Where it usually breaks
And how to keep it from happening.
- The same cash cannot be allocated twice.
- An invoice cannot post in a closed period.
- A payment timeout is not confirmation of rejection.
- Aerospace ERP
- Process
- Invoice to close
Invoice to close
Bill eligible delivery scope, apply confirmed cash and approve the period close.
Step by step
-
Prepare invoice Accountant
Accountant builds the invoice from unbilled title-transferred quantity, checked tax and the frozen currency rate. The posting period must be open.
- Prepare bounded billable scope
- Updates Invoices, Invoice lines
-
Approve invoice Finance Manager
Finance Manager independently checks the current invoice revision, entity, total and eligible source allocation before approval.
- Approve the invoice for posting
- Updates Invoices, Approval decisions
ApprovalA person approves before the work moves on. -
Apply cash Accountant
Accountant records actual customer receipt evidence and allocates within both unapplied cash and the open invoice balance.
- Post one bounded receipt allocation
- Updates Cash receipts, Cash applications
-
Reconcile period Accountant
Accountant checks bank statement matches, supplier payments, journals and close tasks at the cutoff. Uncertain payment outcomes stay open for review.
- Resolve source differences before close
- Updates Bank statement lines, Payments, Close tasks
-
Approve close Finance Manager
Finance Manager reviews unresolved close tasks and revaluation before approving the accounting period close. Reopen needs separate authority.
- Close the reviewed entity period
- Updates Accounting periods, Approval decisions
ApprovalA person approves before the work moves on.
Who does what
Roles and permissions- Accountant
- , Finance Manager.
Set up Aerospace ERP your way.
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