What Is an Invoice? Why Is It So Important? How to Pay Invoice Online?

Jan 25, 2023 | Invoice

Zil Money is a financial technology company, not a bank or an FDIC member. Zil Money offers banking services through partnership with FDIC member banks Silicon Valley Bank and Texas National Bank.

  • Are Bill and Invoice the same?
  • What is Bill?
  • What is an Invoice?
  • Bill vs Invoice.
  • Functions of Invoice.
  • Invoice management by Zil Money.
  • Zil Invoice Management in Work.

Thanks to Zil Money, invoice management is now effortless; you can create and manage invoices for your business and pay the invoice on time.

Are Bill and Invoice the Same?

Businesses and customers use “invoice” and “bill” interchangeably because both contain transaction information and are part of the buying process. However, bills and invoices differ in every manner.

What Is Bill?

A bill is just how you pay for something you’ve already gotten. The bill will say how much you have to pay for the item or service. This can help you determine where your money should go and what you owe to suppliers, customers, or other businesses. 

What Is an Invoice?

An invoice is a business document that lists the goods or services sold and how much they cost. It can be on paper or in a PDF or other digital file. An invoice will include a description of the goods or services, the amount owed, the date it is due, and the most recent payment.

Bill vs invoice

A bill and an invoice are both used to request payment for goods or services, but they are slightly different in terms of when they are issued and their intended recipient.

A bill is typically issued by a vendor or service provider to a customer for goods or services that have already been received or rendered.

An invoice is a business document that shows what was bought and sold, when it happened and what was paid. If goods or services were bought on credit, the invoice usually lists the terms of the deal and how payment can be made.

Functions of Invoice

Sale confirmation and details – The invoice confirms that the order was received, and lists the order details, the number of items sold, and the information about the seller and the buyer.

Remind customers to pay Invoices on time: Invoicing reminds customers of the payment amount and deadline.

Tax record: The invoice is also a written record that can be used for tax purposes. Details like sales tax, other statutory fees, and more can be found on the invoice.

Invoice Management by Zil Money

Zil Money’s Invoice Management makes sending payment requests and collecting them digitally will make everything so easy. Zil Money lets you email or text customers’ bills immediately, along with a payment link for payment purposes, now giving your customer a choice to pay invoices easily. Also, tools offered by Zil Money allow you to track your money and reduce your workload. Zil Money invoice management makes invoicing simpler, faster, and more adaptable.

Zil Invoice Management in Work

You can finish the invoicing process with Zil by following these simple steps.

  • From your dashboard, you can make a payment request.
  • Choose your customer and add the amount and any other needed documents.
  • Send Payment requests via email/SMS.
  • Quickly see how your payment is going and keep track of it. 

Zil Money is an excellent choice if you want an easy way to make and send payment requests. Zil Money makes it easy to manage and pay an invoice by giving you tools to keep track of your money and make your work more accessible. In addition, Zil Money can help your business grow faster and more smoothly with its team workflows, automated invoice processing, and easy-to-use interface.

Get in Touch

(408) 775-7720

Make a call directly with our customer support team to make it instantly.


Mail to us to solve any queries you have with Zil Money.

111 N Market St, San Jose, CA 95113

Po Box 6543, Tyler TX 75711

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