Furthermore, to avoid delay in payment, it is important that the invoice includes the following mandatory information which should match the details provided in the purchase order (PO):
- Addressed to relevant Covestro Company including correct company name and full address. The addresses of Covestro subsidiaries are listed in the addresses & contacts per Covestro subsidiary list.
- Adhere to country specific requirements predefined by legal regulations (e.g. VAT)
- Supplier’s full name and address
- The word “invoice” (or if a credit, the words “credit note”)
- Invoice number and invoice date
- Value and currency
- Description of goods and services supplied
- Covestro PO number and PO item number (if applicable)
- Name and contact details of Covestro representative
- Any unique reference number or information requested by the Covestro representative
- Specify advance payments and final settlements, and always indicate already paid advance payments.
The invoice should be split between the net value of goods and services, the rate and amount of VAT, and the total/gross value of the invoice. Please note that any invoice which does not comply with the above requirements will be returned to the supplier for resubmission. This may lead to a delay in payment.
Correct invoicing for on-time payment
To ensure timely and accurate handling of your delivery and payment of your invoice(s), we request that all suppliers fully comply with the following instructions:
- Only one purchase order (PO) should be billed per invoice.
- The invoice should match the PO (e.g., if the PO is split into separate line items; the invoice should also be split into separate line items).
- Unit price, unit of measurement and currency must be the same as on the PO.
- PO line item number needs to be referenced on each invoice line item.
- Invoice payment term has to match PO payment term.
- Bill of Lading or Packing Slip Number is helpful to streamline internal processes.
- Valid bank account data must be included on the invoice.
Any missing information or deviations from the above can lead to higher internal processing times which therefore may lead to delays in payment.