what is an invoice payment

An invoice payment is a payment made by a customer for any goods or services provided by a business. It is a payment that customers make to a business once the goods or services are fulfilled. An invoice is a document showing details of any goods or services sold and requests an invoice payment. The invoice payment is one of the last parts of the end-to-end AP process. The payment can be made through various methods such as cash, cheque, credit, ACH payment, virtual card, or other methods. The terms of an invoice payment will vary, depending on the cash flow and financial obligations of the business. The payment terms and due date can be set by the business, and if not set, the customer must pay within 30 days of receiving the invoice for the goods or service. The invoice payment is an important document that records business transactions and serves as a paper trail for accounting purposes. It is advisable to keep a paid invoice as it records the payment made by the customer.