Top 10 Invoicing Best Practices

Nov 10, 2022


Sending invoices to your customers should be a simple process. Just send it and it’s paid, right? Unfortunately, it’s rarely that simple, and in fact, the invoicing process can be a bit strenuous at times. Streamlining your invoicing process in Dynamics GP with Dynamics Report Manager can help alleviate some of the stress of making sure invoices are sent on time. Providing this reliable customer service means you’re more likely to receive payments when you need them. Here are some additional tips to help navigate, and eliminate, the challenges that come with a billing cycle.  

1. Are You Contacting the Right Person?

It’s very rare these days that an employee will stay at the same company, in the same role, until they retire. This can become problematic when you send an invoice, only to find out months later that an individual is no longer your point of contact. Take some time to review the Customer Account, and make sure you have more than one contact, just in case.  

2. Billing Cycle Requirements

Make sure you define your billing cycle requirements and communicate them clearly with your customer. Are these monthly invoices, or annual invoices? Additionally, generating invoices early will give the customer plenty of time to review and pay. If you’re a Dynamics GP user, Dynamics Report Manager can automate this process for you.  

3. Check for Accuracy

Take a moment to double check your invoices before you send them off. Make sure that the quantity and the products or services you are billing for are correct.  Nobody wants to call the customer informing them of an invoicing error, especially if it results in them owing more or overpaying.  

4. It’s All in the Details

Everyone wants to know what they’re paying for. Have you ever received an invoice that only displays an amount due? Maybe it was a medical bill that made you ponder, “what exactly am I paying for?” Providing detail on the invoice so the customer knows what product or service they are paying for is meaningful and necessary. 

5. Highlight Important Information

Call attention to Due Dates and Amount Due. Make it easy for your customers to know what amount to pay and when it’s due. Highlight or Bold those fields to draw attention to them. 

6. Promote Early Payment

You may want to consider offering discounts if your customer pays early. After all, the quicker you have the money in your account, the better. Of course, on the flip side, if customers are behind on paying those invoices, you may want to consider assessing penalties. 

7. Leverage the Invoice for Marketing

Add promotions, discounts for early payments, or services you may provide that the customer might not know about. Make every touch point count!

8. Provide Payment Options

Who doesn’t like options? Make sure you provide value to your customers by accepting multiple forms of payments such as Credit Cards, Wire Transfers, or PayPal. You may even consider adding an additional convenience; have the customer credit card on file (PCI complaint of course) and process the invoice automatically, sending the paid invoice with a BIG Thank You to your customer. 

9. Track It

Ever get a call from a customer wanting to know their account balance? Wonder how many invoices were paid this month vs. last month or even last year? Tracking information so you can quickly find it is crucial to the longevity of a business. Make sure you are utilizing reports, dashboards, or some quick visual cues to identify the health of an Account. 

10. Don’t Forget the Follow Up

Don’t forget to send that email letting your customer know you value their business. For larger invoices, a phone call is even better! Or to put that cherry on top, send a small gift at the end of the year to your MVC’s (most valued customers). 

Dynamics Report Manager is the Invoicing Solution for Dynamics GP 

Have you ever wanted to take all the invoices you’ve had in sales order processing and simply email those to your customers, rather than print them? Dynamics Report Manager is the solution for you. DRM will capture the invoice information from Dynamics GP as well as the customer’s email address that you have set up on the customer maintenance window and send them for you.  

Additionally with DRM, you can set up a scheduled launch. You can select multiple invoices and then schedule when you want them to be generated. You then have the option to send them to email, or to a printer. The frequency of your launches can be set up as monthly, daily, even hourly. With DRM, you get these reports as often as you need them.  

If you want to streamline your invoicing process, reach out today! We would love to give you a free demo of our incredible Dynamics GP add-on product, Dynamics Report Manager. 

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