Invoice Processing Problems and Solutions

Erroneous Invoices❖ Many businesses keep sending invoices that have got small little errors

that make a big difference to the overall invoicing process.

❖ Some times the number of hours added to the project bill are inaccurate and the whole bill amount goes for a toss.

❖ Having an online invoice software that automatically gives you a calculation of the bill amount and provides a detailed structure of entering all the details, helps in avoiding all such problems.

Unprofessional Invoicing❖ Most business owners are too busy in providing and improving their core

offering and often forget to take the invoicing process, too seriously. Sending out invoices in a word doc or an excel sheet without important details like company address, terms and conditions etc. makes the invoice look seriously unprofessional.

❖ Choosing an invoicing solution that provides a professional invoice template with an option to add your company address and logo is essential. Adding an invoice number to this template, every time an invoice is being sent out is very important too.

Invoice Management Issues❖ You may have a large number of invoices that need to be sent and

managing these has become a big problem. The first thing to do is to get rid of any form of paper based invoicing. This not only costs more money and resources but also hampers the productivity of the system.

❖ An online invoicing solution helps in providing access from anytime anywhere, for tracking all the sent invoices with ease. A solution like this provides a single dashboard to track the status of each and every invoice and take necessary action.

Slow Invoice Processing❖ Many invoices fail to reach the client on time and so the payments get

delayed as well. A mechanism should be created for e-mailing invoices to each client on time. A suitable invoicing solution also provides the feature of scheduling the invoices so that they can be sent on time.

❖ Another useful feature that helps in expediting payments is to provide online payment option on the invoice itself. Once the client receives the invoice in his inbox he should get the payment option on the invoice so he can make instant payment through a payment gateway of his choice. This makes it simpler for the client to pay up and ensure that the payment is not delayed.

Delayed Payments❖ Another very common problem that businesses face is delayed payments.

Using features like automatic payment reminders and late fee help in ensuring that the client pays up on time.

❖ A late fee helps is a fixed amount or a percentage of the bill amount added to the invoice once it gets overdue. Penalizing a late paying client helps in reducing the occurrences of late payment. Similarly automatic payment reminders are a useful way to save time that is otherwise spent on following up for payments.

Choose The Right Online Invoice SoftwareInvoicera provides bespoke online invoicing solutions for small and large enterprises. Large businesses looking to make their business invoicing process more productive must choose Invoicera. Invoicera helps with self hosted solutions as well and helps with CRM, ERP and other similar large integration projects that help in completely automating the invoicing and payments process.

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