Learn English – Invoice for an advance payment vs.

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I'm developing an invoicing system, but I'm struggling to find the right terms to use. (The application itself is in another language, but the database terms are all in English.)

Customers get an invoice every January, with estimated costs for the services they will use.

Then, in December, they get an invoice with a correction (may be debit or credit).

I will define the first invoice as 'advance', but what would I call the second invoice? Settlement? I need to make this distinction, because the system has to take the advance payment in consideration when issuing a new (…) invoice.

Best Answer

You can refer to it as the final invoice (accounting): ​

  • the last invoice, usually sent after a project or order is completed, which includes the total amount of money that is still owed: Once the repairs are completed the shop must give a you a final invoice.

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