Editing Invoice (section)

==Payment==
Organizations purchasing goods and services usually have a process in place for approving payment of invoices based on an employee's confirmation that the goods or services have been received.<ref>{{Cite web |url=http://www.invoicetemplate.ca/MDO_BTP_Invoice_flowchart_123954_7.pdf |title=Michigan state Bureau of Transportation Invoice processing |access-date=9 July 2013 |archive-date=16 December 2013 |archive-url=https://web.archive.org/web/20131216211707/http://www.invoicetemplate.ca/MDO_BTP_Invoice_flowchart_123954_7.pdf |url-status=live }}</ref><ref>[http://privacy.navy.mil/noticenumber/N07240-1.asp US Department of the Navy Commercial Invoice Payments History System] {{webarchive|url=https://web.archive.org/web/20070703144851/http://privacy.navy.mil/noticenumber/N07240-1.asp |date=3 July 2007 }}</ref><ref>[http://guidebook.dcma.mil/18/commer.htm Commercial Contracting Guidelines - US Defense Contract Management Agency] {{webarchive|url=https://web.archive.org/web/20070626102249/http://guidebook.dcma.mil/18/commer.htm |date=26 June 2007 }}</ref><ref>[http://www.acquisition.gov/bestpractices/bestpcont.html US Office of Federal Procurement Policy - Best Practices for Contract Administration] {{webarchive|url=https://web.archive.org/web/20070612211853/http://www.acquisition.gov/bestpractices/bestpcont.html |date=12 June 2007 }}</ref>

Typically, when paying an invoice, a [[remittance advice]] will be sent to the supplier to inform them their invoice has been paid.

Non-payment and late payment of invoices is estimated to be the cause of 25% of corporate bankruptcies. To mitigate this, the European Commission has introduced the Late Payment Directive that sets a limit on businesses to settle their invoices within 60 days.<ref>{{Cite web |title=Late Payment Directive - European Commission |url=https://single-market-economy.ec.europa.eu/smes/sme-strategy/late-payment-directive_en |access-date=2024-03-26 |website=single-market-economy.ec.europa.eu |language=en}}</ref>