Invoice Prioritization and Management Template

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Efficiently manage your accounts payable with the Invoice Prioritization and Management template. This tool helps you prioritize due invoices using the Quadrants method, ensuring timely payments and avoiding late fees. By delegating less urgent tasks and focusing on immediate dues, maintain good relations with suppliers and streamline your payment process.

Follow the step-by-step tasks to review, schedule, delegate, and improve your invoice management system, ultimately enhancing your financial operations in the healthcare-dental industry.

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Invoice Prioritization and Management for Priority Matrix

Invoice Prioritization and Management in Priority Matrix

Manage and prioritize invoices effectively to ensure timely payments and minimize late fees.

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Proposed Tasks

Urgent and Important

  • Task 1: Review all outstanding invoices due in 1 day
    ☐ Identify all invoices due in 1 day ☐ Review invoice details ☐ Ensure funds are available
  • Task 2: Schedule payment for invoices due in 2 days
    ☐ Identify all invoices due in 2 days ☐ Review invoice details ☐ Schedule payment
  • Task 8: Follow up on overdue invoices due in 1 week
    ☐ Identify overdue invoices ☐ Contact supplier ☐ Arrange payment

Important, Not Urgent

  • Task 10: Prepare monthly invoice report
    ☐ Collect invoice data ☐ Prepare report ☐ Present to management
  • Task 4: Discuss payment terms with suppliers for future invoices
    ☐ Identify key suppliers ☐ Arrange meetings ☐ Discuss and agree on payment terms
  • Task 3: Delegate invoices due in 3 weeks
    ☐ Identify all invoices due in 3 weeks ☐ Assign to junior staff

Urgent, Not Important

  • Task 5: Review payment software for efficiency
    ☐ Review current software ☐ Identify areas for improvement ☐ Research alternative software if needed
  • Task 9: Update invoice tracking system
    ☐ Review current tracking system ☐ Update with recent invoices

Not Urgent, Not Important

  • Task 6: Train junior staff on invoice management
    ☐ Identify training needs ☐ Arrange training sessions ☐ Monitor progress
  • Task 7: Review company’s payment policy
    ☐ Read and understand current payment policy ☐ Identify areas for improvement ☐ Propose changes if needed