Finance and collections

Accountant prepares a customer invoice from accepted commercial value and title-transferred delivery scope. The source allocation prevents a partial shipment from claiming the whole order twice. The invoice retains document type, entity, currency, dated rate, due date, tax and total. Finance Manager independently approves the current revision before it posts. A draft total must reconcile within the allowed precision, and the accounting period must be open.

Each entity keeps its own accounts, bank balances and fiscal periods. Supplier bills connect to accepted receipts; customer invoices connect to eligible delivery and sales allocation. Journal entries carry a source identity and balanced debit and credit lines. Posted history is corrected through linked reversal or correction rather than direct edits.

• Billing. Invoice lines trace quantities and net value back to delivered order scope.
• Settlement. Actual cash receipts and applications preserve the source, rates and remaining balance.
• Close. Reconciliation tasks, revaluation and period decisions depend on current evidence.

A dealer may pay several invoices in one receipt, or pay one invoice in parts. Accountant records actual bank evidence first. Cash application reserves available unapplied money and open invoice scope, then posts the approved allocation. Currency differences are calculated from the retained receipt and invoice rate evidence. A repeated bank event must not create another receipt.

Set functional currencies, bank accounts, fiscal periods, tax codes and source-specific posting accounts for each entity. Finance Manager should define authority for invoice approval, payment release, refund, correction and period close. Accountant should know how bank statements arrive and how uncertain external acknowledgements are reconciled. Agree who reviews aged receivables and disputed invoices.

A month-end close starts with current bank, receivable, payable, inventory, transit and work-in-progress evidence. Revaluation uses a dated approved rate. Finance Manager reviews the delta and the reconciled source hashes before close. Reopening a period requires explicit authority; a late receipt should not quietly alter posted history.

Partially deliver a dealer order, prepare an invoice for only the title-transferred quantity and submit it. Change a source quantity after submission and check that the earlier approval cannot release the changed revision. Post a partial cash receipt and apply it once to the invoice. Try to apply more than the receipt’s unapplied amount, then repeat the bank event. Review the remaining receivable and the source journal. Finally, run the close tasks and confirm an unresolved reconciliation blocks period close.

• Invoices awaiting approval — Prepared invoices for independent Finance Manager decision.
• Open receivables — Posted, partly settled and disputed customer balances by due date.
• Orders awaiting approval — Commercial commitments that may require a credit decision before billing.

Follow invoice to cash. Review reports for outstanding exposure and reconciliation questions.