicating the purpose and details of the payment.
  14. Sales Invoice: A document issued by a seller to a buyer, providing a detailed summary of the goods or services sold, their quantities, and the total amount due.
  15. Statement: A periodic summary of transactions and balances, typically sent by a seller to a buyer for reconciliation and payment.
  16. Tax Invoice: An invoice that includes the appropriate tax details, such as sales tax or value-added tax (VAT), for reporting and accounting purposes.
  17. Terms and Conditions: The legal and financial terms that govern a transaction, including payment terms, warranties, and liability clauses.
  18. Unpaid: An invoice or bill that has not been settled or cleared.
  19. Vendor: A person or company that supplies goods or services to another business.
  20. Void: An invoice that has been canceled or rendered invalid, often due to errors or discrepancies.

This comprehensive set of invoice words provides a solid foundation for understanding the terminology used in finance, billing, accounting, corporate finance, business finance, bookkeeping, and invoicing. By familiarizing yourself with these terms, you will be better equipped to navigate the complex world of financial transactions, ensuring accuracy, transparency, and efficiency in your professional endeavors.

Disclaimer:
This glossary is made for freelancers and owners of small businesses. If you are looking for exact definitions you can find them in accounting textbooks.

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