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Account is a payment related document where the seller provides contract information from between him and the buyer. The bill is also called as financial statements and therefore should be a strong emphasis on business with any organization. It is a statement of payment and maturity along with the due date payments are due. There are even options for prepaid and discounts available at the Basic. The bill can even compare the information about the product made in advance of delivery. Thus, it is a financial statement of the business for both buyer and seller.
There are various types of bills or invoice used in business. They are like the proforma invoice, credit memo, invoice, Debit notes, and much more. Proforma invoice is found to be used more and more in foreign trade. This is a commitment statement from the vendor to a buyer. With this they enter the settlement date of delivery and others. The payment terms are also saved in such a statement. A credit memo is given when some products are returned by the purchaser. They include the repayment obligations. This is more a refund of money already paid.
The mainly used another type of account called debit account. This is a commitment given to the seller by the buyer for the debit amount to be paid within the time or fine. This is great value as it is used for legal action if the buyer does not pay at maturity. The commercial invoice is used where ships and other types of things involved in the middle of delivery and payment. This is supported by an invoice system that carries a lot of value on the trade account.
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