Mexico’s economy is a developing one. Thanks to the age of global commerce, it’s being fueled by access to the greater global economy. This means that Mexican companies and consumers are frequently on the receiving end of goods and services from abroad—often, from the United States.
If you’re doing business with a Mexican company or need to send bills to clients, it’s important to understand how to invoice someone in Mexico. The process is relatively straightforward, but a thoughtful approach makes all the difference in terms of payment clarity, expedience and transparency.
Here’s what you need to know when sending an invoice to someone in Mexico, and how to structure the process for minimal mistakes or delays in receiving payment.
Information needed to generate an invoice
Before you can send an invoice, you need to create one. Creating an invoice means taking stock of the important information needed to facilitate payment: how much the recipient owes, what the invoice is for and when it’s due, for starters. Here’s a look at the other information businesses should include in every invoice:
- The issue date, payment due date and NET terms
- Sender and recipient names and contact information
- A unique and identifiable invoice number (for auditing)
- The full amount due for the products or services being invoiced
- A description of the scope of work being invoiced
- Approved modes of payment and/or ways to pay the invoice
In addition, it’s also important to consider currency when doing business in Mexico. Standard practice for most international business is to send the invoice in the local currency and adjust for conversion. In this case, it would mean sending an invoice sum in Mexican Pesos (MXN) and making a note of the conversion rate on the invoice.
Use data capture technology for paper invoices
Is your business still using paper invoices? It’s time to leave the paper in the past and opt for traceable, transparent digital invoicing. Payment systems like Veem make it easy to scan paper invoices and drop them into the platform, where they’re instantly converted into digital invoices. The technology is smart enough to read and register all the necessary information to get your invoice mocked up and ready for sending. It takes seconds and saves even more time for the person receiving the invoice.
Create pay links and payment requests
Looking for an even simpler way to send an invoice to someone in Mexico? Consider using Pay Links, from Veem. As you might be able to guess from the name, these are simple links that allow an invoice recipient to pay their bill in just a couple of clicks.
The convenience of Pay Links is unparalleled. Send it via email, through a messaging platform or even text it to the recipient, to give them instant access to payment options. In just a couple of clicks, you’ll get paid, making it easier to do business south of the border.
Don’t forget to integrate!
The final step in successfully invoicing someone in Mexico is making sure their payment gets to your business’ bank account. To do this takes a mind for integration. Businesses need to integrate digital invoice payments into their accounts receivable process—especially if you’re using Veem to pay and get paid. Establishing automations to receive incoming invoice payments gets that money into the business quicker and keeps the books up-to-date and balanced. From QuickBooks to Xero and beyond, simple automations make a world of difference.
Using Veem to invoice someone in Mexico
Getting ready to send an invoice to someone in Mexico? Veem is the simplest solution—and the one that’ll make it easiest for both sides to send and receive money. From data capture and digital invoicing to Pay Links and bookkeeping integrations, Veem tears down the barriers that can accompany international commerce. The result? A straightforward process that makes invoicing second-nature.
Ready to create, customize and manage your invoices like never before? Schedule a demo with Veem today and learn how to make invoicing the easiest part of doing business abroad.
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