Steps in the AP Invoice Process
- Create Invoices Automatically
- Invoices are automatically generated following the confirmation of the receipt process.
- Use the Finalize Receipt screen for direct materials and the General Receiving screen for indirect materials and services.
- The system specifies the invoice date automatically (usually the current date).
- Create Invoices Manually
- This is an option when an invoice is not generated automatically.
- Details such as invoice number, amount, and date must be specified manually to process the invoice.
- Create Recurring (Memorized) Invoices
- These are useful for repetitive payments like rent or subscriptions.
- The system creates recurring invoices based on pre-defined templates and schedules.
- Create Invoices by Picking a Receipt
- Users can manually select specific receipts tied to purchases and generate corresponding invoices.
- Create Invoices by Picking Consignments
- Similar to the above, users pick consignment records to create invoices that align with consigned goods or services.
Create Invoices Using Upload
- Invoices can be bulk-uploaded into the system using predefined templates.
- This is efficient for high volumes of transactions.
Flowchart:
Best Practices for the AP Process
- Accuracy in Data Entry: Ensure that all invoice details (e.g., invoice number, date, and amount) match the physical invoice or receipt.
- Utilize Automation: Whenever possible, rely on automated invoice creation tools to reduce errors and improve efficiency.
- Standardized Templates: Use consistent templates for invoice uploads and recurring invoice setups.
- Regular Reconciliation: Frequently compare invoices to receipts and purchase orders to verify accuracy and avoid discrepancies.
- Compliance and Documentation: Maintain compliance with internal policies and keep all supporting documents organized for auditing purposes.
- Clear Approval Workflow: Ensure there is a clear and efficient approval process for invoices to avoid delays.