When the remaining amount of an invoice is reduced to $0 entirely by a credit, companies have the option to notify vendors that the invoice has been fully applied by a credit and that no payment will be sent. Contact MineralTree Support to enable or disable this feature.
When this feature is enabled, users see $0 invoices appear in the Invoices tab when the remaining balance has been reduced to $0. These invoices are added to the payment queue and submitted following standard workflows. Once approved, no payment in generated. Instead, an email remittance is sent to the vendor notifying them of the credit application and subsequent closing of the invoice.
The steps below outline the entire process of fully paying an invoice or invoices by credit.
- Invoices are reflected in MineralTree. Credits are available.
- Credits are applied in the Accounting System.
- Credit applications sync to MineralTree, and invoice amount is updated to $0.
- $0 invoices are added to the payment queue. Payment amount is $0; payment type is Credit Only.
- Email remittance is sent to the vendor email on file.