![]() ![]() But this can vary based on a company’s needs and the agreement with the client or buyer. Generally, the due date is 30 days following the invoice date. The invoice date is a crucial piece of information, as it dictates the payment due date and credit duration. The invoice date indicates the time and date the Supplier officially records the transaction and bills the client. You may choose to set invoice payment terms of up to three months to give your customers the flexibility to manage their cash. Invoices aren’t necessarily due immediately when customers receive them. Using electronic invoicing makes this process simple. Assign invoice numbers sequentially so that the number on each new invoice is higher than the last. This reference number establishes a paper trail of information for you and your customers’ accounting records. Customers may also use the term “bill” to describe a request for payment due to their Supplier.Īn invoice number should be assigned to each invoice you issue.
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