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Feature · Finance
Example screen with sample data
Finance
Approve source-backed invoices and reconcile cash, supplier obligations and entity periods.
OverviewInvoices Awaiting Approval×
FMCG ERP · Finance
New
Invoices Awaiting Approval
Approval waits for the finance manager
| Invoice number | Dealer | Entity | Total amount | Status | Due date | |
|---|---|---|---|---|---|---|
| INV-46005 | DLR-7956 | ENT-2231 | 40 | Pending approval | 05 Oct | |
| INV-68309 | DLR-3592 | ENT-3619 | 880 | Pending approval | 23 Oct | |
| INV-68146 | DLR-2775 | ENT-8917 | 190 | Pending approval | 17 Oct | |
| INV-46219 | DLR-8246 | ENT-8499 | 60 | Pending approval | 27 Oct | |
| INV-24311 | DLR-1321 | ENT-4973 | 160 | Pending approval | 23 Oct |
6 of 6 records
DLR-7956Invoices · INV-46005
Pending approvalEntityENT-2231
Total amount40
Due date05 Oct
What you can do
Keep financial evidence tied to operations
Accountant prepares customer invoices from eligible title-transferred order quantities. Finance Manager independently approves the current invoice revision. The review checks party, entity, currency, period, exchange rate, totals, tax treatment and the remaining unbilled source. Partial shipments and delivery-title terms can make a posted order only partly eligible for billing.
Supplier bills follow accepted receipt scope and a match that reserves each quantity once. Cash receipts represent actual customer money; an application consumes eligible unapplied cash and an invoice’s open amount within the retained currency basis. Payment release for a supplier has separate bank and authority checks. A prepared instruction is not a bank settlement.
How the work is organized
- Billing. Accountant prepares an invoice linked to eligible delivery and accepted net allocation; Finance Manager decides release.
- Collection. Actual cash is recorded and then applied to specific invoices without exceeding remaining receipt or invoice balances.
- Close. Accountant reconciles bank, receivables, payables, inventory and interfaces before Finance Manager approves period close.
What to agree during setup
Set each entity’s functional currency, fiscal periods, chart of accounts, posting profiles and approved rate sources. Decide who may prepare invoices, who independently approves them and which exception amounts need Finance Manager review. Bank account details and supplier destinations require protected access. A received bank statement line should remain external evidence until matched and reconciled.
For month end, agree the cutoff, close-task owners and required evidence. Revaluation uses approved rates and a reviewed basis. Corrections to posted work use linked reversal or correction records rather than editing the original journal. If a bank return arrives after application, reconcile its actual effect through the correction path.
Check the handoff on an actual case
An order ships in two parts under delivery-title terms. The first accepted delivery creates an eligible invoice portion; the still-transit units do not. Accountant prepares that invoice and Finance Manager checks its source, amount, period and rate before approval. The invoice posts to receivables and the proper entity ledger.
A customer payment then arrives. Accountant records the cash receipt and applies part of it to the posted invoice. The remaining unapplied cash stays visible. A repeated bank event must not create another receipt, and an attempted application beyond the available amount must fail. At close, Accountant checks the bank statement, open invoices and unapplied cash, then Finance Manager reviews the period decision.
What your team sees
- Invoices Awaiting Approval — Prepared billing documents awaiting finance decision.
- Unapplied Customer Cash — Posted receipts with remaining value to allocate.
Follow the work through
Continue with invoice to cash and purchase to accepted stock.
What it keeps track of
Data model- Invoices
- Local customer debit/credit documents with mandatory independent Finance Manager approval.
- Invoice lines
- Exact unbilled title-transferred accepted price allocation or original credit scope.
- Cash receipts
- Actual customer cash recognized once to unapplied liability before invoice allocation.
- Cash applications
- Cross-currency cash allocation consumes both receipt and invoice scope atomically.
- Bills
- Local supplier debit/credit documents with matching, carrying and separate settlement.
- Bill matches
- Reserve and consume accepted receipt versus bill quantities/value once.
- Payments
- One economic supplier disbursement with authoritative settlement/rejection/return evidence.
- Payment runs
- Frozen payable settlement proposals and protected beneficiary snapshots.
- Bank statement lines
- Actual external bank evidence, not inferred payment success.
- Accounting periods
- Entity-specific fiscal periods and guarded close.
- Close tasks
- Current source reconciliation evidence for an entity cutoff.
- Journal entries
- Balanced entity-functional journals with source identity and immutable postings.
- Journal lines
- Nonnegative debit/credit magnitudes, one side per line, balanced in functional precision.
- Revaluation runs
- Delta remeasurement of entity monetary balances after reconciliation, not presentation consolidation.
- Finance corrections
- Independent reviewed reversals, bank returns, write-offs and charges without editing posted history.
Who uses it
Permissions- Accountant
- Prepares and reconciles financial records.
- Finance Manager
- Independently approves invoices, payment release and close decisions.
- Sales Manager
- And Warehouse Manager supply commercial and physical source evidence.
Set up FMCG ERP your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.