A revised invoice is given to correct errors or changes in the original invoice, for example, incorrect pricing, quantities, tax or customer details.
Adjustment Note
A formal document used to record financial corrections, such as relating to an invoice (refunds, returns, discounts, or billing errors).
Advance Billing
The stating of an invoice and demanding fees before supplying goods or putting finished services (regularly with respect to subscriptions or advance orders).
Authorized Payment
A payment which has been formally acknowledged by the payer, granting the business the right to process such a payment through an agreed-upon payment method.
Back Order
A scenario in which an order cannot be filled immediately because there is not enough inventory to fill the order, but it will be available when it is replenished.
Bill of Lading
A legible & signed transport document that serves as the proof of shipment, receipt of goods & terms of carriage of goods between the shipper & the carrier.
Billing
The preparation of invoices and the process of asking customers for payment for goods sold or services rendered.
Billing Address
The formal address allied to customer's account, where the invoices and billing correspondences are sent.
Billing Cycle
A recurring schedule specifying how often bills are created and billed to customers.
Billing Dispute
A disagreement that is raised by a customer relating to invoice charges, quantities, pricing or services billed.
Billing Period
The exact amount of time that billable transactions are accumulated before a bill is sent.
Billing System
An integrated system of tools, processes and software for the creation of invoices, collection of payments and management of billing records.
Bounced Payment
A failed transaction on payments due to failure of such factors as insufficient funds or wrong details or bank rejection.
Bulk Billing
A method of billing in which several charges or transactions are combined in a single bill of invoicing.
Cash Discount
A discount offered to customers that make payments before a certain early payment date.
Charge Description
A clear explanation included on an invoice that states the nature of every item or service billed.
Client Billing
The invoicing process customized to clients according to either agreed pricing, contracts or service terms.
COD (Cash on Delivery)
An arrangement of payment whereby the customer pays for the goods when they are delivered rather than paying for them in advance of their delivery.
Collection Letter
A formal reminder sent to customers of over due invoices requesting settlement.
Consolidated Billing
A method of billing in which a group of invoices or charges are combined into a single invoice or as one statement, in order to make the payable easier.
Contract Billing
Billing based on pre-defined contractual terms such as rates, milestones or recurring charges.
Credit Invoice
An invoice created to decrease the amount a customer is due for over returned charges, overcharges, or agreements to change the charge.
Custom Invoice
An invoice created with customised fields, layouts or details based on specific customer requirements.
Customer Account
A record that keeps track of the billing history of a customer, their invoices and payments and outstanding balances on their bill.
Customer Invoice Number
A unique reference number is provided against each invoice for tracking, reconciliation and communication.
Customer Payment
Money received from a customer to cover the amount of an invoice or outstanding account balance.
Daily Billing
A billing practice where the generation and issuing of invoices are performed on a daily basis.
Debit Invoice
An invoice issued to raise the amount of money to be paid by a customer as a result of extra charges or corrections.
Delivery Invoice
An invoice of the time, when goods or services are delivered, confirming the amount of the payable amount.
Deposit Invoice
An invoice that requires some amount of money upfront before completing or providing the goods or services.
Duplicate Invoice
A reissued copy of the original invoice if the original has been lost or is mislaid.
Dynamic Billing
A billing strategy in which the bills are dependent on the usage, consumption or by the real-time pricing.
E-Billing
The electronic production and delivery of invoices via digital instead of physical.
E-Invoice
A digitally created invoice designed and transacted in a spot with digital format for more speed of processing and compliance.
Escalation Process
A structured process of resolving the billing issues by involving higher level authorities or management.
Estimation
A calculated approximation of expected amount of costs provided to customers before final billing.
Fee Schedule
Sort of a checklist of prices for services or products provided by a business.
Final Demand Notice
A formal notice given to recover overdue payments before being taken to legal action or recovery action is taken.
Flat Rate Invoice
Charging an invoice of a sum of money regardless to the time, quantity or resources used.
Freelancer Invoice
An invoice from independent professionals that will bill clients for work completed or services performed.
Gross Amount
The total value of the invoice before discounts, deductions or adjustments have been applied.
GST Invoice
Tax Compliant Invoice (Applying Goods and Services Tax as per Law).
Hourly Invoice
An invoice based on the number of hours worked times an agreed upon hourly rate.
Incentive Billing
A billing model that offers discounts or benefits to customers for making timely payments or using large amounts of the service.
Indirect Invoice Tax
Taxes levied on services or expenditures that are not directly related to manufacturing and producing activities.
In-House Billing
An in-house billing process, which is managed by a company, and does not outsource to other providers.
Installment Invoice
An invoice that the customers can use to pay the entire amount in set portions over a period of time.
Integrated Billing
A combined billing system which combines charges from multiple departments or services.
Interim Billing
Partial billing issued to the customer during various phases of a project before it is finally completed.
Invoice
Commercial document: UC BTM written by a seller which classifies goods or services supplied and amount payable, taxes and payment terms in detail.
Invoice Aging
Classification of unpaid invoices based upon the length of time the account has been outstanding.
Invoice Approval
The process within a company, prior to issuing or paying accounts, of checking and authorizing the invoice.
Invoice Balance
The balance remains unpaid on an invoice after deducting payments or adjustments made on it.
Invoice Batch
A group of invoices that have been processed together in order to achieve greater efficiency and consistency.
Invoice Discounting
A financing arrangement in which unpaid invoices are used in obtaining short-term funds.
Invoice Due Date
The last date on or before which an invoice must be paid in order to avoid penalties.
Invoice Factoring
A method of funding, in which invoices are sold to a third party for cash immediately.
Invoice Financing
A loan or advance by way of outstanding invoices as collateral.
Invoice Matching
The verification process of matching the invoices against purchase orders and delivery records.
Invoice Number
A sequential or unique identifying character that is used to track and control invoices.
Invoice Payment Plan
An agreed set structure to pay invoices in several instalments.
Invoice Processing
The end-to-end workflow for invoice creation, validation, dispatch and payment tracking.
Invoice Reconciliation
The process of verifying that the invoice records are in line with payment and accounting recording.
Invoice Splitting
Organising a single invoice into smaller amounts to be paid at a phased or partial level.
Invoice Template
A standardised format of the invoice that will provide consistency and compliance.
Late Fee
An additional charge is charged when payment of an invoice is not made within the period of time of the invoice.
Late Payment Charge
A penalty is charged on overdue invoices in accordance with agreed payment terms.
Minimum Payment
The minimum amount of money that a customer will have to pay in order to keep the account in good standing.
Monthly Billing
A billing cycle in which the invoices are sent once each month.
Multi-Currency Invoice
An invoice that supports more than one currency.
Non-Billable Item
Goods or services that are offered free of charge, sometimes to promote or to obtain goodwill.
Non-Payment Notice
A formal reminder is emailed to customers for unpaid invoices.
Online Billing
A web-based invoicing system for providing for digital delivery of the invoice and payments.
Open Invoice
An invoice is issued and left unpaid.
Outstanding Balance
The total amount due by a customer from several invoices that have not been received by the customer.
Outstanding Invoice
An invoice that has not been resolved by the customer.
Overbilling
Charging a customer more than agree or correct amount.
Overdue Invoice
An invoice which is not paid off after the due date.
Partial Billing
Creating invoices for part of work done or services provided.
Partial Payment
Payment made towards an invoice which does not pay the entire amount.
Payment Authorization
In business, there is customer consent for the business to process a payment.
Payment Gateway
Secure a service for processing electronic payments between customers and businesses.
Payment Method
The mode which a customer chooses to use to pay, such as cash, card or account transfer, etc.
Payment Reminder
A communication that is sent out to call customers to pay outstanding bills.
Payment Schedule
A time line giving the timing and amount of due invoice payments.
Payment Terms
Conditions which define invoice due dates, discounts and penalties.
Penalty Charges
Laxity in charging extra fees for failure to comply with the payment or contractual terms.
Per-Unit Billing
Charging customers on the basis of the quantity sold or consumed.
Post-Invoice Adjustment
Corrections made to an invoice after the invoice has been issued.
Prepayment Invoice
An invoice sent for the payment of money to be used in advance for the total amount owed by the delivery of the goods.
Pricing Model
The framework that is used to determine the pricing process of products or services.
Processing Fee
An extra charge to be paid for transaction handling costs.
Professional Invoice
Formal bill rendered by qualified service providers.
Proforma Invoice
A preliminary invoice is given prior to final billing.
Progress Billing
Billing, which is issued at intervals as the work is accomplished.
Purchase Invoice
An invoice was received from a supplier for some purchases.
Purchase Orders
Formal documents which authorize the purchase of goods or services.
Quotation
A claim to buy or sell goods or services by way of a formal price offer.
Rate-Based Billing
Some billing is computed by predetermined rates.
Rebill Invoice
An invoice given to collect further and/or corrected charges.
Rebillable Expenses
Expenses incurred on behalf of clients and later charged in an invoice.
Recurring Billing
Automated billing on regular intervals.
Refund Request
A customer's formal request to be reimbursed for money.
Reimbursement Invoice
An invoice for recovering out-of-pocket expenses.
Remittance Advice
A confirmation from customers with the information of payment made.
Renewal Invoice
An invoice that is issued to extend services or subscriptions.
Revised Invoice
An updated version of a previous invoice because of corrections made.
Sales Order
A document which acknowledges a customer's order.
Scheduled Invoice
An invoice is automatically created at regular intervals.
Service Charge
An extra fee was levied for rendering services.
Statement of Account
Summary of all transactions between the business and the customer.
Tax Invoice
An invoice indicating the applicable taxes that were charged on supplies.
Third-Party Billing
Billing in which the payment is the liability of a third party.
Tiered Pricing
Pricing that is based on the quantity level.
Transaction History
A record of all the billing and payment activities.
Transaction-Based Billing
Billing according to the individual occurrence of the transaction.
Underbilling
Charging less than the correct, agreed-upon amount.
Usage-Based Billing
Billing based on actual levels of consumption.
Utility Billing
Charging for necessary services by measured usage.
Void Invoice
An invoice was cancelled and made invalid.
Work Order Invoice
An invoice is created after a work order has been completed.
Write-Off Policy
Rules concerning businesses in the removal.
Zero-Balance Invoice
An invoice with no sum due through a full settlement.
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