Category: Invoicing
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What is Accounts Receivable Management and Why Does it Matter?
If you own or operate a business, it’s essential to understand core accounting principles and how they can help you better manage your enterprise’s finances. One of the most critical elements in any business is accounts receivable (AR). Accounts receivable describes money that your business is owed from its customers or clients. Correctly managing your…
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How to Write an Invoice: A Complete Step-by-Step Guide
As a business owner, you may have wondered how to write an invoice. Creating invoices is a critical element of running many types of businesses. Of course, it may not be a particularly glamorous element of business ownership, but it’s important each and every business owner is at least familiar with how to make an…
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What is Accounts Receivable? The Complete Guide
Accounts receivable (AR) is a key principle that must be fully understood by business owners. It plays an integral role in the financial health of your business. In this guide, we take a closer look at accounts receivable, accounts payable, and a wide variety of related topics. By the end, you’ll be well educated on…
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26 Different Types of Invoices: The Complete List
An invoice is a crucial document for nearly every business. Slightly different than a bill, an invoice is a legal document describing the goods or services rendered, as well as how much the client owes for such. Generally, not a single day of business operations will go by without invoice processing. That said, there are…
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What Is a Purchase Order? Everything You Need to Know
When it comes to business operations, the creation of purchase orders isn’t usually a business owner’s favorite. However, tracking inventory and buying supplies are critical to business success, which means purchase orders are critical to business success. Relying on purchase orders for the ordering of supplies helps you avoid errors that may occur when you…
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Purchase Order vs Invoice: Understanding the Key Differences
Purchase orders and invoices might seem similar, but they are two vastly different documents with separate uses. A purchase order is used by a person who sells, and an invoice is used by a customer requesting a payment. What is the Difference Between a Purchase Order and an Invoice? Both financially important instruments, a purchase…
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Invoice Reconciliation: How to Reconcile Invoices
Before we discuss how to reconcile invoices, it’s important to have a clear understanding of what invoice reconciliation is. So, what is billing reconciliation? And what is invoice reconciliation? Let’s dive in. What is Invoice Reconciliation? Invoice reconciliation and billing reconciliation refer to two sides of the same process. Before we continue, check out this article…
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Invoice Payment Terms: Definition, Examples, and How to Use them
There are a handful of invoice payment terms to familiarize yourself with when starting a business. Understanding them will limit confusion with customers and contractors. This article will give you an overview of different terms including net 30 payments, upfront payments, payment in advance, and cash on delivery. What are Payment Terms on an Invoice?…
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Progress Billing: How to Implement Progress Invoicing
As a small business owner involved with several time-sensitive projects, you’re probably concerned about having enough cash flow to cover your overhead costs. Progress invoicing allows you to get the job done. To implement progress payments through online invoicing, there are some things you should be aware of. What is Progress Billing? Progress billing is…
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What is Invoice Processing? Definition, Steps, & Flowchart
Invoice processing is a time-consuming but necessary procedure to keep track of your business’s billing records. Many businesses have already streamlined their processess with digital invoices. Digital invoices save time by eliminating manual data entry and printing. This improves efficiency and accuracy. In this article we’ll cover what invoice processing is, how it works, and…