Finance

Approve billing from actual eligible fulfillment

Accountant prepares customer invoices from unbilled, title-transferred fulfillment quantities and their accepted net amounts. Actual store or pickup handover, or carrier dispatch, establishes the stock and title event. Later delivery confirmation creates no additional billable quantity.

Independent Finance Manager approval is mandatory for each invoice and credit note. The review binds the exact source allocations, tax evidence, currency, period and current revision. A material change invalidates the earlier decision.

Invoice posting records receivables, revenue and tax. Actual fulfillment already recognized stock cost, which is not charged again. A customer credit reverses its original eligible net and tax into customer credit, which remains separately available for application or refund.

Reconcile purchases at their original accrual

Independently accepted receipts recognize standard inventory, receipt accrual and applicable purchase variance. Supplier bills consume their allocated posted acceptance tranches and clear that original accrual. The bill’s price or rate difference remains identifiable without another full inventory debit.

Accountant matches the supply evidence; Finance Manager reviews mismatches and non-PO exceptions. Recoverable and nonrecoverable purchase tax follow their configured treatment. Missing evidence cannot be replaced by a zero tax rate or a fabricated goods receipt.

Supplier credits retain their original bill, return and commercial basis. Current stock carrying value may differ from the commercial credit after standard revaluation, so the difference needs its explicit financial treatment.

Release payments against confirmed outcomes

Accountant prepares the supplier, bill allocations and protected beneficiary version. Independent Finance Manager releases the run within current authority, excluding preparation and any incompatible earlier bill decision.

An acknowledgment does not mark a bill paid. Authoritative settlement posts bank, payable and applicable currency effects once. Pre-settlement rejection releases reservations after reconciliation; uncertainty retains them until execution is known.

Returned payments need reviewed cash and allocation correction. Uncertainty cannot trigger another payment. Beneficiary changes invalidate affected unsent authorization.

Explain currency, credits and refunds

Settlement releases the current carrying value, including prior revaluation. The new exchange difference and reclassification of prior unrealized exchange are distinct, preventing another net gain from an amount already recognized. Bank disposal has its own carrying basis, separate from the payable being settled.

Every refund needs independent Finance Manager authority and one eligible source. A customer-credit refund cannot also reduce the original cash receipt; an unapplied-cash refund consumes only that remaining cash source. Supplier prepayments clear into AP without another bank payment. Processor payouts reconcile gross clearing, actual net bank, fees and reviewed adjustments once; they create no additional revenue or customer receipt.

Close on reconciled production and financial balances

Finished output enters stock at the released standard. Completion relieves allocated actual WIP and posts approved nonzero variance immediately; close cannot repeat it. Accountant reconciles remaining WIP, stock, bank, AR, AP, accrual, tax, credits and interfaces at cutoff. Revaluation uses each remaining monetary source once; its subledger detail and control total are not both revalued.

Finance Manager reviews required exceptions and closes the entity period only with current evidence. Changed source populations invalidate stale completion. Migration follows one opening ledger with nonposting detail, preserving prior quantities and settlements without replaying their financial effects.