From Wikipedia, the free encyclopedia Bill (payment)
Bill (payment)
A bill or invoice is a document requesting payment for an in the amount payable, commits a criminal offence under
order previously supplied. Presentation of a bill is com- the Theft Act 1978.
mon practice on the part of credit card companies, utili- In the United States, a person who does not pay a bill
ties, and other service providers. The bill for something is cannot be held criminally liable. Debt is strictly a civil
the total price of all services and goods received but not matter, and the creditor is limited to taking civil action
paid for, and is presented in the expectation of immedi- against the debtor.
ate payment by the due date. Common reasons for failure to pay a bill on time or
In countries where wire transfer is the preferred at all include disorganization, forgetfulness, health prob-
method of settling debts the printed bill will contain the lems that leave the customer out of commission to make
bank account number of the debtor and usually a refer- payment, dispute of the charges on the bill, or difficulty
ence code identifying the payer. in affording the bill.
When a bill is paid for, as a part of the transaction, the
company will usually provide a bill confirmation.
See also
• Invoice
Unpaid bills • Receipt
If a bill is not paid on time, various sanctions against the • Arrears
debtor may be taken, including late fees being added to • Grace period
the bill, negative credit reporting, suspension of the ser- • Late fee
vices being provided, employment of a collection agency • Turn-off notice
to collect the amount due, or in the most extreme cases, • Debt evasion
legal action. The total amount of the bill is usually called
the balance due.
Under English law, a person who makes off without
References
paying the bill, or who dishonestly secures a remission
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Categories:
• Accounting source documents
• Personal finance
• Accounting stubs
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