Commission Reconciliation

Transcription

1 Introduction ommission Reconciliation The Invoice ommission Reconciliation program allows you to reconcile invoices on the system against your monthly MFG commission statements. There are two available methods for performing reconciliation: One at a Time - you enter the invoice number to be reconciled MFG Sequence - the system automatically provides you with all open invoices for one MFG for a selected date range according to the sequence of the commission statement The reconciliation process enables you to specify the month of payment for more accurate tracking of income. You may also create discrepancy invoices to keep track of underpayment situations. A listing of discrepancy invoices may be generated through invoice reports and can be provided to the factory to follow up on payment. ommission Reconciliation System Tabs...Page 1 Reconcile Invoices Tab...Page 2 Reconcile Invoices - One at a Time...Page 4 Reconcile Invoices - MFG Sequence... Page 5 Discrepancy Invoices...Page 6 Lookup Invoices Tab...Page 7 Menu Options...Page 8 Display All Invoices by PO #...Page 8 Set Batch Number...Page 9 ommission Reconciliation System Tabs The ommission Reconciliation System utilizes a tab concept to allow multiple screens of information to be stored in the program but used only as needed. The tabs available in the ommission Reconciliation System are as follows: Reconcile Invoices Lookup Invoices Page 1

2 Reconcile Invoices Tab When you click the Invoice ommission Reconciliation button from the Main Menu, the system takes you to the Reconcile Invoices Tab. The primary function of this system is to allow you to reconcile invoices on the system against the monthly MFG commission statement. There are two methods for performing reconciliation: One at a Time MFG Sequence Select the appropriate reconciliation method by clicking the corresponding option button at the top of the screen. The Reconcile Invoices Tab displays information regarding the selected Page 2

3 invoice. The fields in the top frame are more for viewing but may be changed if necessary. The bottom frame contains the fields that will be changed to complete reconciliation for the invoice. The following fields are displayed on the Reconcile Invoices Tab: Invoice Number MFG Invoice Date SLS #/% Batch Number Select ode Stock/Job Invoice ode Invoice History ustomer ode ustomer Name ustomer PO Number MFG Order Number Order Amount Reference Job Name omments Date Reconciled Date Applied Freight Amount the Invoice Number the factory code (up to 4 characters); this field is brought over from the order the Invoice Date (MMDDYY format) filled out by the system for the specified customer code at the time the order is entered; these fields may be changed at any time represents the batch number designated for a grouping of invoices when applied a special one character code to classify this order; default select code values may be entered in the Name and Address system for each customer S/J; this field is brought over from the order either P or based on whether this invoice completed the order at the time it was applied filled out by the system (with a "U") if the invoice has been updated to the Sales Invoice History System. If the field is blank, the invoice has not been updated. Only R=Reconciled/Paid invoices are updated to the Sales Invoice History System the customer code (up to 6 characters); this field is brought over from the order the firm name represented by the ustomer ode the purchase order number (up to 20 characters); usually the customer's PO number; the order against which the selected invoice has been applied the factory order number or warehouse release number the total order sales amount, commission amount, and commission percentage reference credit; for use in tracking reference/specification credit; this field is brought over from the order the job or project name (up to 35 characters); this field is brought over from the order miscellaneous information regarding the invoice that may be entered at the time the invoice is applied or reconciled the system date for when the invoice was reconciled; this field is empty when the invoice is first applied unless the invoice is reconciled at the time it is applied the system date for when the invoice was applied against the order the amount of freight charged; this amount is usually NOT included in the Invoice Amount Page 3

4 Overage Amount the amount of overage on the invoice; this amount IS included in the Invoice ommission Amount Below are the specific fields involved in reconciliation. These fields are explained in greater detail in the sections explaining the specific reconciliation processes: Reconcile Invoices - MFG Sequence Reconcile Invoices - One at a Time Reconciliation ode - either O=Open/Not Paid or R=Reconciled/Paid Processing Date the Processing Date of the invoice; for an open invoice, the Processing Date usually represents the date the invoice is applied against the order; for a reconciled invoice, the Processing Date represents the month of the commission statement and date the invoice is reconciled Invoice Amount the amount of the invoice; Freight is usually not included in the Invoice Amount ommission Amount the commission amount for the invoice; you can enter %.05 or *.05 to have the system calculate a 5% commission ommission % the percentage of commission - calculated by the system based on the commission amount entered Reconcile Invoices - One at a Time There are two methods for performing invoice commission reconciliation. The One at a Time method is best suited when performing reconciliation on a limited number of invoices or a batch of invoices that is not in any particular sequence. For more expedient reconciliation of invoices, perform the Reconcile Invoices - MFG Sequence function. When you click the Invoice ommission Reconciliation button from the Main Menu, the system takes you to the Reconcile Invoices Tab. The default reconciliation method is One at a Time. At the bottom right of the screen, enter the Invoice Number of the invoice to be reconciled in the box provided and press the Enter key. The selected invoice will be displayed on the Reconcile Invoices Tab with the cursor placed in the Reconciliation ode field. Reconcile the invoice as follows: Determine whether a discrepancy situation exists. In other words, if $100 of commission is expected and the MFG commission statement reflects a commission of $60, there is a discrepancy of $40. See Discrepancy Invoices for how to handle a discrepancy invoice situation. Assuming that a discrepancy does not exist: 1. hange the O=Open code to R=Reconciled and press the Enter key. 2. In the Processing Date field, enter the Processing Date for the invoice (in MMDDYY Page 4

5 format). 3. Press the Enter key through the Invoice Amount and ommission Amount fields. Pressing Enter through the ommission Amount field saves the invoice to the system. The system places the cursor back into the Invoice Number field where you may enter the next Invoice Number for reconciliation. Reconcile Invoices - MFG Sequence There are two methods for performing invoice commission reconciliation. The MFG Sequence method is the preferred method when dealing with a large number of invoices and when the invoices are displayed in a logical sequence (such as Invoice Number sequence) on the MFG commission statement. The One at a Time method is best suited when performing reconciliation on a limited number of invoices or a batch of invoices that is not in any particular sequence. When you click the Invoice ommission Reconciliation button from the Main Menu, the system takes you to the Reconcile Invoices Tab. The default reconciliation method is One at a Time. lick the MFG/Sequence option. The system will take you through a series of steps to determine what invoices are to be reconciled. Select from the MFG/Sequence choices based on the sequence invoices are listed on the MFG commission statement (such as MFG/Invoice #). This sequence is likely to vary between different factories. lick OK once the sequence is selected. 1. Select a MFG ode from the list provided and click OK 2. Enter a Starting Date (in MMDDYY format) for reconcilement and click OK. Enter an Ending Date (in MMDDYY format) for reconcilement and click OK. Setting a date range allows you to exclude invoices that you know will not be on the MFG commission statement. 3. onfirm the MFG ode selected for reconcilement and click OK. The system will search the invoice file for all Open invoices for the MFG ode entered within the selected date range. When the search is complete, the system will display the number of invoices found. lick OK to continue with the reconcilement process. 4. The system will now display the selected invoices one at a time in the sequence selected in step 1. above. The system will place the cursor in the Reconciliation ode field. For each invoice displayed: If the invoice is included on the MFG commission statement: Determine whether a discrepancy situation exists. In other words, if $100 of commission is expected and the MFG commission statement reflects a commission of $60, there is a discrepancy of $40. See Discrepancy Invoices for how to handle a discrepancy invoice Page 5

6 situation. Assuming that a discrepancy does not exist: hange the O=Open code to R=Reconciled and press the Enter key. In the Processing Date field, enter the Processing Date for the invoice (in MMDDYY format). Press the Enter key through the Invoice Amount and ommission Amount fields. When you press Enter through the ommission Amount field, the system will save the invoice and automatically display the next invoice in the sequence. If the invoice is not included on the MFG commission statement: Enter a B to Bypass this invoice and press the Enter key. The system will skip the invoice and automatically display the next invoice in the sequence. Once all invoices have been processed, the system will display an All Done message to indicate completion of reconcilement. Discrepancy Invoices Upon occasion when reconciling a MFG commission statement, you will encounter a discrepancy situation. In other words, if $100 of commission is expected and the MFG commission statement reflects a commission of $60, there is a discrepancy of $40. One possibility is that the commission was not entered or was entered incorrectly in the order and/or invoice and the commission on the statement is correct. If this is the case, you should reconcile the invoice for the amount indicated on the statement. Another possibility is that the commission was entered correctly in the order and/or invoice and the commission statement is incorrect. In this case, you should create a discrepancy invoice to track the missing commission dollars for later follow up with the factory. When performing commission reconciliation, most reps will just accept (by changing the invoice commission amount) any overages and small shortages less than a pre-determined amount (such as less than $20). The following example shows you how to create a discrepancy invoice for shortages that exceed this amount: The following are the steps to create and track a discrepancy invoice: 1. The ommission Amount for the displayed invoice does not match the commission amount indicated on the MFG commission statement. Therefore, a discrepancy exists. (Many users choose to ignore differences of less than a certain amount - such as $20 - due to the time required to document, follow up, and collect the disputed amount). 2. lick the Discrepancy button at the right. The system will display a box for the Discrepancy Invoice Number (the original invoice number with a -DIS added to the end). 3. Go ahead and reconcile the original invoice for the amount received. Start by changing Page 6

7 the O=Open code to R=Reconciled and press the Enter key. 4. In the Processing Date field, enter the Processing Date for the invoice (in MMDDYY format). 5. Press the Enter key through the Invoice Amount field. 6. hange the ommission Amount to the amount received and press the Enter key. The system saves the original invoice as reconciled for the amount received and places the cursor in the Discrepancy Invoice Number field. Note that the fields to the left have now changed: Reconciliation ode = O - represents Open for the discrepancy invoice Invoice Amount - zeroed out by the system so that invoice amounts are not inflated ommission Amount - calculated by the system as the difference between the expected commission amount and the actual commission amount paid. 7. Press the Enter key through the Discrepancy Invoice Number field to save the discrepancy invoice. 8. If you are reconciling using the One at a Time method, the system will place the cursor back into the Invoice Number field where you may enter the next Invoice Number for reconciliation. If you are reconciling using the MFG/Sequence method, the system will display the next invoice to be reconciled according to the selected sequence. Lookup Invoices Tab The Lookup Invoices Tab allows you to display a listing of all invoices in the Sales Assistant System. Invoices may be listed in one of the following sequences: Invoice Number Sequence PO Number Sequence Process Date Invoice Date Apply Date Reconcile Date The system default sequence is to display invoices in Invoice Number Sequence. When you click on the Lookup Invoices Tab, the Sort Invoices By frame shows that invoices are being displayed in Invoice Number Sequence. The Invoice Number Sequence is highlighted in yellow from the selection box to show that it is the currently selected sort sequence. To change the current sequence, click the down arrow to the right and click the desired sequence. lick the New Start Key button to display invoices beginning at a specific location in the chosen sequence. For example, for Process Date Sequence, to display invoices beginning with a Processing Date of May 5, 2001, enter a Start Key of To display all invoices for the chosen sequence starting at the beginning of the sequence, do not change the Start Key default value in the box. Page 7

8 If you wish to further limit the lookup, you may choose to select a specific value for Processing Month, Year, MFG, and/or ustomer. For example, you may wish to display all invoices for a particular ustomer for last month only. lick the Processing Month box under Selection riteria. Enter the desired month and continue by pressing the Enter key until you have entered selections for Year, MFG, and ustomer. If you do not wish to change one of the criteria, you may press the Enter key through that specific box which leaves the default value. Once you have completed the ustomer box and pressed the Enter key, press the Enter key again to automatically activate the OK button. The ancel LU button allows you to terminate an in-progress lookup. You may also choose to display only Open or Reconciled invoices. The default setting is to display all invoices. Menu Options Display All Invoices by PO # This function allows you to display all invoices that have been applied against a specific PO #. This function is also a valuable tool in balancing the invoice totals in the order. When changes have been made to an invoice total or commission amount, performing the Display All Invoices by PO # function allows the accumulative invoice amounts stored in the order file to be balanced against the new total invoice amounts. lick File from the menu at the top left and select Display All Invoices by PO#. In the box provided, enter the PO# Number to be displayed and click OK. The selected order will be displayed at the top of the Reconcile Invoices Tab. At the bottom of the screen, a listing of all invoices applied against the order is provided.. lick the Print Report button to print a copy of the order and the applied invoices lick Display Another to display all invoices for another purchase order Page 8

9 lick ancel/menu to exit the Display All Invoices By PO # function Set Batch Number The Set Batch Number function allows you to enter a Batch Number to use for a selected group of invoices being reconciled. lick File at the top left and select Set Batch Number. Enter the Batch Number in the box provided. All invoices reconciled will now contain the selected Batch Number. The Batch Number is cleared each time you exit the Invoice ommission Reconciliation System. Page 9