Sales invoice flow
Document lifecycle
Sales invoices are documents issued by a seller to a buyer, detailing the products or services provided, their quantities, prices, and any applicable taxes or discounts. They serve as a formal request for payment and evidence of the transaction for goods or services that have not been paid for yet.
The Banqup sales invoice lifecycle is a comprehensive process that begins with the initiation of a sales transaction and concludes with the receipt of payment, encompassing stages including creation, issuance, distribution, tracking, and reconciliation of invoices.
To integrate the sales flow, check out the API recipes.
Document actions
There are several actions available that can be performed on sales documents, depending on the stage of the invoice lifecycle.
Check out the glossary for details on each action.
Happy flow
A happy flow refers to an invoice flow that ends up in full or partial payment.
Edge cases
Edge cases refer to flows that involve invoice issues that can interfere with payment. In some cases, the issues may be resolved and payment becomes possible.
Sales invoice statuses
At the moment, four types of statuses are available for Banqup sales documents:
- General status - takes into consideration document, payment and delivery status and reflects the current state of the invoice in a manner that is most relevant to the user.
- Document status - reflects the document state regarding data accuracy.
- Payment status - reflects the document state regarding payment.
- Delivery status - reflects the document state regarding the sending process.
EXAMPLE
If an invoice has document status Disputed and payment status Unpaid, the general status will be Disputed because this one is most relevant to the user to trigger further action. Note that the general status dictates which actions are available on an invoice.
General statuses overview
The general statuses can be one of the following (see definitions below):
- Awaiting validation
- Disputed
- Refused
- Fully paid
- Partially paid
- Unpaid
- Won't be paid
A graphic representation of the possible flows of the general statuses:
Document statuses overview
| Document status | Description |
|---|---|
| Awaiting validation | The document is currently undergoing automated checks for format, data accuracy, and regulatory compliance. |
| Validated | The document is deemed valid and acceptable for further processing. |
| Invalid | The document failed one or more validation checks. This status signals that the invoice is rejected and requires correction or resubmission. |
| Draft | The document has been created successfully using the Document Creator app, but has not been sent yet. |
| Sent | The document has been sent successfully to the customer. |
| Fully approved | Document has been fully accepted by the recipient and can be paid. |
| Refused | The invoice recipient declines the invoice because it is incorrect and cannot be paid as it is. The refusal is a business decision, as opposed to invoice rejection which is for technical reasons. |
| Disputed | An invoice can be disputed by the recipient if the invoice is not correct. More communication is needed with the sender to reach an agreement. In the end, the invoice can be refused or approved. |
Payment statuses overview
| Payment status | Description |
|---|---|
| Unpaid | The document has not been paid yet. Once a full or partial payment is received, the status will change to Fully paid or Partially paid. |
| Partially paid | A partial payment has been received for the document. Once the remaining amount is paid, the status will change to Fully paid. |
| Fully paid | The document has been paid in full. |
| Won't be paid | Document will not be paid because it has been refused. If an agreement is reached, the invoice can be marked as resolved and it will change status to Unpaid. |
Delivery statuses overview
| Delivery status | Description |
|---|---|
| Sending | The system is in the process of sending the document. |
| Sent | The document has been successfully sent. |
| Received | The system has received confirmation that the customer has received the document in their system. |
| Delivery failed | The document could not be sent. |