What Is Invoice Payment?

Invoice payment is the transfer of funds from a buyer to a seller in response to an invoice. It settles the amount the seller invoiced for goods or services delivered. Once the payment clears, the invoice is marked "Paid" in the seller's accounting system.

Common invoice payment methods in Australia:

Bank transfer (EFT) using BSB and account number
PayID — instant payment using email or phone number
BPAY — payments through online banking using a biller code
Credit or debit card — via Stripe, Square, or a payment link
Cheque — slower and increasingly rare
Cash — only practical for in-person sales

When you receive an invoice payment, match it to the invoice number, mark the invoice as paid, and issue a receipt if the buyer asks. Buyers should always include the invoice number as the payment reference so the seller can match it quickly. Late or missed payments can be followed up with a polite reminder, then a more formal demand, and finally a debt collection process if needed. InvoiceSonic tracks invoice payment status and sends automatic reminders.

What Is Invoice Payment?

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