2.1.1 Invoices

An invoice is a bill sent from the seller to the buyer, documenting what has been purchased and what payment is owed.

It is also known as a bill or contract of sale. An invoice allows the business owner or freelancer, to keep track of business transactions and make sure that they get paid.

An invoice is an important underlying instrument used in trade and Supply Chain and Cash Management. A commercial invoice is universally used in trade between a buyer and supplier. Financing of Supply Chain also takes place against such Invoices. In OBDX, we have built in the functionality to handle invoices as receivables and payables.

A corporate user (either buyer or supplier) can raise an invoice directly from the portal. Invoices can be created by manually entering the invoice details online, or using an existing template, or uploading the scanned copy of a physical invoice, or through file upload for bulk invoices creation. Based on the status of an invoice, a corporate user can edit, accept, partially accept, cancel, or request finance, directly from the portal.

Note:

The application controls the creation of overdue invoices, based on a configuration flag. You are allowed to create invoices that are overdue, only if this flag is enabled.

• Create Online Invoice
  This topic provides systematic instructions to create the Online Invoice.
• Bulk Invoice Creation
  This topic provides systematic instructions to create Bulk invoices.