If you own a company in Auckland which deals with credit terms on debit and credit cards, you might well benefit from invoice factoring. It is a method of invoice discounting whereby a company is allowed to bill the client for items they purchase using their debit card, rather than the credit card they hold for the same purchase.
What is invoice discounting? Simply put, this type of processing enables a company to charge an item it charges a client for using its credit card, when it has purchased the item using its debit card. This is not a very attractive situation for the clients of a company.
When an invoice is made, a bank or other lending institution is involved in the process of recording the invoice. The amount charged for a particular transaction is then entered into a system. In the process of entering that data, a debit or credit number is entered into the system. The bank or lending institution then sends an email to the client who was billed.
Once the invoice is received by the client who had been charged for the purchase, he or she will usually dispute the bill with the issuing company. If the client contests the bill, he or she can also challenge the data entered in the system.
This can be done because the company has not entered in any client’s credit card or bank account details properly. Therefore, when the bank or lending institution has to process the bill, it is able to find no evidence to support the charge, or at the very least the company cannot provide any evidence that the debit or credit card was used in the way indicated in the invoice.
Therefore, when the bank account details of a client are entered incorrectly or if there is a mistake made, a dispute can be made with the bank or lending institution in question. If a bank or lending institution finds a breach of account or debit card data, they will require the client to provide them with any evidence that they have that they used their account or debit card for the purchase the invoice was given.
When the client disputes the invoice, they will most likely get their money back, but the process of getting the funds can take weeks or even months. as it is sometimes necessary to go to court in order to obtain a refund.
Online invoice factoring in Auckland can save the client time and money, because the internet enables the client to do a quick search for an alternative source of billing service. This can mean the difference between a successful billing dispute, and a missed opportunity to save both time and money.
Online invoicing in Auckland is just another way to increase efficiency. Using a different system for billing, means more accurate invoicing and less errors.
An online bill processor, or a billing software package, can be used as an inexpensive way to speed up a billing process. Because billing software packages can be very customizable, the customer can quickly add, edit, or remove invoices.
There are many companies out there that offer online billing software packages. By using one of these packages, the customer will be able to use it to record invoices from multiple customers and pay them off over time.
An online invoicing system can also save the client money, as well as time and resources. There are so many things that can be automated, that these packages can help the client avoid the need to spend hours and days entering data, when invoicing their clients.