Furthermore, your business will become better organized: with online invoice tracking, you will know exactly which invoices have been already sent, which are to be sent next, and which ones are already paid. You can keep tabs on all of your business cash flow, expenses and profit _ at any time, day or night! Draft the invoice as soon as the order is received, and then all you have to do is send it when the bill is due. Done!
An additional benefit of the solution is that IMS reduces the possibility of duplicates being paid, the system includes validation that picks up possible duplicates and alerts the AP team. This will reduce the estimated Â£80ꯠ per year that was previously being spent on duplicate invoices. Summary of key benefits : Increased control _ Increased efficiency _ Reduction in AP headcount by 4 people _ Elimination of manual data entry _ Reduction in lost invoices _ Elimination of duplicate invoices _ Reduction in time spent locating and chasing invoices.
About proforma invoice _ A Proforma invoice is an invoice provided by a supplier in advance of providing the goods or service. A quotation in the form of an invoice prepared by the seller that details items which would appear on a commercial invoice if an order results. It is more of a customs declaration form used in international trade that describes the parties involved in the shipping transaction, the goods being transported, and the value of the goods. It is the primary document to declare value for customs. It is not a true invoice, because the seller does not record a pro forma invoice as an accounts receivable and the buyer does not record a pro forma invoice as an accounts payable.