Invoice processing deals with invoices coming into or out of the business. For incoming invoices we match these against purchase orders (where there is one) or other records of a purchase being made. Where there is no record of a purchase we will check with you before processing further, to make sure it's a valid invoice and the amount is correct. Once this is established the invoice is booked in our (or your) system against the appropriate category (type of expense), and we then either include it in a list of payments which need to be made, or set up the payment directly on your bank account.
For outgoing invoices we book the invoice into the bookkeeping/accounts system and then either send it out to the customer, or monitor payments to ensure it's paid.
We will receive all invoices for you and enter them into the books ready for bank reconciliation and reporting. We can set up categories of expense so you can track expenditure effectively.
We can also either issue invoices to customers on your instruction, or receive copies of issued invoices for tracking payments. Once we receive a customer invoice we will enter it into the books ready for bank reconciliation and payments tracking. We can combine this with credit control to monitor and where necessary chase payments, setting appropriate credit limits for customers to ensure you are not exposed to unnecessary risks.
If we're working remotely, you'll need to ask suppliers to send invoices direct to us and where you issue purchase orders, make sure we receive a copy. We keep records electronically so we can securely share all documents with you. Once we've matched invoices against purchase orders, or confirmed with you that it's a valid invoice, we enter it into the books ready for bank reconciliation and payments tracking including supplier payments due.
For outgoing invoices to customers we can either generate and send these for you or enter and track invoices sent once we have details of an invoice you've sent out.