What are parameter to be consider before making a Payment?

If you want your website to have a good reputation, you need to take care first of all about the security of transfers and payments, so I advise you to cooperate with a proven and reliable platform. I also advise you to create a Business Account and be sure that your money will be protected by the National Bank of Lithuania with fraud protection functions.

Collate the various document associated with the payment.This includes

The invoice

The way bill/ delivery note  if it is an item supply

The goods receipt note

The Lpo/ Authority to supply

Match and verify these documents

Then process the payment

It depend on Contract and accordingly procedure can establish.

Timely Payment is very important for Building up the confidence in the market.

A. For Supplier Payment,

1. Check the Payment term in PO.

2. Cash Flow Statement for the Month

3. Delivery/Installation Certificate.

4. Payment Policy of the Company.

B. Other Payments

1. Cash Flow Statement.

2. Payment Policy of the Company.

3. Importance of the Payment.

4. Petty Cash Policy.

More over the company have to Consider the situation like Law, Exchange Rate Etc.. of the country they are making the payment .