Billing and Payments

Billing and payments refer to the process of invoicing customers for goods or services and receiving the money owed. Billing involves generating an invoice that details the products or services provided, along with the amount due and payment terms. Payments are the actual transfer of funds from the customer to the business, which can happen through various methods like cash, credit cards, or digital transfers. Efficient billing ensures clarity and accuracy, while timely payments ensure a business maintains healthy cash flow. Together, they are essential for managing financial transactions and sustaining business operations.