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A&M Consortium: FOLIO Aquisitions: Invoices App: Invoice Lifecycle

OSU practices for Aquistions using FOLIO

Invoices App: Invoice Lifecycle

Invoices App: Payment Tracking

The Invoices App in FOLIO is the final step in your acquisition’s workflow. It lets you record vendor invoices, apply charges to the correct funds, and move encumbered funds into actual expenditures.

This app talks to the Orders, Finance, and Organizations apps, so all payment details stay connected, making audits, reports, and fund tracking more accurate and efficient.

What You Use It For

Enter invoice details and match them to open POs
Create invoice lines for each item, title, or service
Apply fund codes and expense classes to track spending by format
Record adjustments like shipping, tax, and credits
Approve and lock totals to complete payment tracking

Core Invoice Workflow

Element	Description	Instructions
Invoice Overview	Starts a new invoice record linked to a vendor and PO.	Select Vendor, enter Invoice Number, Invoice Date, and set the Status to Pending. Pull in the PO to auto-populate line items if possible.
Invoice Lines	Breaks out individual costs tied to each item, title, or service.	Add one line per POL or service. Include Amount, Quantity, Fund Code, and Expense Class.
Adjustments	Adds shipping, tax, or credits that aren’t tied to specific items.	Use the Adjustments tab. Choose Adjustment Type, enter value, and select whether to Prorate by Amount or Quantity.
Fund Distribution	Splits invoice costs across multiple funds if needed.	Choose Distribution Method: Percent or Set Amounts. Ensure total matches PO fund coding.
Approval Workflow	Final check before marking an invoice as paid. Ensures totals match and funds are correct.	Confirm Calculated Total = Locked Total. Set Status to Approved when ready. Reviewer info and notes can be added as needed.

OSU Practices

Always import from the PO when possible. It auto-fills titles, POLs, and fund codes.

Got Tags? Be sure to fill in all required fields and tags:

Title / Description
Fund Code
Quantity
Order Format (Physical, Electronic)
Expense Class

Use the Adjustments tab for:

Shipping
Bar codes and MARC record creation
Credits or discounts

Approval check:

Calculated Total must equal Locked Total

🛠️ Gala’s Hack: Use the Notes field in each invoice line to document special situations partial shipments, back orders, discounts, or overages. You’ll thank yourself later when reconciling or reporting.

FOLIO Overview: Invoices App