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If you’re running a business, big or small, you know how crucial it is to keep track of invoices, stay organized, and save time. With Pay by Invoice, all the above is made easy. As a customizable, invite-only invoicing tool, eligible Amazon Business customers can take advantage of payment terms for eligible purchases made on Amazon Business, so you can focus on optimizing and growing your business.
For eligible participants, using this tool will enable you to easily track your spending with itemized invoices and simplified reconciliation – improving cash flow and streamlining payments and purchases. What’s even better is that, as your company grows and changes over time, this program does the same. It’s designed with the flexibility to adapt to your ever-changing business needs so you can feel confident purchasing for your business.
Find out how to use Pay by Invoice to optimize your business’ purchasing below.
Whether it’s just you making purchases from Amazon Business or you have multiple employees doing the same, it can take time to locate the right invoices during reconciliation. This process can be further complicated when you have to sort through individual expense claims, track down missing expense reports, or manage how employees use personal payment methods.
Pay by Invoice can make this process easier and more efficient as it allows you to:
● Match POs with invoices and quickly make payments
● Receive one invoice for all your business expenses
● Choose the frequency of when you receive your invoices
● Verify goods and request changes to invoices before paying
● Customize and control who is able to use Pay by Invoice
It can take time to find specific invoices or purchase amounts – time you could be spending on other areas of your business. Through built-in analytics tools that allow you to search your itemized digital invoices and download them by PO, transaction amount, and date, Pay by Invoice helps streamline the process to help you quickly find the purchasing data you need.
Another benefit of using Pay by Invoice is easy two- and three-way matching. If you’ve ever had to deal with (or are still dealing with) manually managing, tracking, and reconciling all your purchases, you know how time-consuming it can get. Two- and three-way matching helps you avoid errors and gain full transparency by allowing you to consolidate your order, item receipt, and invoice information.
With Pay by Invoice you can also:
● Have invoices sent to multiple email addresses, not just one
● Receive your invoices monthly and by purchase order
● Consolidate all company invoices in one place
● Customize your invoices and add customer-defined fields
As an Amazon Business customer, using Pay by Invoice means that you can purchase what your business needs without having to pay right away. Need to cover some overhead expenses like inventory or rent, but you’re not sure how much additional overhead you’ll have in the next 30 days? Pay by Invoice can help you cover those other expenses by allowing you to defer your payments. Doing so will ensure that your business has what it needs, when it needs it, without compromising your budget. Plus, with an eligible Business Prime plan, you have the option to extend payment terms to 30 days or up to 45 and 60 days if you’re based in the US.
Pay by Invoice offers your business more flexibility, control, and visibility by letting you know how much you owe when you pay on time so you can budget accordingly. To get started, it’s important to know how to pay your invoices with your preferred payment method once you’ve signed up so you’re ready to start optimizing.
If your Amazon Business Account is assessed and determined to be eligible for Pay by Invoice, you’ll receive an invitation via email to activate your credit line. It’s important to note that the credit line is only open for 180 days, and if the purchasing line is not activated within that time frame, the credit line will be de-activated. After activating Pay by Invoice, you can always request to increase or decrease your credit line, subject to credit approval, depending on your business needs*.
I have a Pay by Invoice invitation, what do I do next?
If you’ve recently been offered Pay by Invoice, discover how this program can help your business by trying it out. The program’s convenience, efficiency, and transparency will not only have you managing your business expenses with confidence but will also adapt with you as you continue to grow. Start getting the support you need and save time by using Pay by Invoice.
* Subject to credit approval