Invoice and Billing

Question

Can any please tell the exact difference between Invoice and Billing
Thanks

Answer 1

There is no difference between Billing & invoice much.
Billing Types that represent the different business transactions in billing. SAP has defined various Billing Types e.g. order related billing, delivery related billing, Credit Memo, Debit Memo, Proforma Invoice, Invoice for services rendered, invoice list.
All billing documents are not invoices but invoice is billing document.
Billing document is general term whilst iinvoice refers to specific transaction like credit memo or proforma invoice.
Billing & invoice can be unpaid or paid. e.g. Advance payment billing where you raise invoice for advance payment.
Invoice List contains any tuype of bills together. Its not a single invoice but grouped invoices, credit memo debit memo etc. In SAP you assign Billing Type to Invoice List to group together. e.g. F1 + F2 + G2 +L2= LR
Please be sur ethat you are not confused when asked in interview. Invoice is for both : Vendor Invoice and Customer Invoice.
Both are same in SD point of view.
- In SD terminology we call as Billing Document and
- In FI terminology we call as INVOICE.
- In MM again only INVOICE will be there for Vendors.
Billing Tcodes:
-  VF01 create billing document. The delivery order comes up auto.
-  VF02 the billing doc comes up auto . View the accounting enteries
Invoice Tcodes:
-  FB60 Create invoice with respect to rawmaterial and tax.
-  FB70 Invoice entries with respect to sales and tax
Billing = Accounts Payable = Goods/Services Received from Suppliers.
Invoicing = Accounts Receivable = Goods/Services Delivered to Customers.