improving payables processing with acclaim...
TRANSCRIPT
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Improving Payables Processing with Acclaim 14
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Overview
Enter invoices before material has been received in the system“Match” invoice to PO once material is receivedChanges…
New company & vendor optionsNew menu optionsNew reportsNew autobatch
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This class is designed for…
Current Acclaim users who are new to Acclaim 14 and process payables
Payables ClerksAccounting ManagersControllers
Trading Partner Connect/EDI users that receive payables electronically
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Objectives
• Set up company & vendor defaults• Process vendor invoices before receiving
material• Match purchase order to vendor invoice
after receiving• Reconcile receiving and invoiced items• Use new reports
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This course will NOT cover…
Payables ProcessingMaterial ReceiptsMaterial Receipt ReconciliationLedger AutobatchesTrading Partner ConnectEDI
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Background Information
Company OptionVendor OptionsNew Terms
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New Company Option
Zero Cost Var DescUsed with non-stock items with 0.00 cost
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Vendor Defaults - Prior to Acclaim 14
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Vendor Defaults - Acclaim 14
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New Vendor Defaults
Release status can prevent invoices from being expensed and/or paid
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New Vendor Defaults
Release status can prevent invoices from being expensed and/or paid2 phases of reconciliation
ReadyAuto-HoldHold Rel
None
Status after Reconciliation
ReadyAuto HoldHold RelHold Exp
Initial Status
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Status After Reconciliation - Ready
Initial StatusDescriptionStatus
Payable can be expensed and released
Payable can be expensed, but NOT auto released
Payable can now be expensed, but NOT released until manually edited
After reconciliation, payable must be manually updated to another status
before processing
Any
Hold ExpHold Rel
Hold Exp
Any
Ready
Auto-Hold
Hold Rel
None
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Processing the Vendor’s Invoice Typical Flow
Purchase Order Created
PO received by vendor
Material shipped & Invoice Created
Material Received
Payable Entered in Acclaim for material received
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New Flow
Purchase Order Created
PO received by vendor
Material shipped & Invoice Created
Material Received
Payable Entered in Acclaim for material received
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1st Scenario
Purchase order for 3 itemsOne Payable for all 3 itemsAll material received after payable entry in one receivingNo discrepancies
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Purchase Order
Purchase order with 3 items
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Payable Entry
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PowrDrill - Invoiced Items
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Invoiced Items
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Invoiced Items
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Invoiced Items – Select All
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2nd Scenario
Purchase order for 4 itemsPayable for 2 of the items
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Purchase Order
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Payable Entry
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Invoiced Items
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3rd Scenario
Purchase Order for 3 itemsPayable entered with NO reference to purchase orderUpdate PO to payableCost difference on non-stock item and 2nd item
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Purchase Order
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PO Pend
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Update PO on Payable
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Update PO on Payable
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Update PO on Payable
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Update PO on Payable
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Update PO on Payable
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Edit/Delete Payable
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Invoiced Items
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Invoiced Items Detail
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Invoiced Items Detail
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Invoiced Items Detail
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Invoiced Items
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Match Receipts to Invoices
Match receipts to invoices after material has been received Can review ‘possible’ matches with the Receipt and Invoice Comparison Report“Match Unreconciled Payables”
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What Determines a “Matched” Payable?
What is the invoiced quantity?What is the invoiced quantity?
What is the received quantity?What is the received quantity?
What is needed to reconcile
vs.
What is available
What is needed to reconcile
vs.
What is available
If Qty Available >= Quantity Needed
“INVOICE AND PO ARE MATCHED”
If Qty Available >= Quantity Needed
“INVOICE AND PO ARE MATCHED”
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Example of Matched Payable
System will match invoice to entire first receipt and one item from the second receipt
PO # - 1000500
Qty Item
5 3M 10033
PO # - 1000500
Qty Item
5 3M 10033
Qty Item
1st Receiving 2 3M 10033
2nd Receiving 3 3M 10033
Qty Available 5
Qty Item
1st Receiving 2 3M 10033
2nd Receiving 3 3M 10033
Qty Available 5
Vendor Invoice – 1033443-001
Qty Item
3 3M 10033
Vendor Invoice – 1033443-001
Qty Item
3 3M 10033
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Receipt & Invoice Comparison
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Match Unreconciled Payables
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Match Unreconciled Payables
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Matched vs. Unmatched
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Matched vs. Unmatched
Quantity received is less than invoiced quantity
Qty Var
Discrepancy between invoiced value and expected value
Cost Var
Invoice is correct and nothing needs to be edited
Match
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Match Unreconciled Payable
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Match Unreconciled Payables
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Material Receipts Reconciliation
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Reconciled
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Reconcile Invoices
Can use a macro to reconcile matched payables during daily backup
Depending on parameters, the match screen can take a long time to processCan check reconciled invoices through reconciled payables list
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Changes to Existing Reports
Aged Payables ReportExpense Journal
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Aged Payables Report
STATUS parameter added to report
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Expense Journal
“Include Held Payables”
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New Reports
Receipt and Invoice Comparison reportReconciled Payables report
Unreconciled Payables report
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Receipt and Invoice Comparison Report
Displays what receipts exist for a purchase order and
what vendor invoices have been
entered for that purchase order
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Receipt and Invoice Comparison Report Parameters
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Receipt and Invoice Comparison Report - No Line Items
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Receipt and Invoice Comparison Report - Line Items
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Reconciled Payables Report
Displays reconciled payables and the receipts that were
reconciled against them
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Reconciled Payables Report
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Reconciled Payables Report
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Unreconciled Payables Report
Similar to Unreconciled Receivings ListThis will show all payables that have been expensed but NOT reconciled
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Unreconciled Payables List
Entries removed when payable is reconciledWhen committed, creates UPAC autobatch
![Page 66: Improving Payables Processing with Acclaim 14erpcustomer.epicor.com/downloads/wbt/AIPPWAnotes.pdf · Status After Reconciliation - Ready Initial Status Status Description Payable](https://reader030.vdocument.in/reader030/viewer/2022040306/5eb7d3bdcc13dd14e9599e59/html5/thumbnails/66.jpg)
UPAC Autobatch
Unreconciled payables cannot hit G/L inventory because system inventory does not include materialReverses postings to inventory accounts from payables on EXP autobatchCredits inventory account from EXP autobatch and debits accrual accountCreates a reversal batch in the next period
![Page 67: Improving Payables Processing with Acclaim 14erpcustomer.epicor.com/downloads/wbt/AIPPWAnotes.pdf · Status After Reconciliation - Ready Initial Status Status Description Payable](https://reader030.vdocument.in/reader030/viewer/2022040306/5eb7d3bdcc13dd14e9599e59/html5/thumbnails/67.jpg)
UPAC Autobatch
![Page 68: Improving Payables Processing with Acclaim 14erpcustomer.epicor.com/downloads/wbt/AIPPWAnotes.pdf · Status After Reconciliation - Ready Initial Status Status Description Payable](https://reader030.vdocument.in/reader030/viewer/2022040306/5eb7d3bdcc13dd14e9599e59/html5/thumbnails/68.jpg)
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![Page 69: Improving Payables Processing with Acclaim 14erpcustomer.epicor.com/downloads/wbt/AIPPWAnotes.pdf · Status After Reconciliation - Ready Initial Status Status Description Payable](https://reader030.vdocument.in/reader030/viewer/2022040306/5eb7d3bdcc13dd14e9599e59/html5/thumbnails/69.jpg)
Summary
• Set up company options• Set up vendor options• Process invoices• Run new reports