Invoiceable

Invoiceable refers to the quality or characteristic of an item, service, or transaction that is eligible to be included in an invoice for billing purposes. In business and accounting terms, an invoiceable item refers to the goods sold, services performed, or expenses incurred that are invoiced to a customer or client.

Usage:

The term invoiceable is commonly used in the context of finance, billing, accounting, corporate finance, business finance bookkeeping, and invoicing to describe the ability of an item, service, or transaction to be included in an invoice.

Example Sentences:

  1. The company’s inventory management system automatically identifies invoiceable items based on predefined criteria, ensuring accurate billing and revenue recognition.
  2. In order to track project costs effectively, all materials used in the production process need to be classified as either invoiceable or non-invoiceable.
  3. As a freelancer, it is crucial to keep track of all your invoiceable hours and expenses to ensure accurate invoicing and timely payments.
  4. The finance department carefully reviews all expense reports submitted by employees to identify any non-invoiceable expenses that may have been unintentionally included.
  5. During the audit, the auditor examined the company’s invoices to determine if all invoiceable transactions were properly recorded and supported by appropriate documentation.

Synonyms: billable, chargeable, invoicable

Related Terms:

  1. Invoice: A document issued by a seller to a buyer, detailing the goods or services provided, the amount owed, and the terms of payment.
  2. Billing: The process of generating and sending invoices to customers or clients for goods sold or services rendered.
  3. Accounts Receivable: The amount of money owed to a business by its customers for goods or services delivered but not yet paid for.
  4. Bookkeeping: The systematic recording and organizing of financial transactions and maintaining the financial records of a business.
  5. Revenue Recognition: The process of recording and reporting revenue earned by a business in its financial statements in accordance with generally accepted accounting principles.

Notes:

The term invoiceable is often used interchangeably with billable or chargeable, all of which describe the ability to include an item, service, or transaction in an invoice. However, it’s important to note that the specific usage may vary depending on the industry or context.

In industries such as professional services, consulting, or freelancing, determining what is invoiceable versus non-invoiceable can be crucial for accurate billing and revenue tracking. Careful attention to detail, proper categorization, and adherence to industry-specific billing practices are necessary to ensure the integrity of financial transactions and billing processes.

It is worth noting that certain expenses, such as taxes or non-reimbursable costs, may not be considered invoiceable. Each organization may have its own policies and guidelines regarding what can or cannot be included in an invoice.

In conclusion, the adjective invoiceable is used to describe items, services, or transactions that are eligible to be included in an invoice for billing purposes. Its usage is common in finance, billing, accounting, corporate finance, business finance bookkeeping, and invoicing fields.

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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