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Payments»Setting up Thresholds for PO's…
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Last modified on 7/16/2013 3:03 PM by User.

Setting up Thresholds for PO's and Invoices

Overview 

The goal of OASIS in reconciliation is to track the amount invoiced and paid from the order, then to be able to report on any shortages. When users are applying invoices and payments there could be differences in the invoices sales dollars and/or differences in the amount paid in commissions. OASIS has the option of setting up thresholds that allow users to automatically close invoices and PO’s when they are short within a threshold. The following will walk you through the setup and an example. 

NOTE – even if you close invoices and PO’s within these thresholds you can still report on this “amount written off” in the order section of OASIS

First,

Commissions / Invoicing tab (Manufacturer Editor) 

  • Invoicing – settings for average days to paid and thresholds can be set to close Invoices and PO’s by dollars $$ or percentages %
  • Enter the amount using percentages or dollars amounts (be sure to use the $ sign when entering dollars) 

 

Once this is set, then (using the example above): 

  • Invoices will automatically close if the payment is within $20 of the sales dollar amount on the invoice
  • PO Sales dollars will close (total invoices) will close if it is within 1% of the amount on the PO
  • PO Commission – the PO will close if it is with 1% of the amount expected on the PO (earnings) 

Otherwise, the Invoices and PO’s will need to be closed manually if you do not expect to get the rest of the money or do not care. 

 

To manually close invoices and PO’s from the "Payment" screen: 

  • Use the “Close Inv” and “Close PO” check boxes to manually close invoices or PO’s.
  • As a rule, OASIS will automatically close Invoices and PO’s when they meet or exceed what was expected on a PO.
  • Use the “Inv Comm” (amount expected to receive on this invoice) column for reference.
  • Use the “PO Comm” (amount expected to receive on the PO) column for reference.
  • In the example below (first line “INV 1233”), looking at the Inv Comm column we were expecting $97.38. In the Paid column we entered $97.38 because that’s what we were paid on this invoice. Notice the “Close Inv column automatically checked. Looking at the PO Commission column there is a total of $287.50 owed on this PO. If we expect to receive other payments, leave the “Close Ord” box unchecked. If we do not expect to receive any other payments on this order, then check the “Close Ord” box to manually close out the PO.

  • NOTE:
  • Checking the “Close Inv” means we are not expecting any other money on this invoice.
  • Will also pull this invoice off the “Aged Invoice Reports”
  • Checking the “Close Ord” means we are not expecting any other money on this order.
  • Will also pull this order off the “Backlog Report”