TABLE OF CONTENTS

• Invoices (VIM) Reference
  • Who has access to the reference
  • Insight into Invoice Card
    • Main tab
    • Allocation Tab
    • Approval Tab
    • History Tab
    • Actions in Invoice Card
  • Invoice Document

Invoices (VIM) Reference

'VIM Invoices' reference is the key element of Vendor Invoice Management.

Here we create new invoices, store invoices from Vendors, maintain records of invoices based on Recurring Bills, COD Purchases, or related to Inventory Transaction Journals.

Who has access to the reference

Employees of FSM Financial user group have full access to VIM Invoices reference and VIM Interface as well.

Insight into Invoice Card

Main tab

1. Invoice Name is filled out automatically. The name contains Invoice Number + Vendor Name + Invoice Date + Amount Due.

2. Vendor is available to select manually. It's autofilled when the system recognizes the Vendor email correctly and captures an invoice successfully.

3. Category is pulled in from Vendor, but can be changed manually. Learn more about Invoice Category.

4. Responsible is populated from Vendor Responsible Employee. The Responsible Employee can also be changed.

The system fills the Responsible Department by the Employee department. The Employee's department shipping address is fiiled in the field 'Ship To'.

5. Invoice Number and Amount

An invoice number is a unique number and can include both numbers and letters.

The number is specified automatically during the invoice generation process. In this case, the invoice number is equal to the reference record ID. However, you can set the number manually.

For invoices generated from a COD, the number format can be customized in the system setting/constant.

Total is not a mandatory field. If you do not determine the Total, it will be equal to Amount Due.  

Amount Due is a mandatory field. Amount Due should be completely allocated to financial accounts and expenses if the allocation is required.

6. Invoice Stage designates Invoice life cycle stage.

Each stage has a specific set of available features and actions.

7. Invoice Date and Payment Term

Invoice Date is set manually and can be also determined automatically for COD Purchases and Recurring Bills.

We take payment term from Vendor, or from COD Purchase, or from Recurring Bill. It depends on how we created the invoice.

Due Date = Invoice Date + Payment Term.

8. Class can either be filled in from the invoice capture service according to the settings, or manually, or according to Calculation Specification, or left blank.  

VIM Validator role support a Class filter, so if the Class filter is applied, then a VIM Validator see  VIM Invoices of a specific Class in the VIM Interface.

9. Memo

A memo is defined by Invoice Category. We can print in the memo some general VIM Invoices reference requisites: VIM Invoice Card URL Link. Plus, we can pull in requisites from Build Plans allocated to this VIM Invoice, for example, Build Plan Names, Site IDs.

You can enter some custom Memo. This way, the checkbox “Custom” shows manually entered Memo.

10. Invoice assignment — COD Purchase, Recurring Bill, Inventory Transaction, Asset.

If the Business Purposes in COD Request require transformation to VIM Invoice, the system will create an invoice after submitting the request.

As for recurring bills, the system generates invoices according to a payment schedule. When it comes due to Invoice next date.

To assign an Inventory Transaction to an invoice you should select the transaction. Do the same with the asset.

11. Description — COD details, Vendor invoice email details.

12. Invoice synchronization info

If you use Quickbooks and VIM Invoices sync is turned on, here we will show payment details after sync Invoices to QuickBooks.

You can indicate manually that the paid invoice has an invalid amount using the box “Amount Paid is not equal Amount Due”. Once you check this box, the Invoice will disappear from the list of invoices in the VIM Interface.

13. Comments from VIM Validators, Approvers; some notes.

Allocation Tab

1. Single Build Plan for allocation is used to assign the invoice amount to one Build Plan. Single Build Plan will apply for each line in both FCX Allocation and Expense Allocation tables.

2. PO distribution settings

‘Use PO distribution’ checkbox allows associating an invoice with Vendor Purchase Order. The checkbox is active if the invoice category requires PO distribution. At the same time, you can change the checkbox state against invoice requirements.

'Fill out from PO' button will show you all purchase orders filtered by Vendor from the invoice. Click on the button and select VIM PO, if the invoice expects PO distribution.

3. FCX Allocation table

We use this table to record the company's transactions to the right Financial Accounts and Build Plans. Relying on a specific priority, the system fills in default Build Plans and Financial Accounts.

The represented priority mapping is applicable if the Invoice Category requires PO or Financial distribution.

4. Use Service Item Distribution. This setting controls the type of allocation in the Expenses table. It is populated according to the system constant and an assigned build plan.

Therefore, if we use service item distribution in the VIM invoices (the constant is yes), and a Direct Cost Build Plan is set in the financial distribution table (or as a single BP for allocation), then the checkbox is selected. It blocks the accounts allocation and requires the service items, if no defaults are taken from a Vendor, Invoice Category or Purchase Category (for invoices based on a COD).

You can always uncheck the box to use the allocation by accounts instead of the service items.

5. Fill Distribution from PO

Click the link to fill the Expense Allocation table from the associated PO (the PO you added to the on the table above).

This will clear the default expense allocation set by a Vendor or invoice category and pull a service item or an account (depending on the distribution type) from each PO line.

The action is only available if the Use PO Distribution checkbox is selected and the invoice hasn't been validated..

6. Expense Allocation table

Fill this table to organize a record of expenses with itemized details and map to correct accounts in the accounting system.

Just like financial accounts, expenses have a default allocation. We automatically assign zero amount to expenses from Vendor and Invoice Category. 

The priority of expense allocation is given by Recurring Bills, COD Purchases, Vendor record, and finally Invoice Category.  You can change expenses allocation for draft invoices and pending invoices.

If you use the Service Items distribution → fill in corresponding items in the Expenses table.

The system will delete zero allocations when the invoice moves to validated stage.

Some clients assign Classes to Build Plans. That way, we toggle on the system setting to fill in Class in the expense table from the allocated Build Plan. The assigned class will be synced to QuickBooks together with expense table data.

7. Clear Expenses

The button deletes lines in the Expense Allocation table. You can clear expenses only for invoices in ‘Draft’, ‘Pending’ stages.

Approval Tab

On the 'Approval' tab you can monitor the process of invoice approval. The approval history is available only after sending an invoice for validation. Same deal with Approvers. To calculate approvers for draft and pending invoices click on ‘Recalculate Approvers’ button.

‘Change First Level Approvers’ and 'Clear First Level Approvers' buttons are accessible only for invoices in ‘Validated’ stage.

History Tab

We write in history all changes about invoice stage and invoice approvers.

Actions in Invoice Card

1. Find duplicates — click to search for similar invoices. Searching is by Vendor + Total Amount + Invoice Date.

2. Open Financial Distribution — opens Financial Distribution linked to the invoice. The system creates Financial Distribution as per invoice category settings when the invoice moves to the validated stage. 

3. Reject — to change back invoice to pending stage. Here, you can also send notification to Vendor or selected employees about the Invoice rejection. Select employees and use the checkbox “Notify Vendor” on sending rejection comments.

4. Return to pending — to change back under approval or validated invoice to pending stage. 

5. Recalculate Approvers — calculates invoice approvers according to approval process configuration. Learn more about approval process.

6. Submit — moves invoice to pending stage. 

7. Validate — to change invoice stage to validated. 

8. Send for approval — moves invoice to under approval stage.

9. Approve — to set ‘approved’ to invoice.

10. Validate and Approve — to set ‘approved’ to invoice if the invoice category allows approval by Validator 

11. Force Approve — option for members of VIM Approval Override role to set 'approved' stage at any point of the approval process.

Read more about VIM invoice life cycle.

Invoice Document

A VIM Invoice can contain multiple documents. When you attach documents to the VIM Invoice, the system creates a document in FCX and links the document to the Invoice. It fills in the appropriate requisite “VIM Invoice” in the document card. The document counter in the Invoice card shows the number of documents related to the Invoice.

As for invoices created from the Vendor, the capture service creates a new invoice for each document attached to the Vendor email. However, you can always add another document to the Vendor invoice using the corresponding option in the Invoice card — attach documents.

Learn more about capture service.

Users of the group FSMFinancial have full access to VIM invoice document.

In related documents we show all documents (captured from Vendor email, added manually) linked with the Invoice.