Invoice Received (Event Status)
Payment Scheduled (Event Status)
Sent for Funding (Event Status)
Submitted for Payment (Event Status)
Textura Supplier Finance Cloud Service
The Action column on the invoice grid shows available actions for the invoice.
Note: Edit an Invoice’s Payment Schedule will not impact other invoices which may be pending.
The Audit Trail area appears on the Invoice Details page and the Credit Note Details page. It shows the major events in the history of an invoice. Events are logged in real time.
The Batch Reference is a remittance ID that identifies a payment batch made to a Supplier. This reference includes the Buyer, the payment type, and an ID number:
{BuyerID}TPM{ID No.: 123ABC}{payment type}.
The Buyer Invoice Number is an internal invoice reference number issued by the Buyer.
Note: Both the Supplier Invoice Number and the Buyer Invoice Number are shown on invoice screens.
A credit note is a negative value transaction from the Buyer that reduces the amount payable on any invoice to which it is applied.
The Currency is that of the invoice.
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The Date Paid is the date an invoice was actually paid.
The Early Payment Fee is assessed by the Funder for early payment under the program. The fee is computed based on an underlying interest rate and the Tenor, which represents the acceleration of the payment in days.
The Estimated Early Payment Fee is a fee that may change in the future due to movement of the underlying base interest rate (LIBOR). Since interest rates change daily, the correct interest and early payment fee amounts may only be accurately computed on the day the invoice is due to be funded.
The Full Term Date is the date that the invoice would be paid under the commercial terms between the Supplier and the Buyer.
Note: The Funder has the option to adjust the Full Term Date for holidays and weekends. A field called Original Full Term Date is available through integration. The Original Full Term Date field holds an unadjusted Full Term Date.
The Funded Amount for an invoice is the value of the invoice less any credit notes that have been applied.
The Funder is the organization providing the funding for early payments.
A Funding Statement is an agreement created by the Funder. It is accepted by Suppliers when they start using the system. Users can see it on the Payment Scheduling tab.
The Interest Rate is the underlying rate of interest that is used to compute the Early Payment Fee. This rate includes a base rate (LIBOR) and a fixed component above that. On a daily basis, the program interest rate may change slightly.
The Invoice Amount is the amount due for payment at a Full Term date under the invoice terms.
The Invoice Date is the date the Supplier sent the original (e.g. paper) invoice. It typically appears on the face of the invoice document.
The Invoice Received Date is the date the system received an invoice. There may be cases where processing delays occur before the invoice is received.
Invoice Received in a workflow indicates the date and time an invoice was imported.
An Invoice represents a billing for goods sold or services delivered by the Supplier. Each payment begins with an invoice and its terms.
The London Inter-Bank Offer Rate (LIBOR) is a daily benchmark rate used by banks to represent the underlying cost of borrowing. It is a component of the interest rate underlying early payment fees.
Paid in a workflow indicates the date and time a Supplier is paid for an invoice.
Note: The Paid event occurs when the payment file is sent to a financial institution. Depending on the type of payment (for example, ACH or BACS), it may take two days to clear funds in a Supplier account.
The Payment Amount is the Invoice Amount less any credit notes and early payment fees applied.
A Payment Batch consists of one or more invoices and credit notes that are grouped together for payment on the same day from the same Buyer.
Note: More than one batch may appear on your bank statement if funding comes from different sources.
Payment Scheduled in a workflow indicates the date and time a payment is scheduled for an invoice.
Note: An invoice may have multiple Payment Scheduled events.
The Payment Settings page allows Suppliers to select a Default Payment Scheduling rule for all invoices.
Note: The Payment Settings page is only available to Suppliers.
Invoices may be paid either as early payments (EP), which are discounted, or as full-term (FT) payments, which are not discounted.
The Scheduled Payment Date is the date that the system calculates an invoice should be paid based on the Supplier selections.
Note: The system applies a calculation based on the default payment scheduling rule selected by the Supplier. The calculation is applied to each invoice in the system to obtain the scheduled payment date for an invoice.
Sent for Funding in a workflow indicates the date and time a payment batch of invoices is sent to the Funder for payment.
Settled in a workflow indicates the date and time a Buyer repays a Funder for invoices that had previously been discounted and funded.
The status of an invoice reflects the point at which the invoice has progressed through the workflow.
Note:
An Event is an action that occurs in and triggers an entry in the Audit Trail.
Note: The Event can be viewed in the Audit Trail on the Invoice Details page.
Submitted for Payment in a workflow indicates the date when the payment instructions were presented to a financial institution or the Funder.
The Supplier Invoice Number is an internal invoice reference number issued by the Supplier.
Note: Both the Supplier Invoice Number and the Buyer Invoice Number are shown on invoice screens.
The Supplier is the organization receiving payment for an invoice.
Note: The Supplier may be a Subcontractor to the Buyer.
The Tenor is the number of days by which payment is accelerated. It represents the number of days between the scheduled early payment and the Full Term Date of the invoice.
Textura Supplier Finance Cloud Service is the product name for the technology used to deliver early payment programs for Buyers and Suppliers. It is owned by Oracle Corporation.
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Last Published Tuesday, February 05, 2019