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- Revenue Recognition
- Process
- Invoice to payment follow-up
Invoice to payment follow-up
Billing Operations Manager prepares an invoice for a customer and adds the products and service periods on its lines. A line can point to a revenue schedule. That reference helps Revenue Accountant compare billed service dates with the recognition period, while Collections Specialist follows the receivable separately. The invoice retains a billing run and organization where applicable.
Step by step
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Prepare invoice Billing Operations Manager
Set customer, organization, dates and owner.
- Set customer, organization, dates and owner
- Updates Invoices
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Enter invoice lines Billing Operations Manager
Record product, quantity, price and service period.
- Record product, quantity, price and service period
- Updates Invoice lines, Products
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Link schedule Revenue Accountant
Relate billable detail to a revenue schedule.
- Relate billable detail to a revenue schedule
- Updates Invoice lines, Revenue schedules
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Record sent invoice Billing Operations Manager
After sending through the agreed channel, record the Sent invoice state.
- Record Sent invoice state
- Updates Invoices
-
Record payment Collections Specialist
Record amount, method, date and customer.
- Record amount, method, date and customer
- Updates Payments, Customers
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Follow balance Collections Specialist
Inspect amount paid, balance due and payment state.
- Inspect amount paid, balance due and payment state
- Updates Invoices, Payments
Who does what
Roles and permissions- Admin
- Maintains reference records; Revenue Accountant owns schedules; Billing Operations Manager owns billing; Collections Specialist follows receipts; FP&A Analyst prepares plans; Finance Approver records human decisions.
Set up Revenue Recognition your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.