In the PeopleSoft Billing module, you will frequently hear the terms "bill" and "invoice". To put it simply, while an invoice is the final document to be sent to a customer, a bill can be considered a 'raw' version of the invoice.
The following illustration shows a high-level process for invoice processing:
The billing process begins with the entry of bills, either manually or through delivered interfaces from other PeopleSoft modules. We'll discuss these concepts in greater detail a little later. Once these bills are in the PeopleSoft system, they can be reviewed and approved (if necessary). Reviewing the bills can be implemented through printing draft invoices, called pro-forma invoices. You can print pro-forma invoices using a batch process as many times as needed to review how the invoices would look. If any changes are needed, they are made to the bill.
Once the bill is deemed appropriate, a batch process is executed to 'finalize' the bill. This transforms...