Managing invoices is an important part of running a successful business. It involves tracking and processing invoices from vendors, customers, and other third parties. This includes verifying the accuracy of the invoice, entering the invoice into the accounting system, and ensuring payment is received in a timely manner. It also involves tracking the status of the invoice, such as whether it has been paid or is still outstanding. By properly managing invoices, businesses can ensure that their accounts receivable and accounts payable are accurate and up to date. This helps to ensure that the business is operating efficiently and that it is not overpaying or underpaying its vendors and customers. Properly managing invoices also helps to ensure that the business is compliant with applicable laws and regulations.