Understand Final invoice (FI) for Freight Audit

A Final Invoice (hereinafter referred to as “FI”, reflected as “Invoice#” in the “Search final invoice” tab in Freight Rate Exchange Database (hereinafter referred to as “FRED”)) is a financial document stating the amount to be paid by a shipper to a carrier for the transportation services in the form of a certain number of shipments within a certain period of time (daily, weekly, bi-weekly, monthly as per agreement with a client).

FID# (final invoice document number indicated in the “Search final invoice” tab in FRED) - a unique number applied for an internal FRED ID of invoice.

Status of invoice(-s) can be checked directly in the FRED system.

Main statuses are listed below:

FI status:	Comments
Approved	An invoice has been approved and sent for payment; the audit process is over.
Denied	An invoice was denied as it does not match some of the shipper’s requirements and a denial letter has been sent. Note: You can open the denial letter and check details, if available, by clicking respective icon
In processing	An invoice has not been audited yet or invoice processing is blocked for some reason. Note: An invoice can remain in this status unless all pending issues to be resolved.
Matched	An invoice has already been processed by Transporeon Freight Audit (hereinafter referred to as “TP FA”) and will be approved within an agreed timeframe.
Mismatched	There are discrepancies in the Invoice Statement Document result (hereinafter referred to as “ISDR”) and a linked invoice. Note: A click on the “mismatched” icon will prompt FRED to show a comparative table item-by-item helping to find discrepancies in the ISDR and a respective invoice in the following categories: invoice entity, Value Added Tax (hereinafter referred to as “VAT”) number, total cost value, VAT value, currency, carrier name.

Payment status:	Comments
Funding requested	A notification about invoice approval is sent to shipper’s system.
Funding confirmed	A confirmation from shipper’s side that invoice is booked for payment received by Transporeon Freight Audit.
Funding Error	Shipper has rejected c Payable file (hereinafter referred to as “AP file”) for this invoice. Transporeon Freight Audit (hereinafter referred to as “TP FA”) is investigating the reason for it.
Paid	Invoice is paid to carrier.

A Credit Note (hereinafter referred to as “CN”) is an additional invoice with a negative amount issued by a carrier for a shipper in order to pay back the amount which was overbilled on the original invoice.

Credit Note request (hereinafter referred to as “CNR”) is a tool to request credit notes quickly and register them efficiently in FRED, thus providing a full visibility of the audited costs discrepancies.

Main statuses are listed below:

CN status:	Comments
Credit note requested	A credit note request has been sent to a carrier due to an overbilled amount invoiced.
Credit note received	A credit note has been received from a carrier and is subject to auditing by TP FA within an agreed timeframe.
Credit note approved	A credit note has been approved and sent for payment to a shipper

Note: Until all issues are resolved, the audit process cannot be finalized. Quick responses contribute to timely invoice approval and on-time payment.

Any inquiries regarding the status of payments made in accordance with the approved invoices should be sent directly to a shipper. Invoices in any other pending status, other than approved, are not sent for payment to a shipper.

Find the required FI in FRED

Search Final Invoice - allows to find invoices in the FRED in different audit and payment statuses.

Action filter allows users to select invoices that have been created, changed, approved, assigned, or a credit note for which has been requested by specific users of the FRED. Also, invoices can be filtered by fields carriers and invoice entity, payment status, and credit note status. Invoices can be found based on invoice #, receive date, invoice date, denial date, due date, approval date. To do this, set the period and click Search.

In the search result, users can see all invoices, registered in FRED. If an invoice was not found in FRED, it means that it was not received by TP FA for processing. Carrier should check if it was correctly sent to TP FA or re-sent it once more.

In this table, you can see all invoices and general information: invoice#, FID[1] # (final invoice document - internal FRED identification of invoice), invoice date, invoice amount, ISDR# (the number of the document in FRED which is used for checking invoice details), due date, and status.

Also, you can use the status of the invoice for the search. For more information on how to search for a FI please log in to FRED and navigate to the Documentation section located in the FRED top menu bar. “Appendix_C_Final Invoice” is available under User guides folder.

This function is available for shippers and carriers.