Workflow Templates: Billing Process Checklist

Verify the accuracy of customer information and update it if necessary

Review the terms and conditions of the contract or agreement

Ensure that the billing schedule aligns with the contract

Generate the invoice using the correct template and include all necessary details

Review the invoice for accuracy and completeness

Obtain the necessary approvals before sending the invoice to the customer

Choose the appropriate method for sending the invoice (email, mail, electronic billing system)

Ensure that the invoice is sent to the correct contact person or department

Confirm receipt of the invoice by the customer, if required

Monitor incoming payments and apply them to the correct invoice

Reconcile payments received with the corresponding invoices

Address any discrepancies or issues with payments promptly

Send reminders for upcoming or overdue payments according to the agreed terms

Contact the customer regarding any overdue invoices and attempt to secure payment

Escalate the collection process if necessary, following internal guidelines

Prepare regular reports on billing activity, including aging reports and revenue recognition

Analyze billing data to identify trends or issues that need attention

Provide insights and recommendations to improve the billing process

Billing Process Checklist