The words statement and invoice are frequently used interchangeably. So you should know what is the difference between statement and invoice. During many times this is right. Invoice is a kind of statement, but statement is not an invoice always. There are so many examples where a document of a business may serve as a combined statement and invoice of account. In comparing a statement and invoice, the dissimilarity can be analyzed easily.
An invoice may be defined as a payment request which means a statement or a bill of money owed. An invoice will display the charges for the goods purchased or services provided. The paid invoice utilized as a proof of partial statement or purchase of the account. A statement as a document of business means a report. Frequently a statement will show the debits and credits in an account also with a payment request, in which it doubles as an invoice.
Statements such as bank statements to the account holders perform as a continuous record of credit and debit transactions in one specific account. For example, if a customer holds a savings account, current account and one or more than one certificate of deposit with a financial institution, the regular procedure is for the bank to send regularly programmed reports separately on each account to the account holder. These examples are not invoices as they are not requesting payment.
Instances of invoices that are clear bills which the average consumer will accept on a routine basis are an invoice for electric service that is the invoices for water, electric bill and cable bill, sewer, internet, dry cleaning, phone and so on. The common statement examples that are clear reports, that do not include a payment request, are brokerage account and bank statements and are common with the statement of monthly credit card.