Invoice management: is the process of handling and tracking the creation, processing, and payment of invoices within a business or organization.
It involves various tasks such as generating invoices, sending them to customers, recording payments, and reconciling accounts.
Effective invoice helps businesses to streamline their billing and payment processes, reduce errors and delays, improve cash flow management, and maintain accurate financial records.
The use of digital tools and software can greatly simplify the invoices management process by automating tasks and providing real-time tracking and reporting.
It is an important aspect of accounts receivable management, which involves tracking and collecting payments owed to a business by its customers.
It is also closely related to accounts payable management, which involves tracking and paying bills owed by a business to its suppliers and vendors.
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