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WHAT IS THE DIFFERENCE BETWEEN A SALES INVOICE AND A PURCHASE INVOICE?

April 26, 2017difference invoice purchase sales

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WHAT IS THE DIFFERENCE BETWEEN A SALES INVOICE AND A PURCHASE INVOICE?

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The difference is who generated the piece of paper. The seller prepares an invoice for the goods to be sold to the buyer. On the seller’s books, this is a sales invoice, but on the buyer’s books, it represents a purchase invoice, since the buyer is purchasing the goods. The seller uses its copy of the invoice to record a sales transaction, and the buyer uses its copy of the invoice to record the purchase of merchandise.