Invoice vs receipt
An invoice is a request for payment sent before money changes hands; a receipt is proof of payment issued after — different documents, different jobs.
An invoice is a request for payment; a receipt is proof of payment. The invoice comes first and asks for money owed; the receipt comes after and confirms money paid.
How it works
- An invoice lists what’s owed, the terms (e.g. Net 30) and a due date — it creates an accounts receivable entry.
- A receipt is issued once payment clears, acknowledging the transaction is settled.
- Same transaction, two documents, two moments: obligation, then discharge.
One asks; the other confirms. Mixing them up muddles what’s actually been collected.
Why it matters
For bookkeeping, the distinction is the difference between “billed” and “paid” — revenue you’re owed versus cash you hold. Customers need receipts for their own records and tax claims, and businesses need invoices to prove and chase what’s due. Sending a receipt when you meant an invoice can quietly signal a bill as settled when it isn’t.
How Fynex does it
Fynex issues invoices with branded payment links, then auto-reconciles each payment and posts it back to your books — so the “paid” confirmation is automatic, not a second document you chase. See Invoicing & Collections.