Accounts Receivable Basics II
Source: Finance and Accounting Guru
Nothing can bring greater joy or sorrow to a business than good or bad invoicing habits. Immediate invoicing exhibits good records management and fiscal reliability. Late invoicing does little more than delay payment, hurt the company's financial position, and perhaps even create difficulties for customers who no longer can or want to pay. Any good receivables system will provide proof that all invoices have been correctly posted to the customer ac-counts. This is usually accomplished daily by comparing invoices with the Accounts Receivables (A/R) postings.