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The exact answer would depend on which specific styles/lineages your talking about. (And there I am not able to provide specific info.) But a general answer would be the difference is the meaning of 'do' versus 'jutsu'. Iaido would be a "way"; practicing for self-betterment being the more primary intent. Iaijutsu would be "martially effective"; practicing ...

Likely the most significant difference you'd see is that Iaido is practiced as a stand-alone art, while Iaijutsu would be one component of a Ryu (school/style) that has a larger scope. It's unlikely you'd find someone who practices Iaijutsu who doesn't also know Kenjutsu, but you could quite likely find someone who practices Iaido who doesn't know Kendo or ...