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Difference Between Purchase Order and Invoice in Accounts Payable

When it comes to accounts payable, the focus keyword "purchase order and invoice" plays a crucial role in the payment process.

A purchase order is a document issued by a buyer to a seller, outlining the details of goods or services to be purchased. It serves as a legally binding contract between the two parties.

On the other hand, an invoice is a bill issued by the seller to the buyer, requesting payment for the goods or services provided. It includes details such as the quantity, price, and terms of payment.

While a purchase order initiates the transaction by specifying the items to be purchased, an invoice completes the transaction by requesting payment for those items.

Understanding the distinction between purchase orders and invoices is essential for effective accounts payable management and ensuring accurate and timely payments.

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