What would be more accurate? Generating invoices or sales receipt for a rental management business? Payments are due on the 1st of each month, while payments are sent around that date. Sometimes earlier and sometimes later.
Allow me to share more details about the difference between Invoice and Sales Receipts.
Invoices are sent to a customer to remind them that the due date is in the first week. With this, they have the option to pay it earlier before the due date. You can also let them pay an additional fee if they exceed 2 to 3 days after the due date, depends on your agreement with the lessee.
The sales receipt can be issued to a lessee if you have their actual payment.