Definition: A bill; a commercial document issued by a seller to a buyer indicating the products, quantities and agreed prices for products or services that the seller has already provided the buyer with. An invoice indicates that, unless paid in advance, payment is due by the buyer to the seller, according to the agreed terms.
Alright class, settle down, let’s take a look! Today we're tackling a word that pops up a lot when it comes to business and buying – “invoice.” Now, the dictionary gives us a good definition, but let’s break it down in a way that makes sense. Think of an invoice like this: It’s a bill, you see, a formal request for money! Let's unpack that sentence piece by piece: "A bill..." – That’s right! It’s a written record saying “You owe me!” "...a commercial document..." - This means it's a special kind of paper, used in the world of trade. "...issued by a seller to a buyer..." – The person selling something (the seller) sends this document to the person buying it (the buyer). "...indicating the products, quantities and agreed prices…” - This is where all the details go! It tells you exactly what was sold, how much of each thing there was, and how much it cost. Like saying “Two apples for $2.00!” "...for products or services that the seller has already provided the buyer with.” – You've received the item or service! The invoice is just confirming you’re now responsible for payment. "An invoice indicates that, unless paid in advance, payment is due by the buyer to the seller, according to the agreed terms." - This is key! It reminds us that we need to pay up – and it tells us when we need to pay (according to the deal you made). Think of it like this: You order a pizza. The restaurant sends you an invoice later showing what you ordered, how much it cost, and when they expect payment. Do you have any questions about invoices? Don't be shy! Let’s make sure everyone understands the concept – it's a really important part of how businesses operate.