Self Invoicing

Finance users can utilize this workspace to view and work with self invoicing.

Self-invoicing enhances Maconomy’s subcontractor functionality.

It is a process where the company prepares the vendor invoice, sends it to the vendor, and then pays the invoice. The invoice is based on the agreement reached between the company and the vendor, and reconciled with the relevant time and expense registrations.

This feature enables companies to receive assurance from their vendors early on that all costs are registered, and are able to control the amounts for which they are billed. Vendors also benefit because self-invoicing generally speeds up the payment process.