An invoice record can be thought of like a business contract. It is an official document that serves as proof of sale and details the purchase made between two parties, typically a buyer and a seller. This record reflects the amount due, payment terms, date, description of goods and services purchased by the buyer from the seller. Invoice records provide protection and accountability for both parties involved in the transaction and also serves to protect their mutual interests. In essence, it is a written agreement between two people or companies and must be kept on file for future reference.