The invoice date represents the time-stamped time and date on which the goods have been billed and the transaction officially recorded. Therefore, the invoice date has essential information regarding payment, as it dictates the credit duration and due date of the bill.

When should the invoice date be?

The invoice date should be the date the invoice was created by the seller. The ship date is the date the goods are actually shipped. Purchase order date is the date the purchase order is created by the customer. Payment terms will usually be in relation to the invoice date.

What is the difference between invoice date and due date?

What is the difference between the invoice date and due date? The invoice date refers to the date when the invoice is created on the bill book, while the due date refers to the date when the payment is due against the invoice.

What is the importance of invoice date?

The Importance of Invoice Date The invoice date represents the time-stamped time and date on which the goods have been billed and the transaction officially recorded. Therefore, the invoice date has essential information regarding payment, as it dictates the credit duration and due date of the bill.

What are billing cycles?

A billing cycle, also referred to as a billing period, is the interval of time between billing statements. Although billing cycles are most often set at one month, they may vary in length depending on the product/service rendered. Typically, the billing cycle lasts anywhere between 20 and 45 days.

Are invoices important?

Why Do You Need an Invoice? Businesses need to create invoices to ensure they get paid by their clients. Invoices also help businesses track their sales and manage their finances. Invoices provide valuable data regarding how your sales change over time and can help you create accurate business forecasts.

Whats the difference between an invoice and a bill?

An invoice is sent, while a bill is received. When you send an invoice to a customer, the customer then receives it as a bill- its all about the perspective. In short, an invoice means you are requesting money, and a bill means that you are required to pay for something.