In the last article NET Genium ERP – Introduction to the Finance module we showed how to set up the Finance module correctly and explained how to work with issued invoices.
We will now get acquainted with the incoming invoices and the system of their approval. These manuals, together with links to explanations of the terms used, can also be viewed online on the Finance website.
Incoming invoices
The system for working with incoming invoices is in many ways very similar to the system for working with outgoing invoices. Therefore, less space is devoted in this article to explaining some of the steps than in the previous article.
1st step – create incoming invoice
Click on the “Finance” application group in the gray top bar. In the navigation area, click on the “Incoming invoices” application and the view page of the same name will open. In it, we click on the “New invoice” button. This will take you to the edit form for the new record of the incoming invoice. Here we fill in all the necessary information. However, invoice data, including its items, can easily be copied from an existing invoice using Picker's “Create copy from” (more about using Picker in the general help Edit forms). After selecting a certain invoice, all available invoice data will be filled in the new invoice as well. If we want to import a incoming invoice in ISDOC format, we will attach this invoice as “Attachment 1” in the “Attachments” section. After loading the invoice in the ISDOC format, the „Load data” button will be displayed, after which the fields of the electronic invoice data form will be filled in automatically.
2nd step – invoice editing
We enter the name of the supplier and his address. You must also create items for this invoice. Items represent specific services or products for which an invoice has been issued. Click on the “New item” button and go to the new item form. We enter the name of the item or select it from the lists of texts on the invoice. After any further specification and adjustment of the price and quantity of the item, we can save the item. If we have received an invoice with a large number of items, it is up to us whether we enter all the items honestly in the system or create one summary item for all at once. It is important to keep the correct total invoice amount. The breakdown of items alone is therefore not absolutely necessary, but it is nevertheless suitable for maintaining an overview of the overall structure of the invoice price.
We will save the invoice.
Settlement of invoice
On the “Dates” tab we define the method of payment of the invoice. By checking the “Mark for payment” box, the invoice will be included in the next mass order, which are created in the “Bank” application and whose function will be explained in the following article, see Mass generation of payment orders.
The actual settlement of incoming invoices takes place in a very similar way as in the case of outgoing invoices. Paid invoices are marked in green on the view pages, unpaid in red. On the “Settlements” tab, we can liquidate the invoice by assigning an advance invoice, bank payments, cash documents or settlements without a link. Bank payments can be created automatically using the PaymentService. As with outgoing invoices, it is not recommended to mark invoices as paid by filling in the “Paid” field. In this way, we do not change the balance of the cash register or bank account, and therefore also the cash flow statistics.
Approval of incoming invoices
Several approval processes/schemes can be created within the “Process settings” application, which is used to approve incoming invoices. These diagrams are pre-set approval templates containing the number of approvers, their specific names and, if applicable, a tree structure. The tree structure of users here determines the order in which the record will be processed by individual approvers (from top to bottom – from the first approver to the next).
With pre-set approval schemes, the user can quickly create approval requests without lengthy setup. If we open a certain incoming invoice, on the “Approval” tab we can create a request for approval according to a preset process/scheme. Select the required approval scheme and click on the “Create process” button. The approval request will be created automatically.
More about the approval process on the Approval page.
Contents of the next article
In the next article NET Genium ERP – Payment orders, payments and statements, we will get acquainted with payment orders, bank payments and statements in more detail within the Finance module.
Sincerely, Your NetGenium Team.