Invoice-to-pay is the workflow from receiving a supplier invoice through validation, approval, payment, and reconciliation. It is narrower than procure-to-pay because it begins with the invoice rather than the purchasing request or purchase order.
Quick reference for Invoice-to-pay
| Check | What it means for the transaction |
|---|---|
| Category | Orders, invoicing, accounts payable and accounts receivable |
| Record to keep | Link the order, delivery evidence, invoice, approval, adjustment and payment reference that belong to the same transaction. |
| Do not infer | An approved invoice or recorded payment does not by itself prove that funds have settled or that the open balance is reconciled. |
Invoice-to-pay and nearby terms
- Invoice approval workflow: An invoice approval workflow routes a supplier invoice to the people authorized to confirm the purchase, receipt, coding, budget, and payment.
Trade finance connections
The invoice-to-pay process supplies approval and due-date data used by supply chain finance, early payment discounts and supplier finance.
