Correct accountancy term

[cyrilbiker]

What is the difference between an INVOICE and a BILL.

Thanks for any advice offered.

[Clanad]

I'm sure there are professional definitions of both terms that may be applicable in a narrow sense, however, here in the U.S., an invoice is a formalized description of goods or services rendered or delivered and the charges, usually itemized, expected in payment, whereas a bill is less formal and usually lists only the barest of descriptions of the same goods or services. For all practical purposes however, there's little difference...

[-Zorro-]

My firm send out a "bill" we call Fee Note.......it is legally payable and when we get paid we issue an invoice, which is a VAT Invoice. The client cannot claim VAT on the Fee Note as it says that fact it.

They have to pay the bill and get a VAT invoice before they can claim the VAT on our bill.

[cyrilbiker]

Thanks for that Clanad. I can remember when being taught accountancy that Bill is a mans name and an invoice is..... So there is a difference howerve minute.

Cheers.

[Nether Edge]

In UK, "invoice" usually means a VAT invoice.