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Feature · Finance
Example screen with sample data
Finance
Reconcile invoices, supplier bills, cash, payments and entity periods.
OverviewInvoices Awaiting Approval×
Music Rights Management · Finance
New
Invoices Awaiting Approval
Approval conditions
| Invoice number | Dealer | Net amount | Tax amount | Total amount | Status | |
|---|---|---|---|---|---|---|
| INV-27181 | DLR-7982 | 130 | 640 | 660 | Pending approval | |
| INV-81450 | DLR-6276 | 660 | 670 | 900 | Pending approval | |
| INV-28252 | DLR-8500 | 770 | 950 | 130 | Pending approval | |
| INV-57368 | DLR-2053 | 870 | 450 | 860 | Pending approval | |
| INV-38904 | DLR-9264 | 910 | 340 | 880 | Pending approval |
6 of 6 records
DLR-7982Invoices · INV-27181
Pending approvalNet amount130
Tax amount640
Total amount660
What you can do
Finance in daily work
Finance works from accepted operational evidence. Customer invoices consume eligible delivered or dispatched title scope; supplier bills match accepted receipts. Cash and supplier payment instructions remain separate from bank settlement evidence. Each entity has its own currency, period and ledger, so one company’s result is not silently included in another’s books.
How the work is organized
- Billing. Prepare debit or credit documents against the eligible source quantity and retain their rate, tax and posting period.
- Settlement. Apply actual customer cash to an invoice and release bounded supplier payment instructions with the protected beneficiary.
- Close. Reconcile bank, receivables, payables, inventory and other source tasks before period approval.
What to agree during setup
Set each entity’s functional currency, posting accounts, tax treatment and period calendar. Assign the accountant who prepares records and the finance manager who independently approves invoices, payment release and period close. Define the bank statement connection and how uncertain outbound instructions are investigated. A sent payment instruction alone does not mean a bank settled it. Preserve current exchange-rate evidence for transactions and settlement rather than filling in an unreviewed rate.
Check the handoff on an actual case
Use a partial dealer delivery and its matching supplier receipt. The accountant prepares the customer invoice only for title-transferred, unbilled quantity. The finance manager checks the current invoice revision, amount and open period before approval. The accountant matches the supplier bill against unused accepted receipt quantity, recording any price or rate variance. Neither document consumes the full original order just because it was partly fulfilled.
Record a customer receipt and allocate only available unapplied cash after other reservations. Reconcile it to external bank evidence; a repeated event must not create another economic receipt. Prepare a supplier payment run and release it through the finance decision, then wait for authoritative settlement or rejection. At cutoff, review close tasks against their source evidence and approve the period only when remaining exceptions have an explicit resolution.
What your team sees
- Invoices Awaiting Approval — Shows prepared invoices waiting for the Finance Manager’s decision.
- Payments Awaiting Release — Shows supplier runs awaiting release with their payment date.
- Period Close Work — Keeps open and review-required cutoff tasks visible.
Follow the work through
Follow the related process and the data model when rehearsing an actual case.
What it keeps track of
Data model- Invoices
- Local customer debit/credit documents with mandatory independent Finance Manager approval.
- Invoice lines
- Exact unbilled title-transferred accepted price allocation or original credit scope.
- Bills
- Local supplier debit/credit documents with matching, carrying and separate settlement.
- Bill lines
- Supplier charges matched to accepted receipts, with explicit nonstock exceptions.
- Bill matches
- Reserve and consume accepted receipt versus bill quantities/value once.
- Cash receipts
- Actual customer cash recognized once to unapplied liability before invoice allocation.
- Cash applications
- Cross-currency cash allocation consumes both receipt and invoice scope atomically.
- Payment runs
- Frozen payable settlement proposals and protected beneficiary snapshots.
- Payments
- One economic supplier disbursement with authoritative settlement/rejection/return evidence.
- Bank statement lines
- Actual external bank evidence, not inferred payment success.
- Journal entries
- Balanced entity-functional journals with source identity and immutable postings.
- Journal lines
- Nonnegative debit/credit magnitudes, one side per line, balanced in functional precision.
- Close tasks
- Current source reconciliation evidence for an entity cutoff.
- Accounting periods
- Entity-specific fiscal periods and guarded close.
Who uses it
Permissions- Accountant
- And Finance Manager own the work and its independent decisions within their assigned scope.
Set up Music Rights Management your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.