Payment Solutions: Setting Up An Automated Receivable Invoice Service


As the executive of business, you know the ins and outs of accounting and finance, and recognize how important timely payments are to your businesses operations. You may have begun to move your financial processes onto payment solution as part of your transition to digital ecosystem, yet you may still be unsure of how to set up an automated receivable invoicing system. Fear not: This guide outlines the steps you must undertake to get your receivable invoice service up and running swiftly and securely.

1. Choose which payment solution to use. This is key to achieving high-functioning receivable invoicing system. Consider factors such as fees, availability of payment options, customer service and support, and data reporting capabilities.

2. Connect financial accounts to the payment solution. This includes accounts such as general ledgers, bank accounts, and other associated accounts. Mapping these accounts to the payment solution helps ensure that money is allocated correctly.

3. Establish rules and settings. Set up the rules and parameters of the payment solution to ensure it accounts correctly for budget and tax-related elements.

4. Invite others to join. Invite colleagues and key stakeholders, such as your customers, to join the payment solution.

5. Enable bank-grade security. Implement additional secure layers to protect the payment solution. Integrate processes such as two-factor authentication for extra security.

6. Create your invoices. Design your invoices using the payment solution and integrate them into the payment portal.

Once you?ve taken the above steps to create receivable invoicing system using payment solution, you?ll be all set to manage your payments efficiently and securely. payment solution provides the tools you need to achieve greater financial visibility, improving the accuracy of tracking, visibility and reconciliation both for your internal teams, as well as your customers. With customized payment solution, you can ensure your receivable invoice service is geared to the unique needs of your business and that financial data remains secure. Get started today and unlock the potential of receivable invoicing system!