ITEMIZED BILLING Meaning and
Definition
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Itemized billing refers to a detailed breakdown of charges or expenses incurred by a customer or client for goods or services provided by a company or individual. It is a systematic and comprehensive breakdown of the various components that contribute to the overall cost or fee for a particular product or service.
An itemized bill typically includes specific details such as the name and/or description of each item or service, the quantity or duration, unit price or rate, and the total amount for each itemized entry. The purpose of itemized billing is to provide transparency and clarity to the customer regarding the specific charges incurred, enabling them to better understand and verify the charges on the bill.
Itemized billing is commonly used in various industries and sectors, such as telecommunications, utilities, medical services, legal services, and retail. It allows customers to review and assess the legitimacy and accuracy of the charges and helps them in potential dispute resolution if there are any discrepancies.
From a business perspective, itemized billing serves as a method to provide a detailed breakdown of expenses or charges incurred during a transaction, facilitating accurate record-keeping and financial management. It enables businesses to track and analyze their revenue streams, identify areas of profitability or loss, and make informed decisions based on the data provided by itemized billing.
Overall, itemized billing plays a crucial role in ensuring transparency, accountability, and effective communication between service providers and consumers, promoting financial clarity and trust in the business-consumer relationship.
Common Misspellings for ITEMIZED BILLING
- utemized billing
- jtemized billing
- ktemized billing
- otemized billing
- 9temized billing
- 8temized billing
- iremized billing
- ifemized billing
- igemized billing
- iyemized billing
- i6emized billing
- i5emized billing
- itwmized billing
- itsmized billing
- itdmized billing
- itrmized billing
- it4mized billing
- it3mized billing
- itenized billing
- itekized billing
Etymology of ITEMIZED BILLING
The etymology of the word "itemized billing" can be broken down as follows:
1. Itemized: The word "itemized" is derived from the noun "item", which originated from the Latin word "item" meaning "also" or "likewise". It entered the English language in the late 16th century and initially referred to an article in a list or inventory.
2. Billing: The noun "billing" comes from the verb "bill" which originated from the Late Latin word "billa" meaning "a written authorization or a list". In the 17th century, "bill" was used to refer to a formal written document listing charges or fees.
Therefore, "itemized billing" refers to a detailed breakdown or list of charges or fees, often provided in a document format.
