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AvidXchange’s supplier portal helps Doron Contracting save time and more easily reconcile invoices. Lena Doron co-owns Doron Contracting with her husband, Guy Doron, overseeing the administrative work for the business, including accounts and receivables. It helps me save time when I reconcile my accounts each month.”
In 2023, I’m getting paid for services rendered in 2020 and 2021. There’s no credit check required, and suppliers can work with a dedicated team focused on facilitating payments and supporting the accountsreceivable (AR) process. Reconciling my books faster is such a relief.” But neither is rapid payment.
Invoices facilitate payment, keep records of accountsreceivable, and help manage finances. Furthermore, integrating purchase order systems with accounting software enables seamless financial management, making it easier to reconcile invoices, track expenses, and generate accurate financial reports.
Compared to check payments, credit card payments via merchant account offer several benefits, including: Faster cash flow: Receive payment funds in days instead of weeks. A report by the Federal Reserve notes that 28% of payments in 2021 were made via credit card. You receive remittance advice digitally to reconcile the payment.
Sample Invoice Invoice Number Date Due Date INV-20210001 January 1, 2021 January 31, 2021 Item Description Quantity Unit Price Amount Product A Description of Product A 2 $50.00 $100.00 It helps in tracking sales, managing accountsreceivable, and ensuring timely payments. Product B Description of Product B 1 $75.00 $75.00
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