In the world of business transactions, it is crucial to have a clear understanding of key terms related to financial documentation. Two terms that often cause confusion are "invoice" and "quote." Although they may seem similar at first glance, they serve distinct purposes and play different roles in the business process. This article will delve into the definitions of both an invoice and a quote, explore their respective roles in business, discuss the essential elements of each document, outline the process from quote to invoice, and touch on the legal implications associated with these documents.