Dictionary

Quote

A quote" (or quotation) is a document provided by a seller to a potential buyer outlining the estimated costs for a specific set of goods or services. A quote serves as a formal offer to the buyer and, if accepted, can form the basis of a binding contract. It is different from an invoice, which is issued after goods or services have been delivered and serves as a request for payment.

Invoice

Invoices are digital documents that outline the details of a transaction between a buyer and a seller. They typically include information such as the items or services provided, their costs, the total amount due, payment terms, and due dates. Fintech platforms often automate the creation, sending, and tracking of invoices, making the process more efficient and streamlined for both parties.