credit & rebill: managing invoice corrections · credit and rebill from time to time a invoice...
TRANSCRIPT
Activant Prophet 21
Credit & Rebill: Managing Invoice Corrections
This class is designed for
Anyone responsible for handling invoice corrections
Objectives
Review all of the features of Credit and RebillControl invoice corrections in a single screenAudit trail capabilityRetrieve data using old or new invoice number
This course will NOT cover…
Invoice EntryCash Receipts Entry
Credit and Rebill
From time to time a invoice goes out with incorrect pricing, terms, freight, or customer PO numberThis feature allows you to retrieve the invoice and edit the fields that need correctionThe system will produce an new invoice for the customer and forever tie the original invoice to the rebill invoice
Benefits
You no longer have to do an RMA and re-enter the order to correct pricing and/or freightThe system takes care of changes to sales tax, commissions, sales history and other impacted system valuesOriginal item unit and extended prices as well as changes are stored in historyReasons for changes can be tracked
Overview
Sales tax WILL BE RECALCULATEDInvoice notes may be addedPostings take place in the period of the changeATB will display the original invoice up and until the period it was correctedUser may retrieve the invoice using the new or old invoice numbers in cash receipts and drill down windows
Rebill Reason Code Maintenance
Accounts Receivable > Maintenance > Rebill Invoice Reason Code MaintenanceAllows the user to build reason codes to assign to the rebill invoice
Credit and Rebill Window
Accounts Receivable > Transaction > Credit and RebillRetrieve the original invoiceEngage the Create Rebill optionSelect a Reason Code
Required
Credit and Rebill Window
Credit and Rebill Window
Change either the unit price or extended price in the Unit Price column or the Extended Price columnThe amounts from the original invoice appear in the Original Unit Price and Original Extended Price columns
Credit and Rebill Window
Change customer PO number, terms, freight, invoice type, tax jurisdictionsAdd notes if desiredSales reps may not be changedOrder taker is displayed
Credit and Rebill Window
When the information is saved in the credit and rebill window, a new invoice number is created and a corrected invoiceThe original invoice number is forever hooked to the new invoice number
Credit and Rebill
Posts to the period and year on the credit and rebill transaction windowReplaces the original invoice on the aged trial balance in the period in which the corrected invoice was createdPrior to that the original invoice appears on the aged trial balance
Credit and Rebill
You may rebill a re-billed invoice (correct a corrected invoice)If you key in the original invoice number and it has already been rebilled you will get a message alerting you to that fact
Outgoing Freight
Freight code cannot be modifiedIf the freight code is blank on the original invoice then a freight code may be addedThe freight amount can be changed Validates that a user may only add freight to a freight code where the customer is paying outgoing freight
Incoming Freight
Incoming freight may be modified as with any other item on the invoiceIf incoming freight is modified, the system will check to see if commission cost is engaged and will generate a message that the commission cost will NOT be affectedIncoming freight line may not be added if incoming freight was not on the original invoice
Affect on the General Ledger
Debit: Revenue (original invoice amount)
Debit: Accounts Receivable (new invoice amount)
Debit: Freight Revenue if applicable
Credit: AR (original invoice amount)
Credit: Revenue (new invoice amount)
Credit: Sales Tax Liability Account, if applicableCredit: Freight Revenue if applicable
AR Aged Trial Balance
Reflects the proper amount in the proper periodExample
Invoice 12345 for $40.79 is issued in period 1Invoice 12345 is corrected and Invoice 45678 is issued in period 2 for $39.15AR ATB for period 1 will reflect $40.79AR ATB for period 2 will reflect $39.15
Aging still occurs on the original invoice dateOriginal invoice number is displayed on the report
Invoice Document Modifications
New invoice number is displayedOriginal invoice number is displayedInvoice notes added to the new invoice will print if indicated for printing
Cash Receipts
Retrieve the invoice using the original or re-billed invoice numberThe original invoice number appears in the Original Invoice columnThe Find Invoice pop up contains an Original Invoice Number column
Alerts
In the Invoice Entry Alert node a Rebill Created column was addedYou can create an alert when a re-billed invoice is created
Rebill Invoice Audit Report
Track changes using this report
What Cannot be Re-billed?
Invoices in disputeInvoice that is part of a consolidated invoiceUnapproved invoicesIntercompany invoicesDeleted invoicesMemosInstallment invoiceDown payment invoice
What Cannot be Re-billed?
Zero dollar invoiceTax adjustmentInvoices that have payments applied (can reverse the payment and then rebill)Invoice with a memo referencedInvoice with terms taken or allowed amountsProgress bill invoicesManufacturers rep invoice
Rules for Specific Items
Lot bill items May not be re-billed
Service ordersOnly the parts and labor component prices may be edited
Production orders and assembliesOnly the header sales price amount may be edited
Foreign Currency
The exchange rate in effect when the original invoice is credited out will be used for the behind the scenes credit memoThe exchange rate in effect the time that new invoice is created will be used on the corrected invoice
Field Chooser
Through Field Chooser you may add the reason code and original invoice number to the following:
Invoices tab in Cash Collection Call MaintenanceInvoices tab in Generate Cash Collection CallsInvoices tab in CMI
Finance Charges
Calculated on the original invoice until it is credited and on the re-billed invoice amount afterwards
Customer Statements
Original invoice number will be added to the data stream For balance forward statements, if the original invoice was included in the previous balance, then the credit and the rebill will show as itemsIf the original was not in the balance forward, then all three will show as items
AR Drill Down by Customer, Corporate ID, or Payment
Original Invoice column displays
AR Drill Down by Invoice
Inputting the original invoice will produce an informational message alerting the user to the fact that the invoice has been re-billedDrill down shows original and re-billed information
Summary
Credit and RebillRebill Invoice Reason Code MaintenanceCredit and Rebill windowChanges to screensRebill Invoice Audit Report
For More Information…
Prophet 21 Help Files12.0 New Features GuideVisit Activant on the web: http://distribution.activant.com/
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New Features Suite
Version 12.0 System Admin New FeaturesVersion 12.0 Inventory New FeaturesVersion 12.0 Order Area New FeaturesVersion 12.0 Third Party New Features