Travel and expense invoice statuses

There is a great significance in Procountor's invoice statuses. They dictate when an invoice can be modified and how invoices appear in reporting. The process of travel and expense invoice statuses is discussed in this article.

 

Travel and expense invoice statuses

 

 

Status descriptions

Not saved

• The receipt is in status not saved until it is saved for the first time.

 

Received

• When the Mark complete button is selected, the invoice status becomes Received.
• It opens the window Confirm sending to circulation, where can be selected whether to send the invoice to circulation or not (alternatives Yes or Cancel).
• The invoice status corresponds to the status Unfinished of a of an entered invoice.
• The invoices must be approved separately (Receipt search button Verification) or transferred directly to payment as other invoices.
• An invoice in status Received will not be included in reporting provided for in the Accounting Act nor in VAT reports.
• It will be included in reports, concerning all transactions.

 

Unfinished

• An unfinished invoice can be complemented and changed, and it can also be invalidated.
• When editing an invoice, accounting entries that were made by hand are deleted and they are refreshed based on the default postings.
• An unfinished invoice will not be included in reporting provided for in the Accounting Act or in VAT reports.
• It will be included in reports, concerning all transactions.

 

Verified

• The company can establish a policy that all invoices must be verified before approval and payment.
• Read more about invoice approval circulation here.
• In small companies, this function is often unnecessary.
• A verified invoice is contrasted to an unfinished invoice and is not included in reporting provided for in the Accounting Act nor in VAT reports.
• It will be included in reports, concerning all transactions, and in accounts payable.

 

Payment denied

• When an invoice will not be paid for the time being due to a claim or some other reason, it can be marked in status Payment denied (Go to > Verification > Exception > Deny payment).
• The invoice will, however, be included in reporting.
• When you want to cancel the ban, you must first return the invoice to status Approved (Go to > Verification > Approve).
• After Approving the invoice it can be set to status Unfinished by Exception > Unfinished
• If you also want to invalidate the invoice after this, you can do it by clicking the Exception button, selecting Invalidate.

 

Invalidated

• The invoice was created wrongly and was therefore invalidated.
• The invoice has no accounting entry.
• The invoice can be displayed in the system and used for creating a new invoice by copying.
• It will only be included in Receipt search and reports if the user wants to show invalidates invoices.

 

Approved

• A company can establish a policy that all invoices must be approved before payment.
• Read more about  invoice approval circulation here.
• If you want to further edit or invalidate the invoice after approval, you can change the invoice status from Approved to status Unfinished in Receipt search button Verification.

 

Paid

• The payment executed by the bank has been updated automatically by the electronic bank statement.

 

Paid elsewhere

• The invoice has been marked paid by the user.
• The marking is made when the invoice has been paid outside Procountor payments, for example in the bank’s payment service, by card or in cash.
• The status is used when setting off an invoice and credit invoice or a invoice against another invoice.
• The Paid elsewhere marking is also used when the payment transaction in the bank statement does not allocated to the existing invoice.
  • This can happen for example if the invoice is paid with a different reference number.

 

Payment queued

• A person with payment rights can transfer an invoice to be paid automatically from Procountor.
• Payment can be performed for invoices in statuses Unfinished, Received, Verified, Approved or Partly paid.
  • Approval circulation specifies in which status the invoice can be paid.
• The receipt is queued until the payment data transfer on the due date.

 

Payment sent to bank

• The queued payment is automatically transferred to the bank on the payment date.
• The invoice status is automatically changed to paid when the payment transaction can be seen in the bank statement which arrives to Procountor and the software recognizes the transaction and allocates it to the right invoice.
• If the bank has detected an error in payment (e.g. insufficient funds for payment) or change in data (e.g. beneficiary’s bank account changed), the status is not changed.
• If you want to set the invoice to payment again, you have to return it to the previous status.
• The user must check the execution of the payment in the bank statement.
• If the payment was actually executed, you can change the invoice status to Paid with for example bank statement allocation.

See here in detail how to proceed when you want to cancel the Payment queued or Payment sent to bank status.

 

Partly paid

• The invoice has been paid partially and the partial payment is automatically updated by the electronic bank statement.
• When the invoice will be paid fully, its status will be changed to Paid.