Business Documents
Invoice vs. Receipt vs. Estimate vs. Quote: What's the Difference?
Understand when to use each business document — and how they fit together in a typical sale.
By Billora Editorial Team · Published · Updated
The document lifecycle of a sale
Most sales move through a predictable series of documents: an estimate or quote to agree the price, sometimes a purchase order from the buyer, an invoice to request payment, and a receipt to confirm payment was received. Credit notes adjust invoices after the fact.
Side-by-side comparison
| Document | Purpose | Issued by | When |
|---|---|---|---|
| Estimate | Approximate cost | Seller | Before work |
| Quote | Fixed price offer | Seller | Before work |
| Purchase order | Order goods/services | Buyer | Before delivery |
| Invoice | Request payment | Seller | After delivery |
| Receipt | Confirm payment | Seller | After payment |
| Credit note | Reduce amount owed | Seller | After invoicing |