How to Deal With Missing Invoices

Late or missing invoices can be a significant challenge for businesses, leading to cash flow issues, strained supplier relationships, and unnecessary financial stress. Whether caused by human error, misplaced paperwork, or inefficient systems, these disruptions can quickly escalate if not managed effectively.

At Westgate Moore Associates (WMA), we help businesses resolve payment discrepancies and prevent financial leakage through robust payment audits and advanced automation tools. In this blog, we’ll share practical tips for handling late invoices and missing invoices, as well as how to ensure compliance with late invoicing rules in the UK.

The impact of late or missing invoices

Delayed or missing invoices may seem minor, but their effects can ripple across your business. Example consequences of late or missing invoices include:

1. Supplier frustration – Missing invoices can delay payments to suppliers, damaging relationships and impacting trust.
2. Compliance risks – Non-compliance with late invoicing rules can result in penalties or legal issues that affect financial health and brand reputation.
3. Financial leakage – Untracked or duplicate invoices can lead to unnecessary payments and unclaimed credit notes.

5 steps to deal with late or missing invoices

1. Adopt a Robust Invoice Management System

Manual processes are a common cause of missing invoices. Human error, misplaced paperwork, or overlooked emails can result in invoices slipping through the cracks.

How to fix this:

• Implement automated solutions like WMA’s supplier statement reconciliation tool.
• Ensure all invoices are tracked digitally, from receipt to payment.
• Use cloud-based systems that allow access to invoices from anywhere at any time, reducing the risk of loss in remote or hybrid environments.

With tools like WMA’s, you can process 100% of monthly reconciliations and identify discrepancies faster, saving time and improving accuracy.

2. Communicate Clearly with Suppliers

Effective communication with suppliers can help resolve late or missing invoices quickly and smoothly. Establish clear processes for invoice submissions and regularly check on invoice dates.

Tips for managing supplier invoices:

• Request that all invoices include key information, like supplier name, date, invoice number, and payment details.
• Create a dedicated contact or team to handle invoice queries.
• Use automated tools to send confirmation receipts when invoices are received.

Automated systems allow you to communicate directly with suppliers to confirm the status of invoices and resolve issues quickly.

3. Regularly Reconcile Supplier Statements

Regular reconciliation is critical to identify missing invoices, prevent duplicate payments, and locate discrepancies before they escalate.

Performing effective reconciliations:

• Cross-check invoices against purchase orders, delivery receipts, and supplier statements to ensure details are correct and nothing is missing.
• Implement automated reconciliation tools to streamline processes and flag mismatches; WMA can help you with this.
• Schedule regular reviews so that errors are spotted early on. 

4. Prevent Future Issues with Automation

Preventing late and missing invoices starts with having the right tools in place. Automation streamlines invoice management, reduces manual errors, and ensures timely payments. You can also benefit from:

• Saved time – Automation eliminates manual tracking errors by automating invoice receipts, reconciliation, and approvals.
• Error and fraud detection – Automation can flag missing or duplicate invoices before they impact cash flow, helping you prevent issues like fraud and loss of cash flow.
• Enhanced supplier relationships – Automation ensures payments are correct and paid on time, in turn improving supplier relationships. 

At WMA, our software enables businesses to stay on top of invoices, improve cash flow, and stay compliant with UK payment practices. Explore more about our software today.

How Westgate Moore Associates can help you deal with late or missing invoices

At WMA, we specialise in payment audits and automated reconciliation solutions that protect your working capital. Whether you’re struggling with invoice discrepancies, missing payments, or delayed credit notes, our tools and expertise can help.

Discover how WMA can help streamline your processes and safeguard your cash flow, contact us today for further information.