How to create 99% error-free invoices?

A small sheet of paper is your entire bread and butter. 

And you really do not want to mess up with what is helping you sustain. Invoicing is as simply explained like this. This sheet of paper is the reward you seek after completing any project. Therefore, the chances of messing up should be negative. 

But, defying the importance of accuracy in invoices, organizations tend to commit mistakes due to many reasonable and unreasonable factors. 

A lot of factors contribute to increasing errors in the invoices such as non-addition of billable amounts, improper customers’ address, unclear records of the services or products provided, or forgetting to include a discount, offers, or late fee charges. While you certainly do not intend to commit such mistakes, which is the best way you can create error-free invoices?

The foundation of every accurate invoice starts with using the right methodology to create it. How? Foremost, invest in an automated custom billing software.  Such custom invoicing software that works with AI and incredible UI/UX guide you towards creating error-free documents, automated approvals, automation of process management, and streamlining workflow. 

You must be wondering the reason to initiate invoice management with automated custom software. Here are the few findings that will put all wonderings at rest:

• An average dropdown of 91% in invoice processing costs with automation. 
• Billing process with invoice approval software will be 46% faster. 
• Automated payment reminders will help you drop delays by 12%. 
• Automated Staff management helps staff respond 30% quicker. 

To get such advantages, all you have to do is to feed the custom billing workflow software with the necessary details like customers’ addresses, previous transaction records, usage details, and the like used in preparing invoices.

Moreover, for your better understanding, here’s how you can create a perfect and 99% error-free invoice in minutes: 

1. Inputs from the Entire Project Team

To create a completely error-free invoice is a conscious job. The undeniable importance of including every item holds the key. 

Include every minute detail in the project that a project consumed as resources. Time spent, money invested, and other variables invested by the team in completion of a project are necessary inputs required for a project. 

To make the job less tiresome, an invoice approval software allows team members to approve invoices and verify no billable hours are missed. Post the approvals, such invoices are automatically sent to the customers.  

Such efficient invoice approval system ensures a better ROI as a reward with accuracy.

2. Decreased Burden Increases Productivity of Accounts Team

Post setting up an electronic invoice approval process, your accountant would not have to follow up with every employee rigorously for invoice approval. A simple login into the system will notify employees of their pending approvals and real-time update accountants about every edit.  

Saving a great deal of time and efforts, it makes your accountant a little less burdened and helps increase focus in multi-activities. It helps accountants get rid of creating drafts, waiting for approvals on the same document after running employees, accepting changes, and creating the final invoice. Therefore, saving a lot of time. 

3. Precise Transactional Details to Avoid Overwriting

The free invoice approval software does not only helps in setting up invoice approval workflow but it also keeps a track of all the invoice and transactions history such as pending payments, packages used, products consumed, and more to help organizations stay aware of their past transactions. 

Such proactiveness leaves no space for confusions and conflicts between you and your clients. 

4. Do not Miss Late Fees or Discounts 

Manual invoicing, many times, lead to skipping of adding late fees or discounts in the invoices, leading to further back and forth of invoices. It displays unprofessionalism as an image that you would never want to portray. 

Whereas, invoicing with an invoice approval software is automated. Thereby, popping up every single item that needs to be included in the invoice. So as to create final drafts in one single go and leave your clients mesmerized with your professionalism every single time.

 5. Automate Recurring Invoices to Stay Precisely In-Time 

Different companies follow different approaches for following a billing process. Some bill post project completion, others invoice at the end of every chapter, and some create recurring bills for clients based on subscription. 

Delay in invoicing can leave a very negative impact on your clients and convey silent messages changing mindsets. 

|Read about: what your invoicing behaviour tells about you|

Automated billing software for recurring invoices works efficiently in creating recurring invoices seamlessly with zero errors and in-time to be delivered at set dates. 

Sum up:

A clear understanding of how an electronic invoice approval process works can help you in creating flawless invoices in minutes. Helping your business grow with AI is my only intended goal through my blogs. 

This time I included the importance of invoice approval systems into the organization to enhance processes with automation. 

In a nutshell, a custom invoice approval system tabs project hours, billable products/services, invoicing approvals, transactional details, and more to streamline the entire invoicing process for an organization. 

Investing in a custom invoice approval workflow software is a calculated progressive decision as it will save you extra hours, money, and efforts which can be invested in tasks more productive.