In Guidewire's BillingCenter, these terms relate to different aspects of billing, each with distinct purposes. Below is an explanation of each concept, along with examples. 1. Billing Invoice - Definition : A Billing Invoice is a formal document issued by the billing system to a customer, detailing the total amount due for one or more billing periods or transactions. It represents the culmination of various charges, payments, and adjustments. - Example : - Suppose a customer has a monthly insurance policy. The Billing Invoice for June might show a total due of $200. This amount could include the base premium, any surcharges, discounts, and previous balance carried forward. - The Billing Invoice might look something like: Invoice #12345 Customer: John Doe Policy Number: ABCD-1234 Invoice D...