38. What is the difference between bills and expenses?
What are expenses in Sleek Bill?
An expense is a cash payment you have already made for an invoice.
Example of expenses are: phone bills, gas, credit card charges, meals, office supplies etc.
What is a bill?
A bill is an official document issued by a vendor to a buyer to showcase the products and or services that the buyer purchases.
The items sent by the vendor are supplied on credit, which is why they issue you a bill. You register this bill in your invoicing software and mark it as paid after you pay your vendor.
What is the difference between expense and bill?
The difference between bill and expense is that in Expense you record all the invoices which have been already paid by cash and in Bills we record those invoices which have to be paid.
Also, Bills are usually item based so you enter stock via bills. Expenses are more generic, like phone bills are not even entered as items but as categories that are preset.
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