INVOICING AND PAYMENT PROCESSING WORKFLOW

Created by ChecklistGuro (https://checklistguro.com)

[ ] Retrieve Pending Invoices: Fetch all entries from the Invoice Data Model where status is 'Unpaid' or 'Draft'.
[ ] Get Vendor Details: Retrieve vendor contact information and tax details from the Vendor Data Model.
[ ] Calculate Total Invoice Amount: Sum the line item amounts and add applicable tax and shipping fees.
[ ] Create Invoice Record: Generate a new entry in the Invoices Data Model with the calculated total and due date.
[ ] Assign Approval Task: Create a task for the Finance Manager to review and approve the generated invoice.
[ ] Update Invoice Status to 'Pending Approval': Change the status field of the specific invoice entry to reflect it is awaiting review.
[ ] Aggregate Monthly Payable Total: Sum the total amounts of all invoices due within the current month for cash flow forecasting.
[ ] Generate Payment Instruction: Create a task for the Accounts Payable Clerk to initiate the bank transfer/payment.
[ ] Update Invoice Status to 'Paid': Update the invoice entry status to 'Paid' once payment confirmation is received.
[ ] Create Payment Receipt: Create a new entry in the Payments Data Model to log the transaction date, amount, and method.
[ ] Send Payment Notification to Vendor: Send an automated email to the vendor's email address notifying them that the payment has been processed.
[ ] Send Overdue Alert to Internal Stakeholder: Send an email to the department head if an invoice remains unpaid past its due date.
[ ] Generate Monthly Accounts Payable Report: Create a summary report containing all processed, paid, and overdue invoices for the month.
[ ] Remove Draft Invoices: Delete any duplicate or erroneous draft entries created during the process.

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