It might seem obvious – but do you know the difference between an invoice and a receipt? 

A common mistake we see from small business owners is that they don’t know the difference between the two. 

This can result in confusion and mistakes when managing your finances! 

Simply put, an invoice is the bill that you send to your customer after they have received your service. 

A receipt, on the other hand, is the proof that a transaction took place – it’s given to the customer after they’ve paid you.

If you mix them up, it becomes very challenging to balance your books efficiently.

What ends up happening is you can’t tell what's completed and what's ongoing! 

The last thing you want is to miss out on money that's owed to you due to a simple mishap or mismanagement of your paperwork. 

So know the difference, write your invoices and receipts when the transaction occurs, and you’ll be laughing all the way to the bank – feel free to reply to this email or give us a call and we’ll be right there with you, laughing along the way!