Invoicing explained
Invoice vs Estimate
An estimate is a non-binding projection of what a job will cost, sent before the work. An invoice is a formal request for payment, sent after the work is delivered. The estimate helps a client decide; the invoice asks them to pay.
What is invoice?
An invoice is a legal request for payment. It lists the work delivered, the amounts owed, a unique invoice number, the date, and payment terms. It records a completed sale and is what the client pays against.
What is estimate?
An estimate (or quote) is an approximation of cost sent before any work happens. It's not a demand for payment and isn't legally binding — it's there to set expectations and win the job. Once the work is agreed and done, you convert it into an invoice.
Invoice vs Estimate: the key differences
Here's how invoice and estimate differ at a glance:
- Timing — estimate comes before the work; invoice comes after.
- Purpose — estimate helps the client decide; invoice requests payment.
- Binding — an estimate is a projection; an invoice records an amount legally owed.
- Numbering — invoices carry a unique invoice number for your records and tax.
How this works in Invco
No. Invco is for invoices only and doesn't create estimates or quotes. Once a job is agreed and done, you create the invoice in Invco, numbered sequentially for that company, and email it as a PDF from your own address.
Invco is invoicing software for people who run more than one company. Design your own invoice template or upload your existing invoice PDF, add line items with per-line tax and discounts, and Invco calculates the totals, numbers each invoice sequentially and emails it as a branded PDF from your own address. Every invoice is tracked from draft to sent to paid, and overdue ones are flagged automatically. Plans from $10/month.
More invoicing comparisons
- Invoice vs ReceiptAn invoice requests payment for goods or services; a receipt confirms that payment has been made.
- Invoice vs QuoteA quote is a fixed price offered before the work; an invoice is the bill sent after it.
- Net 30 vs Due on ReceiptNet 30 gives the client 30 days to pay from the invoice date; due on receipt asks for payment immediately.
- Proforma Invoice vs InvoiceA proforma invoice is a preliminary invoice that sets out the expected cost before delivery; a final invoice is the formal request for payment after delivery.
Frequently asked questions
What is the difference between invoice and estimate?
An estimate is a non-binding projection of what a job will cost, sent before the work. An invoice is a formal request for payment, sent after the work is delivered. The estimate helps a client decide; the invoice asks them to pay.
Can I send estimates in Invco?
No. Invco is for invoices only and doesn't create estimates or quotes. Once a job is agreed and done, you create the invoice in Invco, numbered sequentially for that company, and email it as a PDF from your own address.
How much does Invco cost?
Starter is $10/month for 1 company, Growth is $20/month for up to 3 companies, Pro is $30/month for up to 8 companies, Scale is $50/month for up to 20 companies, and Unlimited is $100/month with no cap. Every plan includes every feature, with no per-invoice fees, and you get a full refund if you cancel within 7 days of a charge.
Invoice the easy way with Invco
Design your invoice template, send branded PDFs from your own email address, and see what's paid and overdue for every company. Plans from $10/month, with a full refund within 7 days.
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