{"id":6620,"date":"2019-08-01T10:00:18","date_gmt":"2019-08-01T09:00:18","guid":{"rendered":"https:\/\/www.sage.com\/en-gb\/blog\/?post_type=sage_glossary&#038;p=6620"},"modified":"2026-01-29T11:36:02","modified_gmt":"2026-01-29T11:36:02","slug":"what-is-an-invoice-payment","status":"publish","type":"sage_glossary","link":"https:\/\/www.sage.com\/en-gb\/blog\/glossary\/what-is-an-invoice-payment\/","title":{"rendered":"What is an invoice payment?"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/glossary\/\" class=\"entry-header__link\">Glossary definition<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tWhat is an invoice payment?\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"What is an invoice payment?\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-gb\/blog\/glossary\/what-is-an-invoice-payment\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n\t<\/header>\n\n\n\n<p class=\"wp-block-paragraph\">An invoice payment is a scheduled payment a customer makes toward the balance of goods and services rendered.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/invoice-cheat-sheet\/\">invoice<\/a> is a document showing details of any goods or services sold and requests an amount payable for these services.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It will also normally include the date, a unique invoice number, quantities and information about <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/what-is-vat-uk-vat-basics-from-sage\/\">VAT<\/a>. Payment details and credit terms are also often included.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Invoices are issued by your business to your customers and they will trigger the payment for the product or service you have supplied.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Make sure you get this process right to increase your chances of getting paid on time and <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/awkward-conversations-get-invoices-paid\/\">avoid awkward conversations<\/a> with your customers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Invoice payments can be made and requested in many ways.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The popular route for many businesses is <a href=\"https:\/\/www.sage.com\/en-gb\/accounting-software\/invoicing\/\">sending invoices electronically<\/a>, or e-invoicing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">E-invoices are emailed to the customer with the same details as the paper version, and they include a way for the customer to pay the invoice directly from the invoice.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can also use your <a href=\"https:\/\/www.sage.com\/en-gb\/accounting-software\/\">accounting software<\/a> to manage your invoicing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-common-invoice-requirements\"><strong style=\"color: #333f48;\">Common<\/strong> <strong style=\"color: #333f48;\">invoice requirements<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Your invoice should include everything that the receiving party might need to process your invoice. This limits the chances of your <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/business-intelligence-improve-cash-flow\/\">invoice being paid late<\/a> because of missing information.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Your invoices should include these <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/invoice-cheat-sheet\/\">basic components<\/a> before you take the step to process an invoice:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Your company name<\/li>\n\n\n\n<li>Your trading address<\/li>\n\n\n\n<li>Methods of contact (your name and how to get hold of you, should there be a query)<\/li>\n\n\n\n<li>What your customer bought (a description \u2013 don&#8217;t forget, the buyer may not receive your invoice, but just be asked to sign off the amount)<\/li>\n\n\n\n<li>Who ordered the goods (this is not mandatory but it can help)<\/li>\n\n\n\n<li>An invoice number (your file number, for easy reference)<\/li>\n\n\n\n<li>The date (don&#8217;t forget this, it&#8217;s vital)<\/li>\n\n\n\n<li>How you&#8217;d like to be paid (another hugely important element but one a large number of people forget)<\/li>\n\n\n\n<li>Credit terms (i.e. payable immediately, or within 7, 30, 60 days, etc)<\/li>\n\n\n\n<li>The amount you are charging<\/li>\n\n\n\n<li>Your bank details (very important if you want to receive the money)<\/li>\n\n\n\n<li>Any stage payments<\/li>\n\n\n\n<li>Whether VAT is applicable<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-are-invoice-payment-terms\"><strong style=\"color: #333f48;\">What are invoice payment terms?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The terms of an invoice payment will vary, depending on your cash flow and financial obligations. You can set your own <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/establish-payment-terms\/\">payment terms<\/a> and any due date that you choose.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you don&#8217;t set a payment date, the customer must pay you within 30 days of receiving your invoice for the goods or service.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can also offer discounts for early payment and payment upfront to encourage prompt action.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-invoice-examples\"><strong>Invoice examples<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Create an <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/professional-invoice-templates\/\">invoice that looks professional<\/a> and provides the person receiving it with all the information they need to know.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This will give you the best chance to get paid on time and reduce the chances of being paid late or you needing to <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/recover-unpaid-invoice\/\">chase an unpaid invoice<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Remember, many companies have a department that is one step removed away from the person who made the buying decision.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">See our <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/professional-invoice-templates\/\">free invoice templates<\/a> as an example of a customer invoice that you can use for your business.<\/p>\n\n\n<p>[skyword_tracking \/]<\/p>\n\n<section class=\"more-topics alignfull has-grey-light-background-color wp-block-sage-post-topics\">\n\t<div class=\"container\">\n\t\t<div class=\"row\">\n\t\t\t<div class=\"col col-12 col-lg-4\">\n\t\t\t\t<h3 class=\"more-topics__title h2\">Browse more topics from this term<\/h3>\n\t\t\t<\/div>\n\t\t\t<div class=\"col col-12 col-lg-8\">\n\t\t\t\t<ul class=\"post-tags__list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/tag\/business-finances\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tBusiness finances\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/tag\/make-receive-payments\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tMaking and receiving payments\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<div class=\"alignfull wp-block-sage-related-posts\">\n\t<section class=\"related-posts card-grid has-dark-background-color\">\n\t<div class=\"container\">\n\t\t\t\t\t<div class=\"row\">\n\t\t\t\t<div class=\"col\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--featured h1\">Explore more wisdom<\/h2>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"row related-posts__featured\">\n\t\t\t\t<div class=\"col 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Learning the financial essentials can help you stay compliant, understand your numbers, and create a stronger foundation for long-term success. \t\t\t<\/p>\n\t\t\n\t\t\t<\/div>\n\n\t<\/article>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t\t\t\t<div class=\"row related-posts__non-featured\">\n\t\t\t\t<div class=\"col col-12\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--more h4\">More on this Topic<\/h2>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-1 post-4230 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters tag-cash-flow tag-grow-business tag-make-receive-payments business_type-small-business business_type-medium-sized-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-gb\/blog\/get-paid-faster\/\"\n\t\t\t\t\t>\n\t\t\t<figure 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2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">8 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tWhat is a business line of credit and how do you apply for one?\u00a0\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-4 post-10305 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters tag-business-finances business_type-small-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-gb\/blog\/business-bank-account-small-business\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2021\/08\/Bright-Path-Consulting_FY20_SBC-Accounting-Payroll_78-1-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2021\/08\/Bright-Path-Consulting_FY20_SBC-Accounting-Payroll_78-1-684x384.jpg 684w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2021\/08\/Bright-Path-Consulting_FY20_SBC-Accounting-Payroll_78-1-768x513.jpg 768w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2021\/08\/Bright-Path-Consulting_FY20_SBC-Accounting-Payroll_78-1-1214x810.jpg 1214w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-08-05T12:10:03+01:00\">5 August, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">8 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tWhat is a business bank account? A guide for UK businesses\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>An invoice payment is a scheduled payment a customer makes toward the balance of goods and services rendered. An invoice is a document showing details of any goods or services sold and requests an amount payable for these services. It will also normally include the date, a unique invoice number, quantities and information about VAT. [&hellip;]<\/p>\n","protected":false},"author":346,"featured_media":0,"template":"","meta":{"_sage_video":false,"footnotes":""},"tags":[135,25],"class_list":["post-6620","sage_glossary","type-sage_glossary","status-publish","hentry","tag-business-finances","tag-make-receive-payments"],"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice UK","distributor_original_site_url":"https:\/\/www.sage.com\/en-gb\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/sage_glossary\/6620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/sage_glossary"}],"about":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/types\/sage_glossary"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/users\/346"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/sage_glossary\/6620\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/media?parent=6620"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/tags?post=6620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}