Invoice Life Cycle

An invoice stage describes the invoice life cycle. Invoice stages help track the invoice's life journey from creation to completion. In the FCX System we have several invoice stages. Each of the invoice stages is in different functionality and options.

Draft — the initial stage for invoices that have been created manually.

Everyone who has access to the 'VIM Invoice' reference can create an invoice at the draft stage.

All mandatory invoice requisite and allocation tables are available for editing in the draft invoice. You can also add a document, delete the invoice at this stage. It gives you time to work on the invoice and submit it when you're ready.

Pending — newly created invoice from Vendor email, from COD Purchases and from Recurring Bills. Submitted invoices also go through before they are validated.

This stage is for VIM Validators. The VIM Validator is an Employee with a corresponding role 'VIM Validator'. Only VIM Validators can make alterations in pending invoices.

The system will warn you and do not let you go to validated stage if:

• An invoice record is non-approved, which means that one of mandatory requisite (marked by *) isn't filled in.
• You have not filled allocation tables as required by invoice category and system constant 'Expense allocation mandatory’.
• Total allocation amount in the tables doesn't match the invoice's amount due.

As VIM Validator you check an invoice and validate it. At the same time, you can reject the invoice and notify the Vendor.

Validated — used after VIM Validator considers the invoice to be validated and ready to be sent for approval.

What happens when the invoice becomes validated.

• The invoice is closed from editing. Only certain fields can be changed: Amount due and Total, Allocation tables, Invoice number, Invoice Date, Payment terms.
• You still can add a document.
• The system calculates Approvers according to a certain rule. We show calculated Approvers on the 'approval' tab. Optionally, you can manually set First Level Approvers using the button 'Change Approvers' on the same tab. To delete manually assigned approvers, use 'Recalculate Approvers' button — it will restore auto-assigned Approvers.
• The final part is to send an invoice for approval. Use the appropriate button to change invoice stage to 'Under Approval'.
• Members of role 'VIM Approval Override' can move the invoice to the approved stage.
• Validator can return the invoice to the pending stage.

Under Approval — it is available to the Approvers to review the invoice.

VIM Validator can change the fields: Amount due and Total, Allocation tables, Invoice number, Invoice Date, Payment terms. Employees with the role 'Advanced VIM Approvers' can also make changes in PO/Financial allocation table.

We may have two levels of invoice approval. To make the invoice approved, each level should confirm the invoice. So, an Approver either approves the invoice or returns it to pending if the invoice should be rejected or edited. To view why the approver returned the invoice, you should look at the invoice's history.

However, an Employee with the role 'VIM Approval Override' can approve the invoice at any stage (Validated, Under Approval) and bypass all assigned approvers. Also, this Employee can return the invoice to the pending stage.

Approved — set by the Approver as confirmation that the invoice is correct and ready to be synced to QuickBooks.

Approved invoices are a trigger to start their synchronization.

Partially Paid, Paid and Cancelled statuses come from QuickBooks when we make reverse sync from QuickBooks to FCX. Read about synchronization with QuickBooks.

Rejected — used when a VIM Validator decides not to validate an invoice.

Rejected invoices are also closed from editing.

You cannot change the Invoice life cycle stage for a suspended Vendor.