Collecting invoices from vendors, checking them for accuracy, authorising them, authorising payment, sending the funds, and recording the transaction in financial records are all part of invoice processing.
Invoice processing management is a critical step in account payable management. Bills and invoices are typically received in electronic format (email, PDF, electronic invoicing) and then manually processed. Data entry is a manual process due to the nature of the company's accounting system. The next step will be taken after the invoice has been reviewed and paid.
