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What is the difference between a budget and a proforma invoice?

In terms of format there is no difference beyond the fact that the concept of “Budget” or “Proforma Invoice” must be clear and relevant.

The pro form invoice has greater legal validity, though it is not tangible until both parties have signed it, which is the case for any private contract. Neither of the two options have accounting implications nor do they represent any sort of payment obligation.

Unlike the budget, the proforma invoice allows the justification of expenses or investments if we are to ask for credit or subsidies since it implies that the future invoice issued will have the same value of the proforma invoice.

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