Calculating Late Payment Interest on an Invoice. When you allow customers time to pay the balance on an invoice, you are actually extending credit. That's fine when customers pay on time.

What Steps to Take Before Approving an Invoice for Payment. It would be great if all business matters were conducted based on trust.

Step 7: Specify payment methods. Let your client know how to pay you, and make it easy: Bank transfers: Provide your bank name, account holder, account number and any reference needed. Cheques: ...