However, these manual invoice creation methods may become challenging as the business grows, and dedicated invoicing software can help to streamline the entire process. Other businesses use invoice templates available online. Many businesses use a document creation app like Microsoft Word or a spreadsheet to make invoices from scratch or from a limited set of pre-installed templates. There are several ways to create an invoice. It’s important to understand how invoices work the importance of invoices and ensure every element is captured accurately. On the other hand, inaccurate invoices tend to confuse your customers, lowering their interest in doing business with you, and cause payment delays-ultimately affecting your cash flow. It reflects your professionalism and works as brand equity, helping you retain more customers. A clear and accurate invoice goes a long way in sustaining your business as a successful entity. According to a report from Credit Research Foundation, on average, 61% of late payments are due to administrative problems such as incorrect invoices.
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