Generate a single consolidated invoice that includes multiple invoices for a specific time period
Consolidated Invoice & payment
Our customized NetSuite solution, Consolidated Invoicing enables generation of a ‘single consolidated invoice’ that includes multiple invoices for a specific time period. Here, a customer receives one invoice instead of multiple invoices per transaction in that period and is able to make a one-time payment that distributes among all invoices.
How customers purchase the products and/or services today? Are they making infrequent purchases, where one invoice per one transaction is appropriate? Or, are they making multiple purchases a day, week, or month, and getting an invoice every time they initiate a transaction?
If the answer to the second question is “yes”, the business and customers could benefit from a consolidated invoicing strategy. That means creating a process where you specify a time period (or invoice cycle) and batch together all transactions for that time period in one invoice. It’s easier on both parties – fewer invoices for the business to generate, and fewer invoices for customers to track down.
From other side, without a consolidated invoicing function, every business is forced to input manually each transaction or billable item into a consolidated invoice, or send a plethora of invoices to each customer. Either the business has massive time losses due to manual work, or risks the delay (or total loss) of payments due to customer confusion.
The Consolidated Invoice is one single bill for all the items one vendor ships to one customer over a certain number of days regardless of the number of shipments or purchase orders, with benefits of reducing time, paper, and costs required for individual shipment invoicing.