Invoicing functionality that FOLIO needs to stay competitive (UXPROD-3439)

[UXPROD-2415] Add 'Pending' status for invoice and Commit money on transition to 'Open" Created: 01/May/20  Updated: 09/Dec/21

Status: Open
Project: UX Product
Components: None
Affects versions: None
Fix versions: None
Parent: Invoicing functionality that FOLIO needs to stay competitive

Type: New Feature Priority: P4
Reporter: Dennis Bridges Assignee: Dennis Bridges
Resolution: Unresolved Votes: 0
Labels: acquisitions, finances, needs-ranking, round_iv
Remaining Estimate: Not Specified
Time Spent: Not Specified
Original estimate: Not Specified

Issue links:
Cloners
is cloned by UXPROD-2416 Add related invoice(s) as hotlinks to... Open
Epic Link: Invoicing functionality that FOLIO needs to stay competitive
Front End Estimate: Medium < 5 days
Back End Estimate: XL < 15 days
Development Team: Thunderjet
Kiwi Planning Points (DO NOT CHANGE): 6
PO Rank: 69.9
Rank: Chicago (MVP Sum 2020): R1
Rank: Cornell (Full Sum 2021): R1
Rank: Duke (Full Sum 2021): R1
Rank: 5Colleges (Full Jul 2021): R4
Rank: GBV (MVP Sum 2020): R1
Rank: TAMU (MVP Jan 2021): R1
Rank: U of AL (MVP Oct 2020): R1

 Description   

Overview: When an invoice is created with no reference to an order line or no reference to any encumbrances through order lines. There is no money committed for the value of the invoice until it is approved (as per UXPROD-2393 Closed ). For some institutions this money must be committed earlier in the workflow.

Note: RM SIG discussion (May 1, 2020) revealed that we must commit money on approval at the very least, so awaiting payment values are accurate. Also, Transactions must have links to invoice(s) that contribute to awaiting payment value and this will be created as separate feature. Finally, for some institutions waiting until "Approved" to commit is later than desired so a separate feature will be created to capture work allowing a pending invoice state so Open invoice values can be committed.

Use cases:
Some institution prefer to consider money committed as soon as invoices arrive. This way as soon as invoices arrive the impact can be seen in the budget.
Institution uses approval step only to indicate that an invoice should be paid by the accounting system and when there are only one or two approvers it can result in a backlog of invoices for approval. In this case we want the money to show as committed earlier so staff can make more informed decisions about purchasing.

Requirements:

  • Add a 'Pending' status for invoices
  • Create awaiting payment transactions when invoice transitions from Pending to Open
  • perform all necessary checks
  • Allow user to continue to edit invoices that are Open and update awaiting payment values accordingly


 Comments   
Comment by Holly Mistlebauer [ 17/Jun/20 ]

TAMU comment from Round IV Outliers spreadsheet: This allows for another layer of invoices status that would then have money spent in the system sooner in the process rather than later. This is crucial towards the end of the fiscal year acquiring that we have that check sooner in the process to see if funds have been depleted and make further decisions on budget transfers if needed.

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