A vendor invoice is supplied to a customer by the vending individual or business and allows for the collection of payment before, during, or after the sale.
What is a Vendor Invoice?
A vendor is a broad term for any type of business or individual that deals in a transactional relationship with a customer. Vendors can also be considered the supplier (manufacturers, processors, etc.), but when dealing directly with an end customer in a transaction, the role is that of a vendor.
A vendor invoice is a tool that helps to collect payment on goods and products sold to customers. If a manufacturer’s end customer is the retailer, the manufacturer would need to use a vendor invoice when selling their finished product to the retailer. Likewise, the retailer would then use their own vendor invoice when selling the product at retail price to their end customer.
A vendor could be any of the following:
- Retail shops
- Street vendors (however, these type of businesses hardly ever use invoices when selling to customers)
- Business to business (B2B)
Vendor Invoice Management System/Workflow
By issuing an electronic invoice to customers, a vendor can streamline the payment process by using the same template each time while only having to change the information of the customer or product. Businesses and individuals can then save customer information and send out invoices seamlessly when it comes time to be paid. By using our invoice, vendors can easily save customer information, issue unlimited invoices, and collect payment.