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Accounting & Tax vocabulary · Invoices & Payments

Invoice

Meaning in accounting & tax, with examples

/ˈɪnvɔɪs/nounCore term

In accounting & tax, invoice means: A document a seller sends to a buyer listing the goods or services supplied, the amount due, any VAT and the payment terms.

In Turkish: fatura

How it is used

Suppliers issue, send or raise invoices; customers receive, approve and pay them. An invoice can be outstanding, overdue or disputed. It is also a verb: we will invoice you at the end of the month.

Example sentences

  1. Could you issue the invoice in euros and include our tax number?

  2. We have three overdue invoices from August that the customer hasn't paid.

Common collocations

  • issue an invoice
  • pay an invoice
  • outstanding invoice
  • invoice date
  • e-invoice
  • accounts receivableMoney that customers owe a company for goods or services it has already delivered on credit, and also the team that collects those payments.
  • accounts payableMoney a company owes to its suppliers for goods or services bought on credit, and also the team that processes and pays those supplier invoices.
  • payment termsThe conditions agreed between buyer and seller about when and how an invoice must be paid, such as 'net 30' or a discount for early payment.
  • credit noteA document a seller issues to reduce or cancel an amount a customer owes, for example after returned goods, a pricing error or a discount.
  • VATValue added tax: a tax on the sale of most goods and services, collected at each stage of the supply chain and finally paid by the end consumer.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Invoices & Payments

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This page explains English vocabulary for learners. It is not financial advice.