AP Basics
What does AP stand for?
Accounts Payable
What is a direct invoice?
What happens if you notice that the wrong vendor populates within a supplier invoice?
If already stock receipted - use the creditor field (important to go back in and make sure it sticks)
*ping the PO creator to just give them a heads up to make sure it doesn't happen moving forward.
Invoices & Credit Memos
How do you enter a direct invoice?
Press stock invoice under the AP tab on ribbon, or go through AP browser and enter the PO.
An overhead invoice to discounts earned - we didn't get charged back for a discount, we just keyed it wrong so we will hit that same GL with the overhead invoice to pay them back.
What do you call the process of matching invoices to purchase orders?
Three-Way Match
Do Direct invoices process through CNX?
No, they fail as alerts.
Take an overhead credit to the vendor we paid wrong and code it to COGS with the original branch - pay the right vendor as an overhead invoice and code it to COGS with the original branch.
*The GL will wash on the backend.
Where does the inventory impact live within the three-way match process?
The Stock Receipt.
If you enter a direct invoice and there is a variance out of your threshold, what are the two most important things to do before moving forward?
1. Do not fix costs on directs, if you save these costs or approve it directly impacts the customer sales order.
2.Remove that "ghost stock receipt" - no changes can be made within the SO/PO when that is pulled in.
If you have an invoice with a PO that is not valid, how would you research it?
1. Start with searching by cost.
2.Check the MRNI Management report by Supplier for stock receipts received within that timeframe, or do a search for stock receipts awaiting invoicing for that supplier and branch.
Which account is credited when you record an invoice?
Accounts Payable - (can be called different things but credits AP trade)
Why is it important to process direct invoices timely?
You see a red quantity warning within a supplier invoice, what does this mean and how do you fix it?
It means that the stock receipt is pulled into two different supplier invoices within the browser, fix it by remove the stock receipts and re-adding.
Never approve an invoice with a qty warning.