Finance and collections

Accountant prepares customer invoices, receipt allocation, supplier payments and close evidence. Finance Manager independently approves financial release and period decisions for each entity.

Customer Invoices link billable lines to eligible title-transferred shipment scope and retain due date, outstanding balance and currency. Cash Receipts hold actual money before Cash Applications allocate it to invoices. Payment Runs hold supplier payments for Finance Manager review; Payments retain submitted, uncertain and settled outcomes. Close Tasks reconcile source balances before the Accounting Period closes.

• Prepare. Tie an invoice to eligible title transfer, currency, rate and open period.
• Decide. Finance Manager independently approves invoices, payment releases and close.
• Record. Apply only available cash and reconcile bank evidence before settlement.

Agree entity books, open periods, exchange-rate evidence, bank accounts, posting profiles and the boundary between preparation and approval. Rehearse a partial receipt, a payment with uncertain external outcome and a correction to a posted invoice. Do not treat a sent payment instruction as settlement evidence.

A dealer pays one invoice in part. Accountant records the actual receipt and allocates only available unapplied cash to the correct invoice. The invoice remains partly settled with its outstanding amount visible. At period end, Accountant reconciles bank and receivable evidence; Finance Manager reviews unresolved tasks before approving close.

At the handoff, the receiving person checks the source record, approval and remaining quantity. The team keeps the exception with its owner until the actual result is recorded.

Before approval, Finance Manager checks the invoice against eligible title-transferred quantity and the open period. Accountant records the customer receipt against bank evidence, then applies only the amount still available after earlier allocations. If a dealer pays less than billed, the invoice keeps its outstanding balance. For supplier payments, a released run records authority to send instructions; Accountant follows the external settlement result separately. Close tasks show which source balances still need review before Finance Manager authorizes the period decision.

• Invoice approval inbox — Prepared invoices awaiting Finance Manager approval.
• Open customer balances — Posted and disputed invoices with outstanding amounts.

Follow the related process and use implementation to plan a representative operating cycle.