Generating invoices for items sold, tracking the dues to be collected or to be paid, followed by payments or collection of dues are crucial to help run healthy business and earn higher revenues.
A manual account maintenance has the risk of errors, delays and ineffective communication ending up in irreparable loss in business.
However, an integrated ERP/ business tools with automated reminders, reconciliation, and settlement facilities in Hylobiz distributed ledger platform can give easy generating, tracking, and managing invoices and their payments to experience automated and support seamless communication.
What is an invoice?
To be precise, invoice is a record of goods or services made by the businesses that lists date, customer’s name, item’s name, quantity, price, and terms of sale. A typical invoice includes discounts offered, taxes, the amount due and due date.
Why is it important to generate an invoice?
To list goods, analyze data, legal protection,track payments and dues
Invoice payment lifecycle
· Invoices for items
· Accounts payable and receivable
· Communicate
· Payment to be authorized
· Payment done
· Acknowledge
· Track
· Process continues
Did you know Invoice payment lifecycle can get automated with Hylobiz and can boost your business?
· Link hylobiz with your accounting platform
· Create or Upload and send invoices
· add items in your invoice
· track receivables, payables, understand the business health, help retrieve and pay the dues on time
· automated reminders
· online payment
· manage business payment and transactions
· Customized checkout
· customise the transactional charges
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Read the full blog here, originally published on: https://hylo.biz/get-invoice-payment-lifecycle-automated-with-hylobiz/
