Overcoming Some of the Most Common Invoicing Problems

Invoices are an important part of business, but what happens when the process goes wrong and problems begin to appear? Let's take a look at some of the most common problems and examine how technology can overcome them.

Data Fields Are Incomplete

If data is incomplete, this can cause a problem. While at first glance it may appear that the invoice document has been properly filled out, the hidden error might not be discovered until later, by which time it may be difficult and time-consuming to retrieve the data.

When missing and incomplete data is a regular occurrence, this rapidly becomes a major headache for your business. This is why great care should be taken to ensure that invoices are filled out in the proper way.

Overcoming this Problem

Handle invoices digitally. Make sure that invoices are created using software with built-in automation to prevent the author of the document from skipping any crucial data fields. These automated barriers ensure that documents are complete every time.

Documents Go Missing 

Sometimes it's not just data fields that are left incomplete — sometimes entire documents go missing. If invoices are not where they should be, this can be seriously problematic. It could result in projects not being paid for, problems with tax and compliance, or even disputes of over work.

Archiving and storing your invoices is crucial for your business and is not something you can leave to chance. Don't let one missing invoice bring your entire set of records down.

Overcoming this Problem

Automation is the answer — taking the process out of human hands and achieving a watertight invoicing protocol. Software can create invoices automatically, using data drawn directly from timesheets, ensuring that no document and no information within those documents are missed. These digital files can then be stored in secure cloud structures and backed up to prevent lost documentation.

Unclear Purposes

An invoice might turn up that no one has any recollection of. While having an extra piece of paperwork is marginally better than a missing document, it's still confusing and suggests that there has been a mistake or discrepancy somewhere along the way.

Businesses need to make sure that all of their invoices include contact information and reference numbers so that any uncertainty can be cleared up. It is also advisable to make sure that each invoice is attached to a specific case or project, eliminating confusion further down the line.

Overcoming this Problem

If you want to make sure that invoices have the proper contact information, project reference numbers, and job name data attached to them, make these required fields during document creation. Solutions such as Alloc8 support this function, ensuring that all the information required to assess the status of the document and identify its purposes are included. 

Storage is also an important factor. A copy of each invoice document needs to be stored along with other files and documents relating to this project so that auditors and other personnel can immediately make the connection and ascertain what the invoice is for.

One-off and Recurring Errors

Data input is a difficult task and is prone to errors. This is because the human brain is not well suited to repetitive tasks like this and finds it easy to lose track, resulting in one-off errors.

If these errors are saved into the system's auto-filled responses, the one-off error becomes a recurring error.

Overcoming this Problem

Make sure data input tasks are handled automatically by computer software. The Alloc8 software, for example, can draw upon data directly from the project documentation itself, crafting an invoice with no manual input and, crucially, no mistakes. 

Get to Know More About How Alloc8 Can Overhaul Your Invoicing

Schedule your free demo of the Alloc8 solution today.