Outstanding invoices and past due invoices are often used interchangeably, but actually, these words mean two separate things.Īn outstanding invoice, as previously mentioned, is used when an invoice has been delivered, is waiting to get paid, but the payment due date has not come yet. Difference Between Outstanding and Past Due Invoices
During the days that the buyer has not yet sent the cash, the invoice is referred to as an outstanding invoice. Payment terms dictate when the client is required to pay back the business.įor example, a payment term of net-30 means that the buyer has 30 calendar days to pay for the products and services they purchased. The time period it remains outstanding depends on the payment terms of the invoice. Track Outstanding Invoices with Accounting SoftwareĪn outstanding invoice is a term used for a sales invoice that has been sent to a client and is now waiting to get paid.
#Checking outstanding invoices how to
How to Get Paid on Time for Outstanding Invoices.In this guide, we will be explaining these precautious actions you can take, along with any other questions you might have regarding outstanding invoices.
If you’ve ever had the unfortunate luck of dealing with unreliable clients, you’ve probably dealt with cases where an outstanding payment has become overdue.Īs frustrating as that situation may be, there are some measures you can take to prevent outstanding invoices from turning into bad debt. When you issue an invoice and are on the wait for payment, this invoice is referred to as an outstanding invoice.
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