Another outcome is an increase in efficiency; the AP department can instantly find an invoice without having to waste time chasing the business users. With approximately 70% of the invoices now matching the PO immediately, a considerable amount of invoices only require scanning, after which the process is entirely automated. This efficiency has directly resulted in a reduction in the number of people required in the Accounts Payable department; before the system was installed the team consisted of 13 people and there have been reductions in headcount, as the AP manager substantiates: "The IMS system has increased efficiency in our Accounts Payable department to such an extent that on full implementation we expect to reduce our headcount by 4."
Invoice examples and best practices _ Invoices are just part of the picture that mirrors the company's image and business standing. A successful business will have a good template that has all the details. The important details are of the company, the buyer and the shipment. There should be the logo and contact details of the company on the very top of an invoice. This should be followed by details of the buyer and the destination of the shipment. The details of the shipment should clearly outline what it consists of, the quantities as well as the unit cost of each item. This should be followed by the cost of the purchase, other costs, any tax that has been included and lastly the total cost of the shipment. Your invoice should be prompt, so that you can get paid by your clients on time, while invoicing is not a fun task, it's a necessary one: by keeping clients informed of your expectations, you will get paid punctually and reinforce your professionalism. After going over some best practices for creating invoices, I will review some great (and not so great) invoicing practices, so that you can spend less time creating invoices and more time doing the things you love!
Proforma invoices basically contain much of the same information as the formal quotation, and in many cases can be used in place of one. It should give the buyer as much information about the order as possible so arrangements can be made efficiently. The invoices inform the buyer and the appropriate import government authorities details of the future shipment; changes should not be made without the buyer's consent. As mentioned for the quotation, the points to be included in the proforma are: 1.Seller's name and address 2.Buyer's name and address 3.Buyer's reference 4.Items quoted 5.Prices of items: per unit and extended totals 6.Weights and dimensions of quoted products 7.Discounts, if applicable 8.Terms of sale (include delivery point) 9.Terms of payment 10.Estimated shipping date 11.Validity date