And if you’re using net 30 payment terms with your customers-and you don’t receive automatic confirmations of receipt-then it may be a month or more before you even realize that the invoice is missing. If invoices aren’t getting to their intended recipients, they’re not going to get paid. The good news is that there are steps you can take to reduce invoice errors and instill a high rate of confidence within your customer base. Repeated errors will raise these potential red flags even higher and force your customers to rethink whether they want to do business with you (or not). And when you don’t get paid, you can’t compensate your employees or cover your overhead.Įrrors in the invoicing process can also stir up customer suspicions about your business practices. Get it wrong, and you won’t get paid or you’ll get paid late for your products or services, which really impacts your cash flow. The process also requires accuracy and timeliness. Invoicing is foundational for any company. Your company may do excellent work, have dedicated team members and serve a great group of customers, but if its invoicing function isn’t performing properly, you won’t be in business for long. East, Nordics and Other Regions (opens in new tab)
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