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What you need to know about Account Receivable & Invoice
Billing?
www.bwmillerdean.co.nz
Most companies should know that only accurate and precise billing can guarantee smooth money transaction at all times. Faulty and inaccurate billing may lead to delayed receipt of cash. Also, customers may charge with payment for wrong amounts and other such instances which can lead to disputes.
www.bwmillerdean.co.nz
This is specifically the reason why companies should have a clear invoicing policy. If you need a clear cut service then you should contact a reputed firm.
www.bwmillerdean.co.nz
The business advisory company in Wellington can offer you services which are both reliable and cost effective.
www.bwmillerdean.co.nz
Now, check out some best practices for
Accounts Receivable and Invoice billing:
www.bwmillerdean.co.nz
Clarity of Information:
It is very important that you should give
space for the quantity and price of the goods or services provided.
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Completeness of Information:
Whatever information you provide, it should
complete in all aspects. The sale descriptions need to be complete.
Abbreviations should be avoided on invoices.
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Unambiguous Information:
The Payment terms must be mentioned
clearly in the invoice. Vague payment terms
could mean higher billing enquiries and delayed payments.
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Proper Numbering:
Usually a combination of words and numbers is
the right way to number invoices.
This numbering style is very much helpful to
segregate certain important invoices from
others.
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Continuous Review:
Your invoices must be free from any sort of wrong calculation,
currency issues and grammatical errors.
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Easily Trackable:
Every invoice must have a unique number and the details of the invoice must be captured against this number.
When invoices become easy to track, it becomes simple to revise any changes that need to be made to them.
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Ensure Proper Dispatch:
Postal dispatch of invoices could lead to delays. The best way to dispatch the invoice is through postal mail and email. In this way, the customer won’t miss the invoice.
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Follow Up is the Key:
After the dispatch, the invoice needs to be followed up until it reaches the customer. A proper follow up should be maintained at any cost.
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Using Invoicing Software or Online Invoicing:
If you want to create a good invoice, relevant invoice template is important. You can invest in good invoicing software which can create invoices more efficiently and quickly.
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Invoice as Brand Promotion Tool:
An invoice can be used as a window to display
your brand. You can display your
logo and other details significantly on the
invoice. You can also use invoices to mention
other products and services which you
offer, thus helping you to cross sell.
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Conclusion:
An efficient billing procedure could help in lowering the number of billing disputes. It facilitates quicker receipts of cash from
customers and can reduce the number of bad debts.
BW Miller Dean is a reputed chartered accountant firm. We offer business
advisory services in Wellington which are both reliable as well as trustworthy.
www.bwmillerdean.co.nz
Contact UsAddress: BW Miller
Dean LtdLevel 5, 203-209 Willis
Street, Wellington 6142, New Zealand | PO Box
11-253 Wellington 6142Phone: +64 (0)4 910
3340
www.bwmillerdean.co.nz
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