Invoice Processing Explained: Steps & Impact

What is invoice processing? Learn the steps & how to process here: bit.ly/3IpLxbD
Invoice processing includes five steps: Receiving a supplier invoice, approving it, establishing a remittance date, paying the invoice, and then recording it in the general ledger. Each step is critical to running your business successfully, ensuring your suppliers are paid on time, and thus, avoiding delays in receiving services, supplies or raw materials. Furthermore, efficient and accurate invoice processing saves time and money for your accounting team and even helps optimize cash flow.
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