Vendor invoice

A vendor invoice is a document listing the amounts owed to a supplier by the recipient. When a customer orders goods and services on credit, the supplier prepares an invoice and issues it to the customer. This vendor invoice contains not only a listing of the amounts owed, but also any sales taxes and freight charges, as well as the date by which payment should be made, and where to send payment. Upon receipt, the customer enters the invoice into its accounting software, and schedules it for payment.

No vendor invoice is issued if a customer pays in cash; in this case, a receipt is prepared for the customer, or an invoice that is stamped "paid".

Related Courses

Payables Management