Definitions
- A document sent by a seller to a buyer that lists the goods or services provided and the amount due. - Referring to a bill or receipt for payment of goods or services provided. - Talking about a commercial document that serves as proof of a transaction between a buyer and a seller.
- A document that summarizes financial transactions, such as bank statements or credit card statements. - Referring to a declaration or assertion of facts or opinions. - Talking about a formal announcement or communication of information.
List of Similarities
- 1Both are documents used in business transactions.
- 2Both provide information about financial transactions.
- 3Both can be used as evidence of a transaction.
- 4Both may include details about the date, amount, and parties involved.
What is the difference?
- 1Purpose: An invoice is a request for payment, while a statement is a summary of financial transactions.
- 2Content: An invoice lists specific goods or services provided and their costs, while a statement summarizes all financial transactions within a period.
- 3Timing: An invoice is sent before payment is made, while a statement is usually sent after a period has ended.
- 4Audience: An invoice is sent to a specific buyer, while a statement may be sent to multiple parties or a general audience.
- 5Legal status: An invoice is a legally binding document that can be used in court, while a statement is not necessarily a legal document.
Remember this!
Invoice and statement are both documents used in business transactions, but they serve different purposes. An invoice is a request for payment that lists specific goods or services provided and their costs. A statement is a summary of financial transactions within a period, which may include details about the date, amount, and parties involved.
