Finance and close

An order ships in parts and only eligible title-transferred quantity is billed. Accountant prepares the invoice; Finance Manager independently approves its frozen rate, tax, total and open period. A customer payment enters as unapplied cash, then is allocated within both available receipt and open invoice amounts. The supplier side uses a separately reviewed payment run.

• Eligible billing. Accountant prepares an invoice against unbilled title-transferred delivery allocation and an open period.
• Cash and payment evidence. Customer receipts become available for bounded invoice allocation; supplier payment instructions await real bank results.
• Period decisions. Accountant reconciles close tasks and corrections; Finance Manager approves the close or a separately authorized reopen.

Agree functional currency, rate source, posting accounts, tax treatment and cutoff for each entity. Name who prepares the invoice and who independently approves it. Keep a provider acknowledgment distinct from a submitted payment instruction. A timeout requires investigation against bank evidence before another attempt.

Bill only the title-transferred part of a shipment and leave the rest available for a later invoice. Apply part of a customer receipt to that invoice and show the remaining unapplied cash and outstanding balance. Before closing, reconcile a supplier payment whose provider outcome is uncertain and retain the original transaction with any linked correction.

An invoice decision should show the delivery line, accepted selling value, tax basis and rate used at the time of approval. Accountant can explain a partial cash application by showing both the receipt remainder and invoice balance after posting. A supplier payment sent to a provider is still an instruction until its outcome is reconciled; bank lines supply the external evidence. If a correction is necessary, link the reversal and replacement to the posted source. Finance Manager reviews unresolved close tasks and revaluation before deciding the period, then preserves the reason for any later reopen.

• Invoices awaiting approval — Prepared customer bills for Finance Manager to compare with eligible delivery scope.
• Open receivables — Posted invoices with a balance to collect or resolve.

Follow invoice to close from billable delivery to guarded period close. Use the data model to trace invoice lines, receipt allocation and bank evidence; rehearse authority with roles.