{"id":949,"date":"2017-05-16T06:10:15","date_gmt":"2017-05-16T06:10:15","guid":{"rendered":"https:\/\/invoice.ng\/blog\/?p=949"},"modified":"2017-05-16T06:50:40","modified_gmt":"2017-05-16T06:50:40","slug":"what-is-the-difference-between-invoice-and-receipt","status":"publish","type":"post","link":"https:\/\/invoice.ng\/blog\/what-is-the-difference-between-invoice-and-receipt\/","title":{"rendered":"Invoicing Tips: What is the difference between invoice and receipt?"},"content":{"rendered":"

Either\u00a0invoice<\/a><\/strong><\/em> or receipt<\/em><\/strong><\/a>, these are documents you\u2019ve heard about but you might not be aware of the subtle differences that make them exactly what they are.\u00a0Both invoice and receipt are non-negotiable commercial instruments, which are used during the course of a transaction.<\/p>\n

So, let\u2019s take a look at what both are, how they are used in business and when to be used;<\/p>\n

What is an invoice?<\/h3>\n

An invoice is an itemised list of products sold or services provided, along with the amount of money owed for each line item, and the total amount of money owed. An invoice<\/a><\/strong><\/em> is sent from the biller (business owner) to the client, in hopes of being paid within a certain period of time.<\/p>\n

We can also say that an invoice is a document, made by the seller and issued to the buyer, so as to authorise\u00a0a sale. It contains the details of the goods and contains the name and address of the parties to transaction, price, discount, date, and place of delivery.<\/p>\n

What is a receipt?<\/h3>\n

A receipt is different from an invoice in that an invoice is requesting payment for products or services received, whereas a receipt is a proof that the services or products have already been paid for.<\/p>\n

An invoice comes before the payment has been made, while a receipt comes after the payment has been made.<\/em><\/strong><\/p><\/blockquote>\n

Receipt, is a simple official acknowledgment, that the goods or services have been received. It is prepared by the vendor and given to the consumer and is used to show the ownership of the item.<\/p>\n

How are they used?<\/h3>\n

Invoices are used to request payment from buyers, keep track of sales, help control inventory and facilitate delivery of goods and services. Invoices are also used to track expected future revenues and to manage customer relationships by offering favorable payment options, such as extended time periods for payment or discounts for early payment or cash payment.<\/p>\n

Receipts are used by buyers or customers to prove they paid for an item, especially in return situations in which goods are faulty or defective.\u00a0So, if you would send an invoice after a service has been completed and money is owed, and then you would send a receipt after you receive the payment from the invoice.<\/p>\n

Conclusion<\/h3>\n

Both invoices and receipt are a prominent part of the purchase cycle. The invoice helps the seller to keep the record of sale and to determine that amount of merchandise has been received or not. The buyer can also track and match the details of goods or services listed on the invoice are received. The receipt can help the customers to track payments for the stuff and sellers can also identify that amount on which invoices is received and which ones are still outstanding.<\/p>\n

Need to send quick invoices or receipts online? Check out our innovative free online invoicing software<\/a> for small businesses like yours.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Either\u00a0invoice or receipt, these are documents you\u2019ve heard about but you might not be aware of the subtle differences that make them exactly what they…<\/p>\n","protected":false},"author":1,"featured_media":959,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":[],"categories":[35],"tags":[3,146,121,24,148,147],"yoast_head":"\nInvoicing Tips: What is the difference between invoice and receipt? - Invoice Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/invoice.ng\/blog\/what-is-the-difference-between-invoice-and-receipt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Invoicing Tips: What is the difference between invoice and receipt? - Invoice Blog\" \/>\n<meta property=\"og:description\" content=\"Either\u00a0invoice or receipt, these are documents you\u2019ve heard about but you might not be aware of the subtle differences that make them exactly what they...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/invoice.ng\/blog\/what-is-the-difference-between-invoice-and-receipt\/\" \/>\n<meta property=\"og:site_name\" content=\"Invoice Blog\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/theinvoiceapp\/\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-16T06:10:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-05-16T06:50:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/invoice.ng\/blog\/wp-content\/uploads\/2017\/05\/invoice-vs-receipt.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Small Business Digest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theinvoiceapp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Small Business Digest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/invoice.ng\/blog\/what-is-the-difference-between-invoice-and-receipt\/\",\"url\":\"https:\/\/invoice.ng\/blog\/what-is-the-difference-between-invoice-and-receipt\/\",\"name\":\"Invoicing Tips: What is the difference between invoice and receipt? - Invoice Blog\",\"isPartOf\":{\"@id\":\"https:\/\/invoice.ng\/blog\/#website\"},\"datePublished\":\"2017-05-16T06:10:15+00:00\",\"dateModified\":\"2017-05-16T06:50:40+00:00\",\"author\":{\"@id\":\"https:\/\/invoice.ng\/blog\/#\/schema\/person\/3ed588563b91c4447611867afe318745\"},\"breadcrumb\":{\"@id\":\"https:\/\/invoice.ng\/blog\/what-is-the-difference-between-invoice-and-receipt\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/invoice.ng\/blog\/what-is-the-difference-between-invoice-and-receipt\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/invoice.ng\/blog\/what-is-the-difference-between-invoice-and-receipt\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/invoice.ng\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Invoicing Tips: What is the difference between invoice and receipt?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/invoice.ng\/blog\/#website\",\"url\":\"https:\/\/invoice.ng\/blog\/\",\"name\":\"Invoice Blog\",\"description\":\"Small Business Blog in Nigeria for Business Owners, Freelancers & Entrepreneurs\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/invoice.ng\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/invoice.ng\/blog\/#\/schema\/person\/3ed588563b91c4447611867afe318745\",\"name\":\"Small Business Digest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/invoice.ng\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f76e0d2bc024ad28930a72cbf9d29f64?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f76e0d2bc024ad28930a72cbf9d29f64?s=96&d=mm&r=g\",\"caption\":\"Small Business Digest\"},\"description\":\"Small Business Digest is an online business magazine and publication for small business owners, entrepreneurs, and freelancers. Small Business Digest goal is to provide free and timely business resources and insights to help businesses grow.\",\"sameAs\":[\"https:\/\/invoice.ng\",\"https:\/\/www.facebook.com\/theinvoiceapp\/\",\"https:\/\/instagram.com\/invoice_ng\",\"https:\/\/www.linkedin.com\/company\/invoice\",\"https:\/\/twitter.com\/theinvoiceapp\"],\"url\":\"https:\/\/invoice.ng\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Invoicing Tips: What is the difference between invoice and receipt? - Invoice Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/invoice.ng\/blog\/what-is-the-difference-between-invoice-and-receipt\/","og_locale":"en_US","og_type":"article","og_title":"Invoicing Tips: What is the difference between invoice and receipt? - Invoice Blog","og_description":"Either\u00a0invoice or receipt, these are documents you\u2019ve heard about but you might not be aware of the subtle differences that make them exactly what they...","og_url":"https:\/\/invoice.ng\/blog\/what-is-the-difference-between-invoice-and-receipt\/","og_site_name":"Invoice Blog","article_author":"https:\/\/www.facebook.com\/theinvoiceapp\/","article_published_time":"2017-05-16T06:10:15+00:00","article_modified_time":"2017-05-16T06:50:40+00:00","og_image":[{"width":900,"height":500,"url":"https:\/\/invoice.ng\/blog\/wp-content\/uploads\/2017\/05\/invoice-vs-receipt.jpg","type":"image\/jpeg"}],"author":"Small Business Digest","twitter_card":"summary_large_image","twitter_creator":"@theinvoiceapp","twitter_misc":{"Written by":"Small Business Digest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/invoice.ng\/blog\/what-is-the-difference-between-invoice-and-receipt\/","url":"https:\/\/invoice.ng\/blog\/what-is-the-difference-between-invoice-and-receipt\/","name":"Invoicing Tips: What is the difference between invoice and receipt? - Invoice Blog","isPartOf":{"@id":"https:\/\/invoice.ng\/blog\/#website"},"datePublished":"2017-05-16T06:10:15+00:00","dateModified":"2017-05-16T06:50:40+00:00","author":{"@id":"https:\/\/invoice.ng\/blog\/#\/schema\/person\/3ed588563b91c4447611867afe318745"},"breadcrumb":{"@id":"https:\/\/invoice.ng\/blog\/what-is-the-difference-between-invoice-and-receipt\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/invoice.ng\/blog\/what-is-the-difference-between-invoice-and-receipt\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/invoice.ng\/blog\/what-is-the-difference-between-invoice-and-receipt\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/invoice.ng\/blog\/"},{"@type":"ListItem","position":2,"name":"Invoicing Tips: What is the difference between invoice and receipt?"}]},{"@type":"WebSite","@id":"https:\/\/invoice.ng\/blog\/#website","url":"https:\/\/invoice.ng\/blog\/","name":"Invoice Blog","description":"Small Business Blog in Nigeria for Business Owners, Freelancers & Entrepreneurs","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/invoice.ng\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/invoice.ng\/blog\/#\/schema\/person\/3ed588563b91c4447611867afe318745","name":"Small Business Digest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/invoice.ng\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f76e0d2bc024ad28930a72cbf9d29f64?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f76e0d2bc024ad28930a72cbf9d29f64?s=96&d=mm&r=g","caption":"Small Business Digest"},"description":"Small Business Digest is an online business magazine and publication for small business owners, entrepreneurs, and freelancers. Small Business Digest goal is to provide free and timely business resources and insights to help businesses grow.","sameAs":["https:\/\/invoice.ng","https:\/\/www.facebook.com\/theinvoiceapp\/","https:\/\/instagram.com\/invoice_ng","https:\/\/www.linkedin.com\/company\/invoice","https:\/\/twitter.com\/theinvoiceapp"],"url":"https:\/\/invoice.ng\/blog\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/invoice.ng\/blog\/wp-json\/wp\/v2\/posts\/949"}],"collection":[{"href":"https:\/\/invoice.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/invoice.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/invoice.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/invoice.ng\/blog\/wp-json\/wp\/v2\/comments?post=949"}],"version-history":[{"count":0,"href":"https:\/\/invoice.ng\/blog\/wp-json\/wp\/v2\/posts\/949\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/invoice.ng\/blog\/wp-json\/wp\/v2\/media\/959"}],"wp:attachment":[{"href":"https:\/\/invoice.ng\/blog\/wp-json\/wp\/v2\/media?parent=949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/invoice.ng\/blog\/wp-json\/wp\/v2\/categories?post=949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/invoice.ng\/blog\/wp-json\/wp\/v2\/tags?post=949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}