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Correct accountancy term

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cyrilbiker | 14:28 Sat 03rd Feb 2007 | Business & Finance
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What is the difference between an INVOICE and a BILL.

Thanks for any advice offered.
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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...
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.
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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.
In UK, "invoice" usually means a VAT invoice.

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