Module 3 Pro6 min read

Invoices, bills and receipts

What each document is, who sends it, and what must legally be on it.

Bookkeeping runs on paper (or PDFs pretending to be paper). Three documents do almost all the work, and beginners mix them up constantly because they look similar. They are not. Each one is a different sentence:

An invoice says: "You owe me. Here is how much and by when."
A bill is the same document seen from the other side: "I owe them."
A receipt says: "This has been paid. The debt is closed."

The life of one invoice

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