Sales and Purchase Documents Definition

Sales Quotation

A sales quote is an estimated amount that a person selling something gives to a customer. It is given to show them how much it would cost to have the work done. Many services do not have fixed prices for work. The cost can change depending on the tools, materials and how much work is needed to be done for each customer. The person calculates an estimated amount, and gives this to the customer, so that they can have an idea how much it will cost. - http://simple.wikipedia.org/wiki/Sales_quote

Sales Invoice

An invoice or bill is a commercial document issued by a seller to the buyer, indicating the products, quantities, and agreed prices for products or services the seller has provided the buyer. An invoice indicates the buyer must pay the seller, according to the payment terms. - http://en.wikipedia.org/wiki/Invoice

Sales Receipt

A receipt is a written acknowledgement that a specified article or sum of money has been received as an exchange for goods or services. The receipt acts as the title to the property obtained in the exchange. - http://en.wikipedia.org/wiki/Receipt

Purchase Order

A purchase order (PO) is a commercial document issued by a buyer to a seller, indicating the type, quantities and agreed prices for products or services the seller will provide to the buyer. Sending a PO to a supplier constitutes a legal offer to buy products or services. Acceptance of a PO by a seller usually forms a once-off contract between the buyer and seller so no contract exists until the PO is accepted. POs usually specify terms of payment, incoterms for liability and freight responsibility, and required delivery date. - http://en.wikipedia.org/wiki/Purchase_order

Purchase Invoice

From the point of view of a seller, an invoice is a sales invoice. From the point of view of a buyer, an invoice is a purchase invoice. - http://en.wikipedia.org/wiki/Invoice