Invoice, cash and close

Step by step

1. Billing basis Accountant

   Accountant identifies eligible title-transferred order quantity and the approved net and tax allocation for that scope.

   • Identify eligible billed scope
   • Updates Sales allocations, Shipment lines, Invoice lines

2. Invoice approval Finance Manager

   Finance Manager reviews the frozen invoice, dealer, currency, rate and open period independently.

   • Authorize current invoice revision
   • Updates Customer invoices, Approvals
   ApprovalA person approves before the work moves on.

3. Receipt Accountant

   Accountant records actual customer money with its source and unapplied balance, then reconciles it to the bank statement.

   • Record actual money and bank match
   • Updates Cash receipts, Bank statement lines

4. Application Accountant

   Accountant reserves no more than available unapplied cash and allocates it to the intended open invoice.

   • Reduce intended receivable
   • Updates Cash applications, Customer invoices

5. Payables and payment Accountant

   Accountant matches supplier bills to accepted supply and prepares a run; Finance Manager approves release.

   • Prepare and release supplier settlement
   • Updates Supplier invoices, Match exceptions, Payment runs, Payments
   ApprovalA person approves before the work moves on.

6. Period close Accountant

   Accountant completes source reconciliations and revaluation. Finance Manager approves the guarded period close.

   • Reconcile and guard cutoff
   • Updates Close tasks, Revaluation runs, Journal entries, Accounting periods
   ApprovalA person approves before the work moves on.

Accountant

Prepares documents, applications and reconciliation.

Finance Manager

Independently approves invoices, payments, revaluation and period decisions.

Sales Manager

And Warehouse Manager explain their source transactions where needed.