Line Level Invoicing and Invoice Attestation for Purchase Orders

August 31, 2023
Robert Marney
Line Level Invoicing & Attestation: order items invoicing report | Current SCM software screenshot

We are excited to announce we have launched enhanced invoicing functionality within Current SCM! The system now supports tracking and cost allocations at the line-level (of the Purchase Order, Service Order). In addition, we have launched an approval workflow to support the invoice attestation process.

Simple or Detailed, You Can Choose:

Current SCM supports both a simple, and detailed process for tracking invoices:

  • Simple Invoices: The simple method does not track invoicing at the line level, only against the overall order. This is a good use case where your organization would like to move rapidly and do not require a more structured process.
  • Detailed Invoices: This method supports allocating value of invoices towards specific (or all lines). This type of invoice allows for semi-automated invoice attestation by automatically highlighting cases where invoice amounts exceed the value of the received goods or services, or where invoice amounts exceed the commitment.
Line Level Invoicing and Invoice Attestation for Purchase Orders

Advantages of Detailed Invoicing:

  1. Less chance of overpayment: The system can essentially handle your approvals short of pressing the approve button. It will advise the reviewer of any lines where the invoiced amount exceeds the committed (agreed) value, or where the invoice intends to pay for more than the value of the goods received in the system. This facilitates receipt matching which is a critical control point.
  2. Improved Reporting / Budgeting: By tracking invoicing at the line level the system will be able to report in far more granularity. You will have line of sight of the planned, committed, and invoiced cost at the line level, and through roll up to the general ledger account (cost code). This will allow procurement managers to make more informed decisions as the project evolves.
  3. Faster dispute resolution: In case of any invoicing discrepancies or disputes, tracking invoicing at the line level allows for faster resolution. The system can easily identify the specific line item in question and facilitate communication between the purchaser and supplier to resolve the issue.

Quick Actions:

While the additional data provided by tracking detailed invoices is extremely valuable, we wanted to ensure we wanted to minimize the data-entry burden on our users. With that in mind we have add a number of helpers to automate the allocation of the invoice value against the lines:

Line Level Invoicing and Invoice Attestation for Purchase Orders

Percent Invoicing

This action will apply a specified percentage across all lines. This is useful for milestone payments, or deposits.

Full Payment Invoicing

Automatically pay only the unpaid value against the committed value of the order.

Sequential Invoicing

The total invoice value will be applied sequentially to lines items (against their commitments) until their balance reaches zero or the remaining amount reaches zero.

Invoice Attestation

Invoice attestation refers to the process of verifying and approving invoices before they can be paid. It is an important step in the procurement process to ensure that vendors are paid accurately for the goods or services they have provided, and that the payment is approved by the appropriate personnel within the organization.

The invoice attestation process involves a review of the invoice to ensure that the goods or services have been received and meet the specifications of the purchase order. Once the review is complete, the invoice is forwarded to the appropriate approver, who verifies that the invoice is accurate and approves it for payment.

Line Level Invoicing and Invoice Attestation for Purchase Orders

The invoice attestation process helps to prevent errors and fraud, and ensures that vendors are paid in a timely and accurate manner. It also provides an important record of transactions that can be used for auditing and reporting purposes.

New Reporting

Our new Order Items Invoicing Report provides a project-wide look at the invoice status at the line level to help your team keep on top of its commitments and ensure control, and accurate cost projections.

Order Items Invoicing Report
Order Items Invoicing Report

The Current SCM team is really excited to get this functionality into the hands of our users. We feel the ability to support in application invoice attestation will further enhance Current SCM as the best procurement system for project based organizations.

Engaged in Complex Procurement?

Current SCM is a cloud-based software that streamlines the process of project-based procurement & materials management and drives collaboration among project stakeholders. The term “project” can be defined as a construction project or a manufacturing project, or it can simply represent the way a business organizes their procurement (e.g., by project, program, product, client, division, business unit, region).

Current SCM offers a unique platform to manage the end-to-end process of project-driven supply chain management, including support for the planning, procurement, and management of both materials and services. Current SCM includes a robust set of project-based toolsets, including Project Planning, Material Planning, Service Planning, Vendor Document Requirements Management, Requisition Management, Bid Management, Purchase Order Management, Service Order Management, Material & Document Tracking, Inspection Management, Vendor Invoice Matching, Project Inventory Management, Project Asset Management, and more!

And Current SCM excels in accommodating diverse project requirements with unrivaled flexibility & control, including project-specific User access & permissions, cost structures, business rules, approved vendors, workflows, terms, reports, and much, much more!

If you engage in any of Project Procurement, Technical Procurement, Direct Procurement, or Third Party Procurement, Current SCM will optimize your procurement & materials management workflow. If you engage in all four, Current SCM will revolutionize the way you do business.

Contact the team at Current SCM today to learn more!