75. Invoicing and Payment Terms Policy
75.1. This policy provides clear guidance for employees on issuing client invoices and managing payment terms.
75.1.1. It ensures consistency, accuracy, and compliance with company financial procedures.
75.2. This policy applies to all employees involved in preparing, issuing, or managing client invoices, including directors, project managers, and administrative staff.
75.3. Architecture North Ltd operates on a “Payment Due on Receipt” basis.
75.3.1. All invoices issued to clients are payable immediately upon receipt unless otherwise stated in a written agreement approved by a Director.
75.4. Employees must ensure:
75.4.1. Invoices are issued promptly upon completion of agreed project stages or services.
75.4.2. Invoices must be checked for accuracy before sending.
75.4.3. A digital copy of each invoice must be saved in the Company’s secure finance folder under the correct project reference.
75.5. Accounting Staff are responsible for issuing invoices, tracking payments, and sending reminders in line with this policy.
75.5.1. Management is responsible for authorising any deviations from standard terms (e.g., staged payments, extensions).
75.6. Failure to follow this policy may result in delays in payment, project disruption, and reputational damage.
75.6.1. Employees are expected to ensure all invoicing and payment procedures are followed consistently.