There are a couple different ways we have found to handle a situation
like this (supplier under ships the quantity):
1.) Epicor told us to: a.) reject the supplier invoice b.)
tell supplier you only received 995 and they need to re-invoice. c.)
wait for the re-invoice and do not enter the original or delete it if
you have already entered it.
Because of timing factors and SOX / GAAP issues, documenting of all
transactions for later retrieval and dispute resolution with supplier,
we have chosen not to do it this way. Plus it takes a heck of a lot of
extra communication and admin time dealing in this manner with the
supplier.
2.) Short pay the invoice by: a.) changing the invoice
amount, so when receipt lines are brought into the invoice there is no
variance. This too has SOX / GAAP issues, but is obviously less admin
intensive. Since the Vantage payment statement/check stub has limited
data there is no way to add comments to the invoice that appear on the
check stub (unless you customize that form) and usually the suppliers
are not happy when a short pay has no info. to explain what is going on.
We are using option #3:
3.) Pay the invoice at full amount, then create a debit
for the shortage on the quantity. We prefer to handle matters this way
as it has the most documentation and at the end of the day less admin
time dealing with supplier complaints.
Do this by brining in the receipt lines to the invoice; this creates a
variance due to the qty discrepancy. Then add a misc. invoice line for
the difference. This extra lines keeps the original receipt intact for
audit purposes. We put a note in the reference field on the misc.
invoice line that states the debit memo number. I believe the reference
field is printed on the pay stub, so this ties both transactions
together when the supplier sees the payment.
This method also allows us to do reporting on supplier fulfillment, and
reporting on supplier metrics related to debit activities.
Matt Sweny
Purchasing Manager
Modern Industries Inc.
814-455-8061
matts@...
________________________________
From:
vantage@yahoogroups.com [mailto:
vantage@yahoogroups.com] On Behalf
Of Hatcher, John
Sent: Tuesday, July 08, 2008 7:15 AM
To:
vantage@yahoogroups.com
Subject: [Vantage] Re: AP invoice entry
Yes - we found that checkbox. Our main concern is on the accounting
side.
1. we enter the actual amount received of 995 and mark it complete.
(let's say this differs from what was ordered due to the size of part
and use of counting scale).
2. accounting receives an invoice for the 1000 pieces. We want to
post it with 1000 pieces. It all nets out in the end with various +/-
entries.
3. when we do this the system sees that 995 were received but 1000
are being posted and wants the other 5 accounted for. We want to be
able to tell the system "forget about it!"
Any suggestions?
John A. Hatcher
Manager of IS
Versa Products Co., Inc.
(201) 518-5948
(201) 843-2400 x4148
(201) 843-2931 (fax)
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