An invoice is a short document with a lot of small decisions in it: the number, the due date, the terms, what happens when it is paid late.
Here you'll find plain explanations of payment terms, invoice numbering, credit memos and debit notes, late fees and reminders, plus the receivables reports that show who owes you what and for how long.
11 articles
Calculating interest on late payments takes an overdue amount, an annual rate and a count of days late. Here is each step, with four worked examples and invoice wording.
11 min read
The meaning of a pro forma invoice is a preliminary bill sent before goods ship or work is done. See a filled-in example and how it differs from a quote and a final invoice.
10 min read
Payable upon receipt means the invoice is due as soon as the customer receives it. Here is how buyers treat the term, when it fits and how to word it.
10 min read
The payment term net 45 makes an invoice due in full 45 days after the invoice date. Here is how to count it, who asks for it and what the wait costs.
10 min read
An invoice terms and conditions sample you can adapt, clause by clause, with a line on what each one does and what an invoice can't add to a contract.
11 min read
An accounts receivable aging report groups unpaid invoices by age. See the standard buckets, a complete example with totals and percentages, and how to read it.
10 min read
A credit memo example with every field filled in, plus when to issue one, how the credit is applied, the basic journal entry and how it differs from a refund or a debit note.
10 min read
A past due invoice is one that is still unpaid after its due date. Here is a follow-up sequence by days overdue, what each message should contain, and the options if nothing works.
10 min read
Late fees on invoices are either a flat charge or interest on the overdue balance. Here is how to calculate each, with worked examples and sample wording.
10 min read
A net 30 invoice must be paid in full within 30 days of the invoice date. Here is how to count the due date, word the invoice and price a 2/10 discount.
9 min read
Invoice payment terms say when a customer must pay and what changes if they pay early or late. Here is what each common term means and how to pick one.
10 min read
