Definition of the word invoice

The word "invoice" derives from the medieval Latin phrase fait terme, which translates to "paid to the full." This phrase was inscribed on documents that served as evidence of payment for goods and services. As trade expanded in the Middle Ages, merchants began creating similar documents known as "bills of lading" and "bills of sale." The modern term "invoice" emerged in the 16th century when merchants in the Netherlands used the Dutch term "inwozen" to describe a bill that listed the goods and the price owed for them. The word "inwozen" combined two elements: "in" meaning "in," as in "in the warehouse," and "woozyn" meaning "loaded," as in "loaded with goods." The Dutch term "inwozen" was adopted by English merchants, who simplified the spelling by dropping the "o" from "woozyn." This new spelling produced the term "inwace," which became "invoice" in British English and "invice" in American English. Today, the term "invoice" is widely used to refer to a document that itemizes goods and services and requires payment from the recipient.