Invoice processing plays a vital role in managing the complete lifecycle of an invoice within accounts payable and receivable, encompassing receipt, approval or rejection, payment, and archiving.

RIVO's invoice module optimizes communication between sellers and buyers. When generating an invoice, sellers can conveniently submit it through Rivo, prompting the buyer to acknowledge and decide whether to accept or reject the invoice for payment.

The stages of invoice processing comprise:

• Shifting towards paperless invoice processing
• Accelerating the pace of operations for both accounts payable and receivable
• Instituting a dependable tracking system
• Utilizing the capabilities of direct pay

To initiate the Invoice processing as a Seller or Supplier:

• Access RIVO by logging in.
• Navigate to the dashboard's left-side menu bar and click on the "+" icon.
• Select "Invoice" from the list of modules available in RIVO.

Input the Basic details:

Fill in "Tell us some basic details".

1. Click on the start icon.
2. Choose the Issuing Unit.
3. Specify the amount in the Invoice amount field.
4. Select the desired Invoice currency.
5. Indicate the Invoice Issuing date.
6. Choose the Invoice due date.
7. Enter the Invoice number manually or opt for auto-generation by clicking the tick box.

• Input the Participants Details:

     Who Need to pay this Invoice

• Choose the buyer.
• Specify the LEI number if applicable.
• Provide the address.
• Enter the city.
• Input the zip/postal code.
• Specify the state/province/region.
• Select the country from the drop-down menu.
• Include the contact person's information.

Provide the attachment.

• Utilize drag-and-drop or browse the file to upload the invoice.

Sign the Contract

• Please review the provided details and proceed to sign the contract.

Save the contract

• Select the save icon to finalize the transaction.