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An invoice, bill, tab, or bill of costs is a commercial document that includes an itemized list of goods or services furnished by a seller to a buyer relating to a sale transaction, that usually specifies the price and terms of sale., quantities, and agreed-upon prices and terms of sale for products or services the seller had provided the buyer.
Challan or Chalan is a common Hindi word (चालान, cālān) that has become an Indian English technical word used officially in many professional, especially financial transactions. It usually means an official form or receipt of acknowledgement or other kind of proof document , piece of paperwork, police citation , etc.
Although a typical purchase order may not be worded as a contract (in fact most contain little more than a list of the goods or services the buyer desires to purchase, along with price, payment terms, and shipping instructions), the purchase order is a specially regarded instrument regulated by the Uniform Commercial Code or other similar law which establishes a purchase order as a contract by ...
Electronic data interchange (EDI) is the concept of businesses electronically communicating information that was traditionally communicated on paper, such as purchase orders, advance ship notices, and invoices. Technical standards for EDI exist to facilitate parties transacting such instruments without having to make special arrangements.
The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed.At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment.
Invoice processing : involves the handling of incoming invoices from arrival to payment. Invoices have many variations and types. In general, invoices are grouped into two types: Invoices associated with a company's internal request or purchase order (PO-based invoices) and; Invoices that do not have an associated request (non-PO invoices).
Universal Business Language (UBL), ISO/IEC 19845, is an open library of standard electronic business documents and information models for supply chain, procurement, and transportation such as purchase orders, invoices, transport logistics and waybills.
Portrait of the Italian Luca Pacioli, painted by Jacopo de' Barbari, 1495, (Museo di Capodimonte).Pacioli is regarded as the Father of Accounting. Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations. [1]