Tips To Avoid Missing Invoices

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How To Avoid Missing Invoices
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Introduction

• Many a times the accounts payable department in
  companies gets frustrated because of missing or
  lost invoices. The vendor seems to have sent the
  invoice, but the invoice has not reached the
  client payment department or has gone missing
  completely.
• This creates problems at the time of payment of
  the invoice.
• Here are some steps that need to be taken to
  avoid missing/lost invoices.

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Find The Reason For Missing Invoices

• There are a few vendors from which the invoices
  usually go missing, on a continuous basis. Such
  vendors must be recognized and action must be
  taken to ensure that the invoices from these
  vendors are not getting lost every time.
• If the process for sending of invoices is not
  being followed by these vendors then they must be
  asked to follow the process.
• The purchase department must have the complete
  accountability of the invoices and the process
  and must ensure that each and every invoice is in
  order.

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Every small business must choose a cloud based
invoicing and time tracking solution like
Invoicera for avoiding missing/lost/unpaid
invoices.
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Have A Purchase Policy

• A purchase policy helps you ensure that there are
  minimum chances of an invoice going missing. The
  policy has to be adhered to by both, internal
  teams and vendors.
• Purchase orders must be sent out for all
  purchases
• It must also be ensured that the vendor is
  putting in the correct purchase order number - on
  each and every invoice
• Invoices that do-not carry the purchase order
  number must not be accepted

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Receive Invoices Online

• Using an accounts payable management solution
  like Invoicera helps in receiving payments
  online. This helps in ensuring that all invoices
  are received, and that too on time.
• The chances of missing invoices are the least, in
  case of online invoicing
• A separate inbox must be maintained for receiving
  invoices online
• This helps in finding the invoices with ease

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Create A System of Verification and Tracking

• An invoice verification and tracking system
  ensures that each purchase has a valid invoice,
  that is received in the correct format.
• This system ensures that there are no invoices
  that are missing or lost.

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Recurring Invoicing

• Using an online invoicing tool helps vendors to
  set up recurring invoices. These invoices are
  sent automatically to the client on a periodic
  basis.
• These type of invoices minimize the chances of
  the invoice being lost
• These invoices reach the client mail-box in a
  timely manner

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Invoice Reminders

• Another useful feature that vendors can used for
  on-time delivery of invoices include invoice
  reminders.
• This feature ensures that the client is reminded
  about the invoice periodically and there are no
  chances of it getting lost
• The feature also ensures timely processing and
  payment of invoices

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Thank You