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Understand the difference between invoices, sales receipts, bills, and statements in QuickBooks Online

by Intuit•1• Updated 1 month ago

This article defines an invoice, sales receipt, bill, and statement so you can properly enter these transactions in QuickBooks Online.

  • An invoice informs your customers of what they owe you for work items, goods, or services.
  • A sales receipt records goods or services paid for immediately at the time of purchase (sometimes referred to as a “point of sale” purchase).
  • A bill is an invoice sent to you by a supplier for work items, goods, or services.
  • A statement shows what a customer still owes you at a certain time. It includes a summary of all sales, credits, and payments in each line item.

You will:

  • Send invoices to bill customers for work items, goods, or services.
  • Send statements at regular intervals to remind customers of what they owe you.
  • Create sales receipts to record payments customers made when they purchased the good or service.

Customers will:

  • Send you bills to charge you what you owe for work items, goods, or services. You can record the bill payment in QuickBooks Online.

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