Finance and close

Accountant prepares invoices from eligible customer scope and follows receipts into their invoice applications. A bank receipt can remain unapplied while the team identifies the correct customer or invoice. Amount received, amount applied and amount available should stay distinguishable throughout that investigation.

On the supplier side, an approved bill can enter a payment run. Finance Manager independently releases the prepared instruction. Sending and clearing require their own evidence. Period-close work then brings these transactions together with journals, depreciation and the assigned reconciliation tasks for each entity and accounting period.

• Customer settlement. Invoice applications identify the cash and invoice involved. Discounts, withholding and write-offs remain separately attributable so an invoice’s paid state has an understandable settlement basis.
• Supplier release. A payment run retains its preparation and release identities, bank account and currency. The released instruction remains distinct from a later bank confirmation or returned payment.
• Close evidence. Close tasks have owners, due dates and retained completion evidence. Dependencies connect prerequisite work to later review and period sign-off.

Agree which employees prepare financial records and which Finance Manager decides approvals. Establish the journal and settlement authority policy, the open-period rules and the treatment of corrections. Review bank accounts, currencies and exchange-rate sources before importing transactions that depend on them.

Decide how incoming bank references are matched to customers and who resolves unidentified receipts. Set the review route for discounts or write-offs. For supplier release, rehearse a changed instruction and a rejected bank outcome. Define close tasks for the actual entity and period, including the evidence Finance Manager needs before moving from Open through soft close to hard close.

Use a customer invoice that receives a partial payment. Accountant records the receipt, applies the eligible amount and leaves the remaining invoice balance explainable. Then record another receipt that cannot yet be matched. It should remain visible as unapplied cash rather than being assigned to a convenient invoice merely to clear the queue.

Prepare a supplier payment run from an approved bill. Finance Manager checks the current instruction and releases it as a different employee from the preparer. Follow the bank result before treating the payment as cleared. If the bank rejects it, retain that outcome and investigate the obligation that still needs settlement.

At period end, complete the related reconciliation task and retain its evidence. Ask Finance Manager to inspect an unresolved prerequisite before attempting close. Correct the underlying transaction through its supported correction path, then refresh the affected close evidence. A completed task label should be backed by the reconciled records it represents.

• Unapplied Customer Cash — Receipts with amounts still available for attribution to customer invoices.
• Supplier Payment Release — Prepared runs waiting for independent financial release.
• Close Tasks Due — Dated close work with its owner, state and evidence attachment.

Use Fulfillment to customer cash, Purchase to supplier settlement and Asset charges and period close.