Vendor Invoices (Video)

Transcript

When vendor invoices come in, we need to
make sure that we can enter those, and sometimes
they're associated with projects
that we have purchase orders for.
So being able to apply those purchase orders
right to the vendor invoice and reconcile those
is very simple to do on Workamajig
First thing we're gonna do is just select that
we're going to enter a vendor invoice
and we're going to select which vendor this invoice is for.
Once we put in their invoice number and save,
that will then look for any open items
associated with that vendor.
So if we have purchase orders that we've approved.
or even pre-billed those are gonna show up
to now apply
to the vendor invoice that we've just entered.

When those vendor invoices come in and there's
on lines selection with a little plus sign,
I'm gonna select the plus sign, and it's gonna
let me know that I do indeed have open purchase orders.
If I select that, it will give me
a listing of all the different purchase orders
that are available to apply
to this vendor invoice.
You'll notice each one of these purchase orders are
for different projects we can absolutely
put a variety of purchase orders
on one vendor invoice
and not worry that they're not going to effect
the project's properly for financials.
Each of these purchase orders can also be updated
So if the vendor invoice came in
and the numbers don't match,
I can easily select that line and
make any adjustments to make sure
that we do have an exact match,
and the vendor invoice will read correctly for payment.
If, by chance
that shortage or overage
is something that's going to be reflected
in another vendor invoice that might be
coming later, we can leave
the purchase order open
to then reflect the difference.
If it's an overage we can ask the system so then,
include that in the billing portion of that project,

or we can choose to
write that portion off.
Having all this information
in one area will make it really easy
to make sure that purchase orders
are getting closed properly,
and we're not gonna miss out on any billing opportunities
if costs are coming in at a higher value
then we anticipated with the purchase order.
We're also going to get
good reporting knowing
what kind of quotes and purchase orders
are we getting from our vendors
compared to the vendor invoices when they come in.
If we have some vendors that they're variance
is off by quite a bit regularly,
we may want to reconsider using them the
next time we need that type of enter.
Having it all in Workamajig
just gives you all of that great reporting
and keeps things connected very easily.