What is meant by Collective invoices?

Consolidated invoices, or collective invoices, refer to the practice of combining multiple individual invoices into a single invoice. This can occur in various contexts, such as when a customer has acquired multiple services or products over a period and wishes to receive a single invoice for all of them. Consolidated invoices can also occur in B2B situations where a company provides multiple deliveries or services to the same customer and consolidates them into a single invoice.

Typical functions of software in the domain of consolidated invoices might include:

Invoice Consolidation:
- Automated consolidation of multiple individual invoices into a consolidated invoice.
Customer Management:
- Management of customer information and preferences for generating consolidated invoices.
Flexible Invoice Formatting:
- Customizable templates for presenting items and total amount in the consolidated invoice.
Automation of Payment Tracking:
- Tracking of payments received for the consolidated invoice.
Documentation and Compliance:
- Capture and storage of information for accounting purposes and compliance requirements.