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In my field of work this is the key. I generate the invoices at the start of the month, so that the client can reconcile with their own data. If they are any disputes it can be highlighted during the month and can be solved as soon as possible. If there is a delay on my end or the clients end, the collections are also delayed. This can reduce the cash inflow and can result in alot of issues.
Yes.But it should be on time and accurate.Invoices need to process and deliver on time and should follow up with the client with the statement of invoices before the due date.This is the key to maximize the inflow of collection and can identify and correct any disputes on time.
For billing it is neseccary to attach all invoices mandatory and releated to claim in billing .in short it is an evidence supporting in the billing
After the Invoice delivery client giving a period for instance one month,those time enough for data analyzing.
In my filed of work, the process of billing & invoiceing will happen at the end of billing cycle every month and on the same day we post invoices to customer with a one month due date for collections. The timely process is indeed a best and proactive approach to increase the revenue of a company.
Yes, Its true invoices generated and delivered to customer can help maximize the inflow in shape of collections with in due period and to identify risk of disputes. But, we need to make sure that, it should be on time.
To generate invoice and send it on time to customer is a regular practice which is doing by all companies.
But as per my experience in the credit control job a good credit controler must give a call to the customer after a day or two that they have recieved the invoices and there is no discrepancy. Once the customer confirm then immediately we should have to drop an email to record that conversation. So later on they cannot refuse or delay our payments. Because that sale has no value if its not collected on time?
For the effecetive and good credit control record keeping is very very important.
Yes, Timely action for Invoice submission and Payments plays major roles in Project Deliverables on time which can avoid lots of Disputes for Delay.
Yes it is true and i agreed as it is an evidence in case of dispute arises.
