Difference Between Receipt and Invoice
We get a receipt for a payment which we make when we purchase something in the market. An invoice is raised for the good or service provided by us to a retailer or manufacturer. Many people become confused while using the words receipt and invoice. Let us discuss the difference between the two.
Invoice
When someone supplies the raw material to a factory, he sends a missive to the factory with a request to make a payment for the invoice sent earlier and which is due. We can say that invoice is a reminder of the payment. It contains the rates of the goods supplied along with other details about it. It contains grand total of the payment to be made. An invoice is bill. It includes the taxes also. If fact, an invoice is a document proving that the material is supplied to a party. It entitles the sender of the goods to have payment within a specific period.
Receipt
A receipt is a document containing the rates of the items purchased from a vendor. A receipt proves that the payment is made for the items purchased from vendor in the market. It may be that your are just going to pay for the items.
Difference between Receipt and Invoice
Invoice tells what a buyer needs to pay while a receipt tells about what has been paid on the purchase of goods. A receipt contains the details of the items and their price. It is a proof that the payment has been made. An invoice on the other hand a reminder of the payment which is due in the buyer. The invoice specify terms and condition of the payment. Thus receipt is a proof of the payment which has been made while invoice is the demand for payment.