What is the SOP of invoicing and collection

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Accepted Answer

The SOP of invoicing and collection involves creating and sending invoices, following up on payments, and resolving any issues that arise.

Invoices should be accurate and include all necessary information such as payment terms and due dates.
Invoices should be sent promptly and followed up on regularly to ensure timely payment.
Any issues with payment should be addressed promptly and professionally to maintain good relationships with customers.
Collection efforts should be consistent and persistent, but also respectful and courteous.
Regular reporting and analysis of invoicing and collection data can help identify areas for improvement.
Examples of invoicing and collection software include QuickBooks, FreshBooks, and Zoho Invoice.

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