Vocabulary11 words · B1–B2

TOEIC vocabulary: finance & accounting

Invoices, budgets, payments, expenses — the financial vocabulary most tested on the TOEIC.

Term	Definition	Example
invoice	a document requesting payment	We sent the invoice last week.
budget	a plan of how money will be spent	The project went over budget.
expense	money spent on something	Travel expenses are reimbursed monthly.
revenue	income from business activity	Annual revenue grew by 8%.
to reimburse	to pay money back to someone	The company will reimburse your costs.
outstanding (payment)	not yet paid	The invoice is still outstanding.
refund	money returned to a customer	She requested a full refund.
to owe	to have to pay someone	We owe the supplier $2,000.
receipt/rɪˈsiːt/	proof of payment	Keep the receipt for your records.
due	expected to be paid	The balance is due on the 30th.
quote / quotation	an estimate of cost	Can you send us a quote?

invoice
a document requesting payment
We sent the invoice last week.
budget
a plan of how money will be spent
The project went over budget.
expense
money spent on something
Travel expenses are reimbursed monthly.
revenue
income from business activity
Annual revenue grew by 8%.
to reimburse
to pay money back to someone
The company will reimburse your costs.
outstanding (payment)
not yet paid
The invoice is still outstanding.
refund
money returned to a customer
She requested a full refund.
to owe
to have to pay someone
We owe the supplier $2,000.
receipt/rɪˈsiːt/
proof of payment
Keep the receipt for your records.
due
expected to be paid
The balance is due on the 30th.
quote / quotation
an estimate of cost
Can you send us a quote?

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