on 01-21-2008 5:56 AM
Can any please tell the exact difference between Invoice and Billing
Thanks
Dear Vishal,
The difference is in the terminology. When a bill is not in the proper format or when it is not a legal document. It is known as an Invoice. Many times we need this for making an entry in security register etc
Billing is a standard format and is a legal document.
Do let me know in case of any queries.
Hope this helps you.
Do award points if you found them useful.
Regards,
Rakesh
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hi,
physically, there is a difference between Invoice & Billing.
Billing is the last / final settlement between client & his customer.
Earlier to that, whatever you raise is Invoice.
ie for eg the terms of payment are 10% advance, 50% against material & Rest against balance, then
10% & 50% are Invoices & the Rest 40% will be termed as Billing.
Hope u r clear with the example.
Regards,
Laxmikant
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There is no difference between Billing & invoice much.
Billing Types that represent the different business transactions in billing. SAP has defined various Billing Types e.g. order related billing, delivery related billing, Credit Memo, Debit Memo, Proforma Invoice, Invoice for services rendered, invoice list.
All billing documents are not invoices but invoice is billing document.
Billing document is general term whilst iinvoice refers to specific transaction like credit memo or proforma invoice.
Billing & invoice can be unpaid or paid. e.g. Advance payment billing where you raise invoice for advance payment.
Invoice List contains any tuype of bills together. Its not a single invoice but grouped invoices, credit memo debit memo etc. In SAP you assign Billing Type to Invoice List to group together. e.g. F1 + F2 + G2 +L2= LR
Please be sur ethat you are not confused when asked in interview. Invoice is for both : Vendor Invoice and Customer Invoice.
Both are same in SD point of view.
- In SD terminology we call as Billing Document and
- In FI terminology we call as INVOICE.
- In MM again only INVOICE will be there for Vendors.
Billing Tcodes:
- VF01 create billing document. The delivery order comes up auto.
- VF02 the billing doc comes up auto . View the accounting enteries
Invoice Tcodes:
- FB60 Create invoice with respect to rawmaterial and tax.
- FB70 Invoice entries with respect to sales and tax
Billing = Accounts Payable = Goods/Services Received from Suppliers.
Invoicing = Accounts Receivable = Goods/Services Delivered to Customers.
no difrernce
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hello, friend.
billing document is a general term that includes your sales invoice, debit memo, credit memo and cancellation documents.
in layman's term, invoice usually refers to the sales invoice, or what you send to your customer as your company's bill or charges.
regards.
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both are same in SAP terminologies.
regards,
Kaleeswaran
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