Billing and invoicing are two related yet distinct parts of the financial process. Billing is the process of generating an invoice, which is a statement that details what goods or services have been provided by a business and how much they are owed by the customer. Invoicing is the action of sending out this billing statement to inform customers about the amount due and when payment is expected. The main difference between billing and invoicing lies in their purpose. Billing involves recording all charges for goods/services onto an invoice, while invoicing is used to notify customers about due payments. In other words, billing can be thought of as creating an itemized list of services rendered, while invoicing is used to request payment from customers based on that list.