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The procedures for a Seller to issue an Invoice and for a Buyer to respond to an Invoice are straightforward.Payment Terms to which the Seller and Buyer agreed determine how often the Seller should issue invoices (eg, every seven days if the Payment Terms are 7/1 or every 15 days if the terms are 15/3).
The Seller uses the Vertecto Transaction Protection Service (the "TPS") to issue the Invoice to the Buyer. The Seller is required to enter the amount of the Invoice and the number of minutes covered by the Invoice. The Seller can use the TPS to create the remainder of the Invoice or can upload the Seller's own form of invoice as a .pdf or .doc file. The Seller also has the option of uploading CDRs.
The TPS notifies the Buyer that an Invoice has been submitted. The Buyer can approve the Invoice, dispute a portion of the Invoice or dispute the entire Invoice. The net amount of the approved Invoice (or the undisputed amount of a disputed Invoice) is instantly moved from the Buyer's account to the Seller's account. If the Buyer fails to respond to an Invoice within a reasonable time, as defined in the TPS Agreement, the TPS will move the net Invoice amount to the Seller's account. Vertecto strongly advises Buyers against disputing an entire Invoice without a very good reason. Any disputed amounts remain in the TPS while the matter is resolved. This protects both parties.
You can use the TPS to create the actual Invoice or you can upload your own invoice in pdf and other common file types. You must identify the Project, the amount and the number of minutes. You can also upload all of the CDRs covered by the Invoice.
The blue numbers in this section correspond to the numbers in the following illustration.
Only basic information is required. (1) Choose the Project you intend to invoice from the dropdown menu of your active Projects. (2) Enter the amount of the Invoice in the "Amount" field. The "Amount" field defaults to the Project currency (USD, EUR, HKD or GBP). (3) Enter the number of minutes covered by the Invoice.
We suggest that you include optional information or upload your form of Invoice. All items in this paragraph are optional. (4) If you are not uploading your own form of invoice for the Buyer, use the "Comments" field to provide Information useful to you or the Buyer. This could include the a description of services, internal reference numbers or other information. (5) Use the the CDR File upload field to upload the CDRs covered by the Invoice. NOTE: The Buyer will see the CDRs you upload from the Invoice page. Please 'scrub' the CDRs to remove any information that the Buyer should not see, such as the IP addresses of your terminating carriers. (6) If you would prefer to use your own Invoice form, you can upload it using the "Your Invoice Form" field. You are free to upload documents with your logo and printed information in .pdf, .doc or other acceptable formats.
You can check the status of your sent invoices by clicking the "Invoice(s) Sent" link on your Dashboard or you can navigate to the "Invoices" page, as shown in the following illustration. The blue numbers in this section correspond to the numbers in the following illustration.
To navigate to the "Invoices" page, (1) click the "Accounts" tab on the main (red) navigation bar and then (2) click the "Invoices" link on the secondary (gray) navigation bar. Click (3) "Invoices Sent" to bring up the correct table. Each Invoice that you have sent will appear on this "User Invoices [Sent]" table. The Status column (4) provides the most important information. Here, the Status column indicates that the Invoice was sent to the Buyer, but the Buyer has not yet responded. While you should check this information on a regular basis, the TPS will send you email notices when the Buyer responds to the Invoice and funds are moved to your account.
As a Buyer, it is a good practice to check your Dashboard for new Invoices whenever you log in to the TPS. On your Dashboard, look at the "Invoice(s) Received" link. The number of Invoices will appear next to the link. If you have a new Invoice, simply click on the link to go to the "Invoice Received" page. In this illustration, the Buyer's Dashboard is indicating that the Buyer has received an Invoice from a Seller:
You can navigate to the "Invoices Received" table from anywhere on the TPS. (1) click the "Accounts" tab on the main (red) navigation bar and then (2) click the "Invoices" link on the secondary (gray) navigation bar. You can now choose to issue an Invoice, review received Invoices or review Invoices you have sent. Click "Invoices Sent" (3) to bring up the "Invoices Received" table. As the next illustration shows, the table provides summary information about your Invoices, including (4) the Invoice number and (5) the Invoice status. To review the full Invoice, simply click on the Invoice number.
Approving the Invoice is easy! After you click on the link to the Invoice, you will see the "Invoice Details" page. First, review the Invoice details (1) to make sure they match your records. If the Seller uploaded a CDR file (or if you want to request the Seller to upload the CDRs) click the "Request CDR button" shown as (2) in the following illustration. When you are satisfied, simply click the "Approve Invoice" button labeled (3) in the illustration and the TPS will automatically move the funds and notify the Seller.
Is there a problem with the Invoice? If your records indicate that there is a mistake in the Seller's Invoice, you can create a Dispute. You should always review the Invoice details (1) carefully and download or request a copy of the CDRs by clicking the "Request CDR button" shown as (2). Use the "Approved Amount" field (3) to enter the amount that you approve in the USA form, without commas. (EXAMPLE: The Invoice is $1500. You dispute $75. You enter $1425 ($1500 - $75 = $1425) as the Approved Amount.) Enter the reason(s) for the dispute and click (5) the ""Approve Undisputed" button. If you dispute the entire amount, click the "Decline Invoice" button.
If you are disputing an Invoice, always be prepared to show the Seller exactly where the problem occured. Did the Seller apply the wrong pricing? Do they show more connected calls than you do? NOTE: Remember that most Invoice issues are honest mistakes. Sellers rely on automated billing systems and may not realize that an Invoice is incorrect. Buyers may not realize that the Seller's switch and the Buyer's switch are operating on different time zones, so the Seller's midnight billing cut-off may be several hours before or after the Buyer's switch records midnight. Disputes cost both parties time, effort and money. We urge all Sellers and Buyers to try to resolve disputes between themselve in good faith as quickly as possible. Since escrowed funds are not available to the Seller or the Buyer during a Dispute, it does not benefit either party to keep a dispute active..