Finance

• Billing. Customer invoice lines claim only unbilled eligible shipment scope. Supplier bill lines reserve unused accepted receipt quantities and distinguish price differences from inventory value.
• Settlement. Actual cash receipts, bank statement lines and payment outcomes support applications. A prepared instruction or ambiguous provider response does not establish settlement.
• Close. Close tasks, revaluation and balanced journal entries support a guarded entity-period close. Corrections link to the original source rather than rewriting it.

Each entity has its own functional currency and period. A transaction rate, settlement rate and closing rate serve different purposes. Reports should retain party currency and cutoff so an apparent total does not conceal an unresolved conversion or unapplied balance.

Review chart of accounts, posting profiles, tax treatment, exchange-rate sources and bank accounts. Assign Finance Manager as the independent decision maker for invoice, payment, refund, revaluation and period exceptions. Accountant prepares documents and reconciliations, but cannot treat their own preparation as independent approval.

Plan the bank statement and payment-provider connections. Preserve the exact economic key of an outbound instruction; after a timeout, reconcile before retrying. Protect supplier beneficiary versions and restrict bank details. Decide the opening cutoff for receivables, payables, stock and ledger migration.

A dealer receives part of an order and the accepted delivered quantity transfers title. Prepare an invoice for only that unbilled scope. Finance Manager reviews the customer, currency, open period, tax evidence and total before approval. Posting should create a balanced journal and leave the remaining order quantity unbilled.

Record an actual bank receipt, then apply part of it to that invoice. The remaining cash stays unapplied; another application cannot consume it twice. Reconcile the bank statement line to the receipt. For the supplier side, match a bill to accepted goods only, then release a payment against a protected beneficiary and recognize settlement from actual bank evidence.

At cutoff, work through open bank, receivable, payable, stock, transit and work-in-progress tasks. Review revaluation and exceptions before closing the period. If a posted mistake is found later, use an independently reviewed correction and keep the old posting available for audit.

• Invoices awaiting approval — Prepared customer invoices with customer, amount and due date.
• Unapplied customer cash — Posted receipts with an amount still available for allocation.
• Period close work — Reconciliation tasks that need completion or review.

Review financial settlement and close and the reports.