PROFESSIONAL INVOICE Definition

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PROFESSIONAL INVOICE is an invoice associated with professional services rendered, i.e. medical, legal or accounting services. See SERVICE INVOICE and PRODUCT INVOICE.

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DEDUCTION is the act of deducting; subtraction. It is an amount that is or may be deducted, e.g. tax deductions.

PITI is an acronym for Principal, Interest, Taxes and Insurance when dealing with property mortgages.

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