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  #1  
Old 01-26-2016, 01:01 PM
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What is the difference between a bill, statement and an invoice?

Does anyone out there in accounting land know the difference between a bill, a statement and an invoice? If memory serves me right, statements and invoices are not signed whereas a true bill is signed by the biller?

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Old 01-26-2016, 01:14 PM
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Don’t know what you are after but a bill is typically a first notice of an amount due. An Invoice is the same thing. A statement usually reflects the current status of an account.
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Old 01-26-2016, 02:31 PM
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Invoice(aka quote)-you want XYZ, it's going to cost you $123

Bill-we did/sold XYZ, you owe us $123

Statement-These are the past ABC transactions we've had together, the $456 they cost, and where we stand now.
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Old 01-26-2016, 02:43 PM
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yes.
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Old 01-26-2016, 04:16 PM
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Quote:
Originally Posted by Simpler=Better View Post
Invoice(aka quote)-you want XYZ, it's going to cost you $123

Bill-we did/sold XYZ, you owe us $123

Statement-These are the past ABC transactions we've had together, the $456 they cost, and where we stand now.
That sounds about right.
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Old 01-26-2016, 04:27 PM
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I ignore all of them
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Old 01-26-2016, 05:17 PM
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^best answer
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Old 01-26-2016, 06:07 PM
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^best answer
Yup!
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Old 01-26-2016, 10:46 PM
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Old 01-27-2016, 02:47 PM
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If this is your last bill or notice as stated. Just throw it in the waste basket. Thinking that at least this is the last time I will hear from those suckers. .

Back on subject I consider an invoice as generally a more detailed accounting of the transaction described than a general bill. Although they can be almost identical as well.

A statement perhaps more of a general overall computation of dealng with the enterprise.

I also have no issues with the prior descriptions. We kind of consider them all as somewhat interchangeable. At the same time many corrected invoices leave no money owing. Again though you could say the same thing in general about the other two.
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Old 01-27-2016, 03:54 PM
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Quote:
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I ignore all of them
This reminds me of a very early Porky Pig cartoon where he plays a farmer. At one point he walks to his mailbox and removes the mail. Next he shuffles through the mail and then tears up all of the it and tosses it into the air. After that he 'looks into the camera' and says, "Bills".
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Old 01-27-2016, 04:33 PM
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Don’t know what you are after but a bill is typically a first notice of an amount due. An Invoice is the same thing. A statement usually reflects the current status of an account.
And the statements frequently have aging. Days past due. Ours become enhanced, shall we say, the older they get.

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