There are multiple types of invoice documents and several ways to generate an invoice in StreamV. The term “invoice document” includes the following types of documents.
1. Order Invoice. This is an Invoice for the sale of goods and services from stock (from one of your warehouse locations) and is created from a type S sales order using the Order Invoicing program. These invoices are assigned an invoice type of OI (Order Invoice) and a source of OC (Order Completion) by the system as they are created. The Invoice Subtype that is assigned to each invoice is based on the subtype that was specified on the sales order being invoiced.
2. Loaner Invoice. A Loaner or Shipper invoice is a document that records the delivery of your inventory to someone else without recording a sale. Loaner invoices are created by completing a type “L” sales order. When a Loaner invoice is created for a stocking item, the system creates an invoice record for the shipment but the invoice is automatically closed out and the invoice is not included in your accounts receivable balance. The system also creates a Pending record which is used to track each item and quantity shipped out against this type of order. The Pending records for the shipments are used to value and track your inventory while it is out of house, and later the pending records can be cleared or closed out by either returning the goods to stock (if the items are returned by the customer), writing off the items (if you decide to expense them) or invoicing the customer for them (if they decide to purchase them). Loaner Invoices are created using the Order Invoicing program and they are assigned an Invoice Type of OS (Order Shipper) and a source of OC (Order Completion) by the program. The Invoice Subtype that is assigned to each loaner invoice is based on the subtype that was specified on the shipper or loaner order being invoiced.
3. Point of Sale Invoice. A Point of Sale Invoice is used when items are being purchased directly from stock and a sales order has not been generated for the goods being taken from stock. Point of Sale invoices are created using the Point of Sale Invoicing program. Point of Sale Invoices are assigned an Invoice Type of IN (Invoice) and a source of PS (Point of Sale). The default subtype assigned to POS invoices is based on the system parameter DEFSUBPS: which is normally set to POSSALE.
4. Credit memos - Credit Invoices for returned goods. Credit memos can be created using the Credit or Cancel Invoice option available in the AR Invoice Lookup program, and they can also be created by other systems such as the RA or Return Authorization system. The Cancel Invoice and the Credit Invoice options may only be used for OI, DI or IN invoice types. You may not cancel or credit a shipper (type DS, OS, SH) invoice, or a prepayment (PP), overpayment (OP) or debit memo (DM) invoice. The Credit option is used to reverse the original invoice and it returns the items from the invoice and the serial numbers associated with the invoice to stock. The credit is not applied to the original invoice automatically by the system. The Cancel Invoice option is similar to the credit option in that it creates a reversing invoice to offset the original invoice, but it also applies the original invoice and the new invoice against each other to close them both out. The Cancel invoice option may only be used when there has been no payment activity processed against the original invoice. The Credit option can be used even if the invoice being credited has been partially or completely paid. Credit Memos created using the Credit Memo and Cancel Invoice options in the AR Lookup program are assigned a Type of OI, a Source of AR and a default subtype of Credit or Cancel.
5. Adjustment Invoices - Invoices & Credit Memos to adjust a prior sale.
6. Pending Invoice. As mentioned before, when you invoice a shipper or loaner document, the system does not record a sale for the goods being shipped. Instead the system creates records in the Pending file to record the fact that the goods are on loan and that you still own them. Once the disposition for the goods sent out to the customer are known, there are several options for clearing the record from the Pending file. These options include returning the items to an inventory location (in case they are returned by the customer), writing off the items (in case they are being given away as samples or in case they cannot be re-used), or invoicing the goods to the customer. A Pending Invoice is created in order to bill a customer for goods already shipped to them on a loaner document. Pending Invoices are created using Invoice Customer option in the Pending Management program. Pending Invoices are created with an invoice type of OI (Order Invoice) and a source of PN (Pending). The default invoice subtype from the original shipper invoice is carried into the Pending AR Invoice.
7. Returns To Vendors. A Return to Vendor Shipment is a special type of Loaner Sales Order used to return items that you have purchased from a vendor back to the vendor for return or replacement. An RTV order is processed as a loaner, but the order is tied to a vendor instead of a customer record. Once an RTV shipment has been processed for a vendor, the items returned to the vendor are tracked in the Pending File and the Pending records for the shipment can be closed out by returning the goods to stock (if replaced by the vendor), or by creating a debit memo (negative AP invoice) for the vendor in the Pending Management program. RTV shipments to the vendor or outbound shipments are processed using the Order Invoicing program. The Accounts Payable Invoice that is generated for the vendor when the return is closed out is created using the Invoice Vendor option in the Pending Management program.
8. Vendor Shipments. Vendor shipments are order lines which are fulfilled or completed by your vendor shipping goods directly to your customer. When a vendor shipment is processed, there is no stock movement through your warehouse location. When a vendor shipment order line is created the system automatically creates a special type of purchase order requisition that is used to place a PO with the vendor for the item required by the customer. The system automatically transfers information from the sales order (such as the shipping address) to the purchase order requisition and this information is forwarded to the vendor when the PO is placed with the vendor. Vendor shipments invoices are created from the purchase orders that are placed for each vendor shipment using an option in the Purchase Order Management program. When this type of invoice is created, the system automatically records the cost of the items shipped by the vendor (based on the PO being processed) and it creates inventory liability records that are used when processing the accounts payable invoices from the vendor. Vendor shipments are discussed in detail in the documentation for the Purchasing system.
9. Overpayment, Prepayment and Debit Memo Invoices. Overpayment (OP), Prepayment (PP) and Debit Memo (DM) invoices are created during Accounts Receivable payment processing to track any unapplied or over applied customer payments against accounts receivable. As each customer payment is applied to existing invoices in the Cash Application program, the system allows the operator to track any over or under-applied payment amounts by creating a new invoice for the customer being processed. If the new invoice balance is negative (meaning you have more cash to apply than invoices to pay), the system allows you to track the under applied payment by creating a prepayment or an overpayment invoice. If you apply more than the amount of the payment to the customer account, you may also create a debit memo or a positive invoice to track the amt still owed to you after the payment application. These options allow you to handle situations where the customer may be deducting an amount that has not been approved or issued on your system or to handle issues where the customer makes a duplicate payment – or pays in advance. Overpayment, Prepayment and Debit Memo invoices are posted online during Customer Payment Processing and they do not result in the movement of any inventory. Overpayment, Prepayment and Debit Memo Invoices are assigned a source of CA (Cash Application).
10. InterFacility Transfer Invoice. An InterFacility Transfer is used to transfer inventory from one physical inventory location to another inventory location. The IFT system is designed for transfers where there is a substantial amount of time between the shipment of the goods from the source facility and the receipt of the goods at the destination facility. The IFT system makes use of a special type of Loaner Sales Order that is created by the Purchasing System and the –COVELOC customer and Vendor records. Once the IFT PO and Sales Order have been generated, the Sales Order is Completed using the Order Invoicing program – which creates Pending records for the items being transferred, allowing the items to be tracked while they are in transit. When the goods are received at the destination location, the PO Receipt program is used to close the PO and the associated Pending records. IFT invoices are assigned an Invoice Type of OS, an Invoice Source of OS and a Subtype of Transfer by the Order Invoicing program.