An invoice is generated before the payment has been made, while a receipt is made after the payment has been done. In addition, an invoice contains more legal details than a receipt does.
#Openoffice templates invoice serial number#
Invoices make the process of filing taxes convenient. Moreover, invoices are issued to manage cash flow and list out the terms and conditions for the customers. These help track and predict the cash entry and flow in the business and help assume when the sale is due. In accounting, invoices are used to measure and keep a record of payments that are due, outstanding sales, or payments meant to be received.