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Invoices act as records for your business. The purpose of an invoice is to stay organized and knowledgeable about which customers owe you. And, you know when payments are overdue. An invoice is also a record for the person receiving them (however, there is a marked difference between invoice and receipt).

Here are the steps for invoice processing:Capture, general ledger (GL) code, and match supporting documents such as a purchase order and/or delivery receipt.Send invoices to authorized approvers to approve or reject invoices.Authorize and submit invoices for payment in a financial system.More items...

How to Approve Invoices For PaymentCheck the Invoice for Accuracy.Cross-Reference Invoice Dates.Confirm the Work with the Project Manager.Check the Vendor Details.Record the Invoice Due Date.Schedule a Payment.Streamline Decision Making.Save Money.More items...?Mar 28, 2019

How to create an invoice: step-by-stepMake your invoice look professional. The first step is to put your invoice together.Clearly mark your invoice.Add company name and information.Write a description of the goods or services you're charging for.Don't forget the dates.Add up the money owed.Mention payment terms.Aug 13, 2020

A sales invoice is a document that a business sends to a client to request payment for their products or services. A sales invoice includes a description of the product or service sold, the quantity and the price. Sales invoices serve as an official record of a sale for both the buyer and the seller.

The best ways to send an invoice are by texting your customer or emailing them. Email is the standard for invoices. But you can actually get better open and response rates by texting your customers a link to pay their invoice. Before you send an invoice you'll want to determine your customer's preference for messaging.

An invoice approval includes reviewing and approving invoices before the payment is processed against them. Usually, the invoice approval process starts when the company receives a supplier invoice, which is then checked by the person in the organization who is responsible for buying that particular product or service.