Best Effects For the Account Financing Now

Whether you’re a confirmed entrepreneur or a young kid out of the box, billing errors, you’ve made some and you’ll make new ones. But some billing errors are repaired and others can actually be very expensive. The article reviews 5 common mistakes and their consequences.

Do not respect the law!

As you already know, writing an invoice must follow a series of rules to comply with the law. This is not meant to bother you but to prevent your bills from being challenged. Among the 5 most common billing errors, you will find the ones relating to the legal notices. These rules apply to all companies, from the company to the micro-enterprise, there is no right pass and not respecting them can be very expensive during a control.

Mentions for invoices addressed to a professional:

  • Date or deadline of payment.
  • Late penalty rate.
  • “Self-liquidation” and clearly indicate that it is a “tax-free amount”.

Mention of the insurance taken out under the activity, the contact details of the insurer or the guarantor, the geographical coverage of the contract or the guarantee.What may be mandatory, when the company is concerned, are the certifications. These indications have a double interest, respect for the law and reassuring the client. The Interstate Capital’s accounts receivable financing is important now.

Send invoices not clear enough!

When it comes to a quote, companies know how to extend explanations because they want to sell their products or services at any price. On the other hand, when it comes to writing your bill, you tend to synthesize titles and descriptions to save time.

  • This is one of the most common billing errors. You may lose precious time in explanations or worse, you risk a challenge of the invoice. If your customer disputes, expect not to be paid right now or at all…
  • Billing software is responsible for calculating the exact amount of VAT and especially allows you to create a library of pre-configured items with a VAT rate applied to each item.

Do not facilitate settlements.

We all agree, a company bills after an action and in order to be paid. The invoice arranges our turnover, the regulation our cash. So why put in the wheels of our rules? The average time to recover an invoice is 35 days and 60 days in some areas.

 

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