purchase order processing
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Vendor Invoice Reconciliation |
Last Revised: 08/28/18 |
Vendor Invoice Reconciliation is used when a balance difference occurs between a receipt and a vendor's invoice. Once a purchase order receipt has been updated, if the invoiced value has been determined to be correct, the operator can utilize this application to reconcile the difference (note that invoice amounts cannot be changed using A/P Invoice Maintenance). For example, if an item with a quantity of one was received for $100 and the vendor invoice is $105 for the item, the receipt value can be 'reconciled' with this application. The receipt will then indicate the item cost $105 instead of $100. With this application, the operator can also view listings of the items and correct any with variances to reconcile the differences.
Invoice Information
This option allows the operator to edit the following invoice information:
| Invoice Information | |
|---|---|
| Invoice Date | Use this field to change the date originally entered into Accounts Payable. |
| Invoice Subtotal | The invoice subtotal is the value of the received goods, not including freight or additional discounts. That amount can be changed using this field, but should not be changed if the cost of the items have not changed. |
| Additional Discount | If the vendor invoice indicates a discount that was not previously recorded, it can be entered here. |
| Shipping to Allocate |
Shipping charges can be allocated across all the items that were received on an order. The cost of the items on this order will include the shipping charges entered here. |
| Shipping to Expense | When shipping charges are expensed, they do not apply to the cost of acquiring an item. A company may consider inbound freight charges a cost of doing business and expect to incur freight. The amount entered here is only for assisting in calculating a zero variance and will not affect the general ledger. To post to the general ledger, this amount should be entered to invoice entry on the Accounts Payable (A/P) menu. |
| Invoiced not Received | If a vendor invoice charges the buyer for item(s) not received, the operator can enter that amount here. The invoice total will be reduced since payment should not be issued for goods not received. |
| Purchase Orders | Add or remove purchase orders related to this vendor invoice. |
Type D from this screen to delete the record.
Line Items
This option allows you to view line items and change their value if you know which items caused the discrepancy between the receipt and the vendor's invoice.
Listings
You can view a listing of all items, a listing of items with variance, or a listing of items with a variance of over 5%.
Update
After correcting any errors, you can use this option to update the information.