Difference Between Estimate and Invoice
An estimate and an invoice are two important documents use in accounting and finance.
An estimate is a document that provides a tentative cost or value for goods or services that are yet to be provide. It is an approximate calculation of the expect costs or charges for a particular job or project. Estimates are often given to potential customers to provide an idea of the cost of a job or project before it is start. They do not a final bill and may change based on any changes to the scope of work or materials require.
An invoice, on the other hand, is a document that can issue after the goods or services have provide. It is a request for payment from a customer for the goods or services provided. An invoice includes details such as the name of the seller, the name of the buyer, a description of the goods or services provided, the price, any applicable taxes, and the payment terms.
In summary, an estimate is a preliminary calculation of the expect costs or charges for a job or project, while an invoice is a request for payment after the goods or services have been provide.
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