Working with Third-Party Invoices
Third-party invoices are the invoices that track the incomes and expenses resulted from contracts/ deals based on the institution's agreements with third-party entities (merchants, agents, brokers, etc.) . Distribution Management has a dedicated menu for managing third-party invoices. These third-party invoices are attached to agreements with third-party entities. You can create invoices manually, or allow Distribution Management to create the invoices automatically.
The commissions applicable to agreement pricings are automatically calculated by the system and recorded in the invoice details. The commission calculation is triggered either when a the contract/ deal or an event at the contract/ deal level is approved. The commission is calculated by sending a request to an external request processor function (for example the Azure function) corresponding to the
ProcessFunc-TPM-FindAgreements system parameter. The function calls a series of endpoints within the system that perform the commission calculation and invoice detail records insertion. These calculated invoice details are later attached to invoices, either automatically or manually.
For Distribution Management for Banking, the commission is automatically calculated when a contract event or the contract itself is approved (for agreement pricings with
Is For Transaction = True).
A dedicated job, based on the third-party agreement's
Payment Periodicity (daily, monthly, or weekly), creates invoices and attaches their corresponding invoice details.
For information about the available endpoints, please visit the Distribution Management Endpoints page.
To manage third-party invoices:
In FintechOS Portal, click the main menu icon and expand the Distribution Management menu.
- Expand the Distribution Management Operational menu and click the Invoice menu item to open the Invoices List page:
If using Distribution Management for Banking, the same menu item displays the Agreements Invoices page, showing information about the invoices, but with more banking business relevant details:
On the Invoices List page, you can create a new invoice manually, search, edit, or delete an existing third-party invoice in Draft status.
For Distribution Management for Banking, on the Agreements Invoices page, you can perform the same actions.
Distribution Management can also create the invoices automatically, using the Generate Invoices scheduled job. This job runs once each night and creates third-party invoices and payments, for the combination of third-party entity/ agreements currency, during the validity of the agreement, on the Payment Day of each agreement, as defined in the third-party agreement's
Payment Periodicity (daily, monthly, or weekly).
Users with the associated role of Distribution Management Admin or Distribution Management Admin Banking can view, insert, update, and authorize third-party invoice records.
Users with the associated role of Distribution Management Officer or Distribution Management Officer Banking can view, insert, and update such records, but they can't authorize them.