Most events use the process in which Statements are generated automatically.
Running the Generate Invoices process is recommended before sending out statements for invoicing purposes and before running reports pertaining to payment status.
Pressing the Process Invoices button does the following:
- recalculates Invoiced Amount Due based on all Orders and the current Payment Schedule
- applies funds in Overpayment to active Orders, using priority logic specified via Item Type configuration
- ensures that the company is available to the Statement Report for sending out invoicing emails
It does not send out emails or save Word documents but serves as the first step for preparing the Statements before running the report.
Generate Invoices is the bulk equivalent of clicking the Process link on an individual Company's Financial Summary screen, except that no Word document is saved.