Finance and collections

Accountant prepares Customer invoices from eligible shipment lines and accepted order value. Finance Manager independently approves the current invoice revision before posting. Due dates and outstanding amounts remain visible after partial settlement. Cash receipts represent actual customer money and first retain any unapplied amount. Cash applications consume both receipt capacity and invoice balance on their respective currency rates.

Supplier invoices follow accepted receipt matching. Payment runs and Payments distinguish a prepared instruction from bank acceptance and settlement. Bank statement lines supply external evidence for reconciliation; uncertain deliveries require reconciliation before retry. Journal entries preserve source identity, balanced lines and period assignment. Posted effects are corrected with reviewed linked reversals rather than editing history.

• Source. Keep the responsible entity, original document and current revision attached to the transaction.
• Decision. Send material releases and exceptions to the named reviewer with the exact scope and reason.
• Result. Record actual quantities and financial effects separately from plans and instructions.

Agree on fiscal periods, entity functional currencies, bank accounts, posting profiles and the owners of financial approvals. Reconcile opening receivables and payables to the opening journal before cutover. Decide how external bank statements and payment acknowledgments will arrive.

Agree on the entity period, bank account and rate evidence before posting the first invoice or receipt. Accountant prepares billing and cash allocation; Finance Manager independently approves billing, payment release and period close. Decide how bank statement lines arrive and who resolves uncertain payment acknowledgments. Rehearse with ordinary finance accounts.

Invoice one title-transferred delivery line, post it after independent review and apply only part of a confirmed receipt. Verify the remaining invoice and unapplied cash balances. Present an invoice for the same source scope again and confirm that it cannot bill the quantity twice. At close, reconcile bank, AR, AP, inventory and WIP tasks before approving revaluation.

Accountant should explain the posted invoice balance and the unapplied receipt balance after the partial allocation. Finance Manager should verify the title-transferred delivery scope behind the invoice and the current period before approval. At close, each reconciliation task must still point to current source evidence.

• Invoices awaiting approval — Invoices pending Finance Manager approval, with amount, dealer and due date visible.
• Customer balances — Posted and partly settled customer invoices with outstanding balances.

Follow the related process and review the data model.