There are currently four different AP Invoice status codes that are supported in the StreamV System. These codes are “A” or active, “S” or submitted, “I” or In Transit, and “R” or received. The first two of these status codes (A and S) can be used during manual Accounts Payable Invoice Entry. The other two status codes (I and R) are used primarily by the ASN (Advanced Shipment Notification ) system.
This section describes the Active and the Submitted status codes that can be used during manual AP Invoice Entry. The ASN system (which is used to automatically process vendor invoices for inventory purchases) is described in detail in a later section of this document.
• Active or status “A” invoices are accounts payable invoices that have been completely distributed to the general ledger, or have been matched to the inventory receiving and or vendor shipment transactions associated with the invoice (if applicable).
• Submitted or status “S” accounts payable invoices are invoices that have been entered into the Accounts Payable Register file, but that have not been distributed to the general ledger or matched to any associated inventory receiving or vendor shipment transactions for the vendor. The Submitted status allows you to record the fact that an invoice has been received from the vendor, and to record basic information about the invoice, without posting the invoice to the accounting system. This option allows an invoice to be circulated for any required approval signatures, or for the distribution details for the invoice to be determined while still making sure that the invoice is recorded in the system.
During AP Invoice Entry, the system will default each new invoice to Active status, and it will require the operator to completely distribute the total amount of the invoice to valid general ledger accounts (and/or match it to the appropriate inventory transactions) prior to saving the invoice. When an active status invoice is saved, the system automatically updates the appropriate AP Control account in the General Ledger, it adds the invoice amount to the open accounts payable sub-ledger reports, and the invoice is immediately available for payment processing.
When a Submitted or status S invoice is processed (by changing the status code used for the invoice during AP invoice entry), the system requires the operator to select the vendor, and enter the basic information for the invoice (this information includes the total amount, the invoice terms, invoice number, invoice dates, but it does not require the operator to distrbute the amount of the invoice to the general ledger (or match it to any related inventory transactions). In fact, the AP invoice program will block you from distributing the invoice (or tagging any inventory transactions for the vendor) when the status of the invoice is set to “S”.
Once an invoice has been entered into the system as Submitted, it can be sent to the appropriate personnel for signature approval, or to determine how the invoice should be distributed. Once the invoice has been approved or otherwise reviewed, it can be forwarded back to the Accounts Payable department to be converted into an Active status invoice. Once the invoice is received again by the AP department, the operator can load the existing submitted invoice, add the appropriate distribution or Three Way Matching detail to the invoice, and then save the invoice. This process converts the invoice to active status so that the invoice amount can be paid to the vendor.
The system will automatically filter status S invoices out of the standard accounts payable reports (these invoices are not actually included in the AP General Ledger Control Account balance so they are not normally output on the AP sub-ledger report).
You may run a report of open Submitted AP invoices by selecting the appropriate status code of S when running the report. This allows you to identify any submitted invoices that may not have been returned to the AP department for processing and payment.