Statement vs. invoice — what’s the difference?
When you use statements and invoices correctly you can not only make your business more efficient, you can also make collecting customer payments faster and easier.
Businesses need to send statements and invoices to customers, and sometimes even to third-parties. Discover the difference between a statement and an invoice, plus learn how to digitally send them. Certain apps make it simple to create, sign, and share statements and invoices. When you understand which one to send and when, collecting payments becomes just that much easier.
What’s a statement?
A statement is a document outlining all outstanding unpaid invoices (or bills) for a certain customer. Unlike invoices, statements are typically sent or made available at certain intervals. For example, many businesses send statements at the end of each month or quarter to individuals who have an outstanding balance.
Statements are traditionally informal. They’re used primarily for informational purposes because a customer may pay an invoice while a statement is in transit. For example, if a customer receives a statement in the mail the same day they pay an invoice, the statement is inaccurate. Learn how to easily create a statement template.
What’s an invoice?
An invoice is a formal document outlining amounts owed, details about a transaction, costs per hour or unit, and more. Essentially, invoices are sent to customers or other businesses in order to receive payment.
Invoices also typically outline payment requirements. For example, a business may indicate that payment is due 30 days from the date services were rendered or a product was delivered.
With e-signature software like Adobe Sign, digital invoices let customers review, sign, and pay electronically on nearly every device and from anywhere — making it easier to keep detailed records and collect payments promptly.
Want to know how? Explore everything you can do with Adobe Sign to level up your business today.