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2 months ago
Discuss the advantage and disadvantage of the open-invoice method.
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Accounting Information Systems
Edition: 14th
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2 months ago
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One advantage of the open-invoice method is that it is conducive to offering discounts for prompt payment, as invoices are individually tracked and aged. It also results in a more uniform flow of cash collections throughout the month. A disadvantage of the open-invoice method is the added complexity required to maintain information about the status of each individual invoice for each customer.
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