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Regional Availability: Australia, India, Indonesia, Singapore, United States
Overview
After goods are received and invoices are generated for an approved Purchase Order (PO), payments can be made against the associated bill through Volopay. This article walks you through the steps to create and approve invoices, initiate payments, and track the payment status in the system.
Step-by-Step Process
Step 1: Go to Active Purchase Orders
Navigate to Procurement > Active to view all approved purchase orders.
Locate the PO that has already received goods (i.e., Goods Receipt Note (GRN) is attached).
Step 2: Add Invoice / Bill
Click on the PO line item to open its details.
Select Add Invoice to start adding invoice details.
Fill in Invoice Details:
Invoice Number: The unique identifier for the invoice.
Invoice Date: The date when the invoice was issued.
Vendor Name: The vendor providing the goods or services.
Amount: The total amount billed by the vendor.
Line Items: List the goods/services being billed.
Note: Volopay will automatically run a 3-way match between the PO, GRN, and Invoice. If there are any discrepancies (e.g., billing for items not received), you will be alerted to address the issue before proceeding.
Step 3: Submit the Bill
After filling in all the necessary invoice details, click Create Bill to finalize the bill creation.
The bill will then go through the Bill Payment Approval Policy (if one is set) for review and approval before it moves forward.
Step 4: Approval and Payment
Upon approval, the bill will move to the Payments section.
Navigate to Bill Pay > Scheduled / Unpaid to view the approved bill.
Select the bill and initiate the vendor payment via your preferred payment method (e.g., bank transfer).
Step 5: Payment Completion
Once the payment is successfully processed, it will be recorded against the Purchase Order.
The PO’s status will automatically update to reflect the payment status:
Fully Billed: If the total invoiced amount matches the PO.
Partially Billed: If only some items have been invoiced.