Creating an invoice policy for the Invoicing module allows you to implement a set of rules for your supplier invoices and credit notes to adhere to when they're submitted.
How to create or edit an invoice policy
1. Click the Account Name > Admin.
2. In the Account Setup section, click the Policies subheading.
3. Go to the Invoices tab.
4. Click New Policy to create a new policy, or click the Edit icon on the right-hand side of the policy to edit an existing policy.
Note: You can also click the three dots icon and select Edit from the drop-down to edit the policy.
5. On the Details tab, name your invoice policy and add a description (optional).
You can also enable Auto-Approve by ticking the checkbox, so that invoices and credit notes assigned to a purchase request skip the approval process, after they have been submitted.
6. On the Invoices tab, turn on the rules that you require.
Block - Invoices and credit notes cannot be submitted if they break the policy rule. The policy issue must be addressed before the invoice or credit note can be submitted.
Warn - The user must review the system warning and click the Continue button to submit the invoice or credit note if they are happy to proceed. If not, the user must click the Cancel button to go back and make the required changes.
Report - No warnings are displayed to the submitter, but are visible to the Approver and Finance users.
Off - The policy rule does not apply. No warnings are displayed on the invoice or credit note.
7. On the Purchase Requests tab, turn on the rules that you require.
8. Click Create to add the policy to your account, or click Update to complete your amendments.
Note: There are only 3 policy rules which apply to credit notes, these policy rules can be found under the 'Invoices' tab when creating or editing your policy. These rules are as follows:
Customer name is present
Supplier VAT number matches
Duplicate invoice detection
You can hover over the red question mark next to each policy rule as a reminder for what each policy rule is for.
How to assign a policy to your suppliers
Once you've created your policy, you'll need to assign the policy to your suppliers.
1. In the Invoicing module, go to the Finance area.
2. Go to the Suppliers section and select the supplier(s) you want to assign an invoice policy to by ticking the checkbox(es) next to their name(s).
3. Click Actions and select Change Policy from the drop-down options.
4. Select the policy you wish to assign from the drop-down and click Update.
Alternatively, you can click the Edit icon next to each Supplier and assign the policy on an individual basis.