Billing – Definition & Meaning

Billing is a term that is commonly used in the business world. It refers to the process of generating invoices or bills for goods or services that have been provided to a customer. Billing is an essential part of any business as it helps in keeping track of the financial transactions and ensures that the company is paid for the services rendered.

Definitions

Billing can be defined as the process of creating and sending invoices or bills to customers for the goods or services that they have received. It involves calculating the total amount due, including any taxes or fees, and providing a detailed breakdown of the charges.

Origin

The word ‘billing’ is derived from the Old English word ‘byllan,’ which means ‘to bill or to charge.’ The term has been in use since the 14th century and has evolved over time to encompass a broader range of activities related to invoicing and billing.

Meaning in different dictionaries

According to the Oxford English Dictionary, billing means “the preparation of invoices or bills for goods or services provided.” Merriam-Webster defines billing as “the process of preparing and sending out bills for goods or services provided.”

Associations

Billing is closely associated with accounting and finance as it involves the calculation and recording of financial transactions. It is also linked to customer service as it is an essential part of the customer experience and can impact the relationship between the customer and the business.

Synonyms

Some synonyms of billing include invoicing, charging, pricing, and accounting.

Antonyms

There are no direct antonyms of billing, but some related terms that have the opposite meaning include credit, refund, and discount.

The same root words

Some words that share the same root as billing include bill, billed, and billable.

Example Sentences

1. The billing department is responsible for generating invoices and processing payments.
2. We received the billing statement for our monthly subscription.
3. The company has implemented a new billing system to streamline the invoicing process.
4. The customer disputed the billing charges, and the company had to investigate the issue.
5. The billing software has a feature that allows for automatic payment reminders to be sent to customers.