Free Invoice Policy Template and 7 Tips for Getting Started

invoice policy template

Take Away AP Pain with a Strong Vendor Invoice Policy Template 

No one knows exactly what the future holds, from sales upswings and economic downturns to shifting regulations and fluctuating business priorities. Every Accounts Payable (AP) team needs to be prepared for change to be future-ready. A strong, templated vendor invoice policy is a step toward achieving that goal as well as adding more control and efficiency in your business.

Creating a policy for managing invoices may seem time-consuming initially, but in the absence of having one, your AP team will waste time chasing down information, fixing errors, and untangling confusion caused by conflicting ideas about processes. Once created and enforced, an effective invoice management policy can reduce the amount of time it takes to approve and process invoices, address exceptions, and manage documentation, allowing your employees to focus on their core competencies instead of busy work.

The easier a policy is to understand, the easier it is for your employees to follow and enforce.

What are the most important tips for business invoice policy to get started with?

To get started, first review the 7 tips such as: 

  • Create your invoice policy template based on different departments' needs

  • Work with vendors efficiently

  • Keep your business invoice policy clear and concise

  • Automate your business invoice processes

Why do you need SAP Concur's free invoice policy template?

Use our free invoice policy template with more detailed explanation for each category, as well as example template language to help create or update your business’s Vendor Invoice Policy. Please note, this free invoice policy template is not a legal document – it’s a starting point. You can edit the examples to suit your company’s policies and procedures and add information in the bracketed areas that are specific to your company.

Don’t delay, get started by downloading our free invoice policy template today!