Here are the steps for invoice processing:
- Capture, general ledger (GL) code, and match supporting documents such as a purchase order and/or delivery receipt.
- Send invoices to authorized approvers to approve or reject invoices.
- Authorize and submit invoices for payment in a financial system.
What are the steps of invoice processing?
Definition & How to Process. Invoice processing involves the complete cycle of receiving a supplier invoice, approving it, establishing a remittance date, paying the invoice, and then recording it in the general ledger.
What is meant by invoice processing?
Invoice processing refers to handling a supplier invoice, from its receipt to when it has been posted in the ERP system and is ready for payment. Invoice processing is handled by the accounts payable (AP) department within an organization.
