Differences Between Orders & Invoices

Both orders and invoices record the details of an accounts receivable transaction in Impexium. Every invoice has an associated order, and the term "open order" refers to an order that has not yet been invoiced. While they display similar information, open orders and invoice records each have certain unique properties. The table below outlines these unique features.

See also, Understanding the Transaction Cycle.

Action Type	Open Orders	Invoices
Are GL entries created?	No	Yes
Is the customer committed to pay?	No A proforma invoice is created, but the customer is not committed to complete the purchase.	Yes Customer is committed to pay/complete the purchase.
Receivable created on balance sheet?	No	Yes
Line items editable?	Yes Line item amounts on an open order can be changed.	No Line item amounts on an open order cannot be changed.
Mass void possible?	Yes	No Invoices must be canceled individually.
Discount codes applicable?	Yes Discount codes can be applied to an open order even after the order has been created.	No Discount codes cannot be applied to an invoice.
Can a payment installment schedule be applied?	Yes	No