FOOD TECHNOLOGY

Detailed explanation-1: -What Is a Purchase Invoice? A purchase invoice is an invoice used to record the purchase of goods or services by a company. The purchase invoice will include the same information as a regular invoice, but it will also list the terms of the purchase agreement and any discounts that were negotiated.

Detailed explanation-2: -When you send an invoice to a customer, you enter it as a journal entry to the accounting journal. For the journal entry, you can document the total amount due from the invoice as a debit in the accounts receivable account. You also list the total amount due from the invoice as a credit in the sales account.

Detailed explanation-3: -Sales vs. Invoices detail what a buyer owes to a seller. From a seller’s point of view, an invoice for the sale of goods and/or services is referred to as a sales invoice. From a buyer’s point of view, an invoice for the cost of goods and/or services rendered is referred to as a purchase invoice.

Detailed explanation-4: -It is used to indicate how much money the buyer owes to the seller. Purchase invoices are also commonly known as bills, statements or sales invoices.