An invoicing system is a tool used by businesses to generate and customize invoices with important information such as client details, provided products or services, quantities, and prices. The invoices can be transmitted electronically or printed and mailed to the client. In addition, the system keeps track of invoice statuses, sends payment reminders, and assists in managing payments and accounts receivable.
Currency Handling in Invoicing Systems
Invoicing systems can handle different currencies, which is beneficial for businesses with international operations or clients in various countries. This feature enables the system to automatically convert amounts based on the current exchange rates or allows users to input the exchange rate manually.