PO Reconciliation
- Stephanie Dixon (Deactivated)
- Andres Toledo
Overview
You can manage and reconcile payment transactions through the PO reconciliation screen.
In this screen, you can manage your vendor payments, check and modify remaining balances, upload invoices, approve invoices, and keep track of these transactions through their statuses.
Summary screen
In the summary screen section, you can reconcile and approve your vendor invoices. The following is an explanation of the elements that you can see on the PO Reconciliation screen:
- PO#: Purchase Order number. Also, you will see right next to the PO the Standing Order (SO#) that associates with it.
- Vendor: Name of the vendor company. You can verify the method selected to ship items in the Ship Via column and; the Carrier used.
- AWB: Air waybill associated with the Purchase Order
- Arrival date: Date for the PO items to arrive at the company's warehouse.
- Additional charges USD: Extra charges that a PO can include, such as Box charges, Freight, fuel, handling, documentation fee, among others.
- PO total USD: Total amount of money to pay to a vendor, and the Vendor Invoice Total USD column shows the total amount of money from a vendor's invoice.
- Vendor's Invoice: Vendor invoice numbers associated with a PO. You can associate and upload a copy of the vendor's invoice that matches a PO and keep track of it through the Vendor Invoice Status into its different statuses: Pending Approval by Procurement (AP), Pending Approval by Accounting (AA), Approved (A), Paid (P), Sent to External System (ES), Failed (F), and Synchronized (S)
- Qty Boxes: Number of boxes agreed on the PO.
- Qty Conf/Received: Number of boxes confirmed (Conf) and received at the company's warehouse.
- FBE: Full Box Estimation amount.
Columns from the PO reconciliation screen
Net balance calculations
You can reconcile your vendor invoices and obtain the net balance of invoices to pay using the calculation columns:
- PO Amount USD
In this calculation, you will obtain the total amount of a Purchase Order and reflect amounts after charges adjustments.
For example, We are reconciling payments from The vendor Agricola Vidarrue. This vendor has a PO amount USD of 1,176.47 and some Additional Charges of 150.00. With this calculation, it is possible to obtain a PO total of 1,326. 47, and the difference (PO total USD - Additional Charges USD) is the same one obtained from PO Amount USD.
- Vendor Credits Total USD
In this calculation, you will see the sum of credits that are associated with a Purchase order.
Credit status
The credits made to a PO need to be in status Finalized for the system to show this calculation in the PO reconciliation screen.
- Balance
This calculation displays the remaining amount to pay off an invoice.
For example, We continue reconciling some payments from the vendor Agricola Vidaurre. The PO has a credit of 326.47 in favor from a PO Amount USD total of 1,176.47 that after some adjustments have a remaining balance to pay of 150.00 as shown in the following example:
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