CHAPTER7Invoicing
Ensuring that payment occurs is critical for organizations. Now that items have been ordered, shipped, or delivered in some fashion, it is critical for the enterprise to make sure that it requests payments; this is often done through invoices. It is important to send out correct invoices that correspond to the appropriate orders, shipments, or work efforts. The enterprise needs to set up systems that facilitate getting paid, and this could involve setting up appropriate billing accounts; matching invoices to orders, billing for shipments, invoicing for work efforts; sending out invoices; tracking payments against invoices; recording deposits, and issuing statements.
Questions that enterprises need to know about invoicing include the following:
- How does each invoice relate to orders, shipments, and/or work efforts?
- What are the products, features, and other charges for which payments are due?
- Who owes how much to whom?
- What is the status of each invoice?
- What is the payment history of each party?
Models discussed in this chapter are as follows:
- Invoice and invoice items (alternate model also provided)
- Invoice roles
- Invoice billing account
- Invoice specific roles
- Invoice status and terms
- Billing for shipment items
- Invoicing of work efforts and time entries
- Billing for order items
- Invoice payments (alternate model also provided)
- Financial accounts, withdrawals, and deposits
Invoices and Invoice Items
Invoices, like shipments and orders, may have many items showing ...
