Vendor invoices in Workamajig [video]
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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. The 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 & 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 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 affect
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, 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 entry. Having it all in Workamajig just gives you all of that great reporting and keeps things connected very easily.