Billing and Close

Accountant prepares an invoice from eligible title-transferred order scope. The invoice retains its currency, rate, period, tax and outstanding amount. Finance Manager independently approves it before posting. A cash receipt records actual customer money as unapplied cash first; Cash applications allocate bounded amounts to invoices with the required exchange-rate evidence. A payment promise alone cannot settle the receivable.

Supplier bills match accepted receipts before payment. Payment runs freeze the payable proposal and beneficiary basis for Finance Manager release. Bank statement lines and integration evidence distinguish submitted instructions from actual settlement. Period close tasks collect reconciliation evidence for cash, receivables, payables, inventory, transit and work in progress before the accounting period is closed.

• Source and scope. Keep each invoice tied to eligible title-transferred quantity, an open period, currency, rate and the original order scope.
• Decision and execution. Finance Manager approves invoices and protected payment decisions; Accountant posts and reconciles the underlying documents.
• Exceptions and correction. Apply only confirmed cash, match supplier bills to accepted receipts and leave unresolved bank outcomes on the close tasks.

Agree the entity ledger, tax treatment, currency rates and cutoff for each document. Finance Manager needs the eligible title quantity and frozen invoice totals before approval. Accountant should identify the bank statement source and the person who resolves uncertain payment responses. Close tasks must show outstanding inventory, transit and work-in-progress reconciliation.

Invoice a partly delivered operator order, receive less cash than the invoice balance, and apply only that confirmed receipt. Match a supplier bill to its accepted goods, release a payment, then reconcile the bank outcome. At close, check the unresolved delivery and payment exception remains visible in the right period.

Invoice only the title-transferred portion of a partly delivered order. Apply a smaller confirmed cash receipt and leave the balance open. Match the supplier bill to accepted receipt quantity, then reconcile the payment against the bank line before closing the period.

At cutoff, compare invoice outstanding amounts with applied cash and compare payment instructions with bank statement outcomes. A submitted payment cannot clear a bill on its own. Finance Manager should see the unresolved item and its source document before approving the period close.

• Invoices Awaiting Approval — Customer documents waiting for independent finance decision.
• Period Close Work — Entity reconciliation tasks and cutoff evidence.

Follow the related process and implementation before choosing the first operating cycle.