Streamline your sales order management in legal agreements

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all right so speaking of trade uh purchase and sales agreement so we'll go to sales and marketing and here we'll find our sales agreement so we have sales orders that we've covered we have sales quotations that we'll be covering after sales agreements and sales Agreements are also present here and it's it's exactly same we have those four types you know product quantity commitment product value commitment category and value commitment so everything is you know exactly same here so I really don't think that we we need to talk much about this but anyway we'll go through the whole process once more so that it gives you a good sort of revision so obviously purchase agreements and sales agreements they are tied to a specific customer and specific vendor so we need to choose our customer uh let me choose any Random Customer let me say 7 C's so also you can have a kind of classification if you want to classify your uh sales agreements in some sort of groups or so that you can have a better reporting that what are these agreements from various classifications like blanket agreement or anything as such so you can just you know you can have that also so sales agreement classification is available let me say it is class one I just created it yesterday you can create it you can have as many classifications as you want and then you can group those agreements into the classifications also if there is some specific customer reference number you can type that as well so let me say 1 2 3 there's a document title if you want to have a specific document type uh title so you can have that as also for example if you want to buy some specific item so that you know that document title should show uh in the front in the Grid in the grid View so you can have that also so let me specify a document title any external document reference if there is any such you can specify that and the same we have here so all these four commitments so product quantity commitments will ensure that you are making this sales agreement for a specific item number and for a specific quantity over a period of time let me say any item number 1 2 3 so then the line will ask you to specify the quantity and the unit price so the net amount will be calculated automatically so this is the product quantity commitment product value commitment means uh the uh the agreement will not ask you for unit price or uh for the for the quantity only you are able to specify the value there for example let me say I'm going to buy an item for for $50,000 so you can have whatever unit price you want and you can have whatever quantity you want only the tracking of price will be there the the net amount so that is product value commitment category means category value means again it's a value commitment but from a certain uh procurement category so you can have you can have for example raw materials consumables these are the various um subsections of any procurement category in a typical uh implementation so from a specific category for example let me say a category raw material has 45 products so if you specify the product value commitment a product category value commitment it means let me say $50,000 of a specific category so you can buy any of these items but only from that particular category and it's not of type quantity but of type value and value means any item from your system of a specific value let me say if I specify a value commitment of 20 ,000 it means buy any item any quantity only $20,000 um up to $20,000 is allowed so these are all the uh various types of commitments which are present for purchase orders as well as sales orders so nothing nothing new here so I'll select product quantity commitment because this is what 99% of the time that we do plus if you don't want to specify expiration date on every line so it's better to specify the expiration date here so this will automatically copy onto the header and then onto the lines you don't have to specify there again and again so with this I'll click on okay and same our header View and the line view so every form in a every order type form in a is of you know the same uh the the same type it's the header view which have the settings pertaining to the whole of order and then we have the line view so here we can see that expiration date is already copied and status is on hold to make sure an agreement is activated it should be in effective state so we'll click on now this is the time to add the item so I think we created this item so we'll make a sales order for the same so let me specify the site and Warehouse here and uh let me say a quantity of uh 100 P es and if we specify a unit price of let me say 600 okay so now we are able to specify the quantity and unit price and this net amount is calculated automatically if I remove this one if I type the product value commitment you'll notice that I will not be able to specify the quantity and unit price the VM seems to be running slow am I audible guys yes you're a okay there seems to be some kind of issue here yeah I think it's working fine okay so product value commitment is if I specify the same product you'll notice that I'm not able to specify these fields are grade out the quantity is grade out also the unit price is grade out for me but I can specify dollars let me say uh $2,000 worth of this particular item so this is how the product value and product quantity will differ so you'll have to specify and it will track only how much how much value is released delivered and invoice instead of quantity okay so but I've rarely seen any customers using this type all of them are using always the product quantity commitment so let us run through product quantity cycle let me say a quantity of 100 a unit price of 700 and I want to specify a discount of let me say 12% on every piece so with that the net amount will recalculate we have all the information that we need and now we want to make this as effective so we'll click on confirmation which will generate a sales order confirm uh sales agreement confirmation and a general will be created also you can generate the default report from there so if I click on Mark as agreement so one more thing guys you will always have the option to print the report directly from here usually I'm telling you to go to confirmation and click on print but you can directly print the report from here as well so it will make the agreement effective it will create a sales agreement confirmation and always Whenever there is a kind of confirmation General you directly have the options to print report and you can set this to print on screen as well as uh print on to some destination printer using the print Management Facility so since I've clicked on print report now uh this VM is a little bit slow but anyway it will try toate uh print the report so right now the destination is screen you can set uh from this destinations you can set a file you can set it to a printer then you can select the list of printers that are available in your domain so then instead of printing on the screen you click on confirmation and a report will be generated on the printer so this is our sales agreement confirmation report so all the information is mentioned here effective date expiry date and everything that ever that like a discount person unit price and the full amount so once once we've confirmed our sales sales agreement also if you want to make some additional changes then you can reconfirm it again and all the confirmations will be saved in the sales agreement confirmation along with the version histories so once we do that now it's time to release a sales order so same way in purchase order also we used to release from here so we can click on release order and we have to specify what quantity you want to release let me say I want to release for now two quantities once we click then we all we have to do is we have to click on create this will create our sales order let me navigate to the sales order all sales orders so operation completed and we'll have sales order 1481 created so 1481 this is the sales order that we created right now if I click open it I can see that a unit price of 700 is defaulting now this is defaulting from the uh sales agreement and not from the item card itself because item card is having some other Value Plus a discount percent of 12 so plus you can also go to the general and you can have a look at the attached sales agreement so this will give you uh if there is any kind of sales agreement that is attached from which the pricing is Flowing so this is the sales agreement also a very nice way to go is through product and Supply I think me show you [Music] financials sales s line there's a very nice way to see the details of the pricing bomb line supplementary item let me see where that is inventory there there is a button called price details which will show you all the breakup of the prices canot find it here I don't know why [Music] okay price details I'll make sure to show you in this next session and this is an important form he used to be on the sales order line I don't know why it's not showing up here WR order line events M it's used to show you every breakup everything that has been attached to the sales agreement or if it is a trade agreement it will show you the breakup of that anyway let's move forward really cannot see that one here okay no issue so guys uh this is how like we we can release this uh sales order from the sales agreement so any kind of doubt or question in this it's very much like the uh purchase order release so this was like the sales agreement the exact replica of purchase but for the customer yeah any sort of Doubt Nelson and Krishna here oh no no oh there's there's a very nice form which is called Nine details I don't know why it's not going up here but usually um I think uh can you go down there is something right line details um yes pricing and discount price and discount price and discount will show you everything uh but uh that was a firm which used to tell you that what are the trade agreements linked what are the what are the any any other prices or anything else such which is linked because of which this it will give you uh the exact way why this price is Flowing here you know on the so that's a very nice form so anyway I'll I'll show it you in the next session so this is the price and discount will give you the what is the amount of discount that you have so that is all so nothing uh new here so this is how guys like uh the sales agreement is created usually product quantity is the one which is which we create a lot almost every time so as as homework you have to create a product quantity commitment and a product value commitment rest of the things will be exactly same you can see in the uh sales agreement that under the Fulfillment that remaining quantity is 92 released is two so if you you know if you if you pick and pack it then it will the release will become zero and this will become two and if you invoice that packing slip this will become two and rest of these will become zero also release order lines you can see what are the orders that are released till now so this is how the things will keep going on okay so right now we have only released one sales order so it is giving us the that number of on that sales order number if you want to release another we can release that and then we can carry on with our processes let me say I want to release sales order of 87 if I click on this so now our release quantity it is nine we can see in the release order lines that we have uh total release of we have released a total of two sales orders all right two and seven in this way so anyway this was pretty much easy for you cuz you already know what purchase agreement is now let's start with sales quotation a very important uh very important topic as far as sales is concerned uh Nelson and Krishna do you have any idea what a sales quotation is yeah you give the the it's it's like a draft of a say order that they give to the customer exactly just as we have the request for quotation because now as a company we are buying raw materials and we know that multiple vendors can provide us the raw materials so what are we doing we are giving them uh uh you know just asking them the prices so that process is called request for quotation which we covered in Pur is the sales quotation is now now imagine that you are selling your item all right so if someone is asking you the prices then you are giving them quote so that is basically sales quotation because you want to sell at your designated price so this is the reason uh it's like the reverse of purchase sales quotation means now someone is trying to buy from you and what will they buy on the products that you are selling so then they'll ask you the prices for example you you can give those products and there are some other people also maybe your competitors so even they are giving that same product so what uh that person who wants to buy either from you or from your competitor then he or she will be asking you all right give us the code then at that time you have to give your quotation so if your quotation gets accepted which means what that that person is accepting your request for quotation which means he will be creating a purchase order soon which means your sales order is going to be created very soon okay so this is just like the this is like the process where now you are acting as a vendor for any other person so you are the vendor now which means you will sell the items so the steps will be very much simple you will provide the sales quotation so in their system it will work like request for quotation if they find your pricing and your like whatever you are giving if they find it like okay we we have a deal there so if they find it okay so what will you do you will confirm the quotation so confirm the quotation so we will confirm the quotation which means they are accepting our request for quotation so we will confirm the quotation then what is supposed to happen after that obviously uh sales order should be automatically created because our our quotation is confirmed which which means our quotation is accepted by the customer and we as a vendor so we will confirm our quotation and our sales order will be created or maybe that that person decides to buy it some from someone else so he will reject our quotation so in our system we will click on lost quotation and our process will stop there the quotation will be lost okay so is this process clear to you Nelson and Krishna uh yes yeah okay okay so now let us see how to create sales quotation so again we'll go to sales and marketing sales quotations we'll click on all quotations the first step is to create new quotation also one more thing we can create quotation for our existing cust customers so we'll click on customer and we can create quotation for the prospects like for which we haven't made any sales order yet in our company's history so a prospect can also be there and just the way you create customers you can create prospects and you can look from the various prospects here so there will be a difference now now for example uh if you want to create a quotation for a prospect so you created it and uh that that new new possible new customer said okay we will buy it from you so here we will have to convert that Prospect first into Customer because otherwise sales order will be created for whom you cannot create a sales order for Prospect sales orders are meant for customers which are existing in your system so there will be additional step and the step will you will only need to perform that step if your quotation is accepted otherwise if it is lost there is really no need to create it into a customer anyway it is not a customer yet okay so we'll walk through both of these processes one by one we'll first create it using customer then we'll create it using Prospect so customer now I want to select my customer let me select any customer so this is my customer so I want to all right now click click on okay if you want to specify other things you can specify those now let me say that person who wants to buy us he's asking for the item price of this item and he's he said that he want to buy 12 pieces so now we are giving our quotation right now we are saying okay we have $700 per unit and we'll give you a discount of let us say 5% okay so we have something here we have discount and discount perc discount means uh unit price 700 if it is then uh unit price will convert to 695 so that is a discount if you want to specify a discount percent you can specify discount percent discount percent means 5% of 700 so you can specify whatever you like so this is uh the deal that we can give Max to Max only These Are the discounts that we can give so once you do that uh you will click on Save and click on send quotation this send quotation is basically what what we are doing is we are sending the quotation and in their system they are receiving the repes for their request for quotation are you able to correlate what I'm doing right now yes yeah okay but both of them should have the same system right uh see they can have totally different systems or different erps this system is not linked to their system I'm just telling you since suppose suppose they are having Dynamics 36 I'm assuming they are having both Dynamics 365 so that you can correlate request for quotation and sales quotation because if I'm processing request for quotation means someone else is giving me sales quotation yeah you know so since you already went through the process of request for quotation so let me say now once I click on send so basically I sent my uh replies so in their system system let me say they are having any Erp but anyway what are they going to do they are going to enter the replies what I sent because these replies some other people are also going to send it my competitors probably okay yeah so we send the request for we sent the quotation now let us uh now let us say after six or 7 days or whatever their timeline was uh the vender vendor rejected our quotation okay that no so he accepted someone else so what we'll do is we'll navigate to followup and we'll click on lost quotation here because now this quotation is lost and it will not be converted into a sales order so we'll click on lost quotation you can have various reasons specified so maybe it is because of the price uh so you can spec this is a master data you can specify whatever reasons you want for reporting purpose so let us say someone else offered a better price so click on okay the quotation is lost and you can see the status has lost and everything gets grade out here because then there is nothing else more to do okay so now we'll try to win the quotation so what I'll click is I'll click on the customer let me select any customer I have a doubt okay we do we know the reason like you know reject the yes sometimes you know and some see when you are working with your close competitors you any way you you you get a lot of information about them most of the times the bids are open so basically you are talking other people are talking and sometimes the bids are closed but that time you are not able to know the price so depends on various scenarios maybe price is not the only reason maybe the delivery time is reason when they are asking on on a phone call they had a conversation and they said we really need the surgent max 2 max 3 days delivery should be in our plant in within 3 days and we are like we are making a Manu facturing or trading or doing whatever but we really need a minimum of seven or eight days so even in that case you know we we will be losing the quotation so there can be multiple reasons sometimes you know a lot of reasons when you're working for years and years in a competitive environment you know lot of things about your competitor you exactly know at what price are they going to offer and why they are going to offer okay yeah so let me select a random customer what was the name of that customer it was we created yeah so I'll select this one and now we'll try to win the quotation we'll enter our item item number and we'll say so let me say a quantity of 12 was asked and this time let me give some good prices uh discount of uh 12% so this is the price and now we'll click on send quotation quotation is sent status is sent and now let us say the customer the customer is saying okay we'll buy it from you price and everything looks good so now what we'll do is we'll click on followup and we'll click on confirm and cancel means you want to cancel it on your own there is no specific reasons you just want to cancel it so the process will stop here also but if you click on confirm you'll notice that um it is again asking you uh you can make it mandatory or not that okay so whatever the reason reputation whatever let's say our reputation seems to be very much good because of which they agreed you can click on okay the one quotation updated to confirmed which means our sales order is created now for this specific customer if I navigate to all sales orders we'll have our sales order created I think this is the one the quantity of 12 same unit unit price whatever we specified and a discount percent of 12 so this is like you know how every everything is done in sales quotation it's really a very simple process and nothing much to do only go you know you have to think the way in which the business operate these are the exact steps what business will take so in this way our our sales order is Created from a sales quotation so any kind of doubt or any kind of issue in this process Nelson and Krishna no I'm good okay so now we'll try to we'll try to create the same quotation using Prospect because there you'll see convert to customer field will be uh will will be activated because that is a prospect here it was it was never activated because we are already creating it for an existing customer so now what we'll do is we'll click on new let me select a prospect I've never done business with this Prospect let me say it's Falcon retail so but in order to enter we need to set up the prospects right yes just create the prospects the way you create customers you can create the prospects also in system like nothing new you have the customer card you have the prospect card and as many details as you put on the prospect all those details like names and everything else this is directly copi to the created customer then you can edit the customer also before proceeding with the creation of sales order okay so I selected a customer and uh sorry a prospect then I clicked on okay so let me now say that we are going to sell this thing a quantity of 14 let me say okay I specified it here quantity of 14 now let me say unit price of 700 and and now I'll click it first I'll do is I'll click on send quotation the quotation will be sent only if it gets accepted then only it makes sense to create it into a customer right so now they are saying that now we can see that this field is activated now because if you want to and this is the activated there's a reason for that unless it converts to a customer the system will not allow you to confirm it because as soon as you click on confirm which means sales order will be created but right now the system doesn't know for which account are you going to create sales order unless the system gets the exact customer account the button will be disabled so if you are not going to convert it into customer first you cannot click on confirm but anyway you can click on lost and cancel so that is totally fine and that makes very much sense we never did uh business with this Prospect so we can still cancel it and we can lose the quotation but to convert it into a uh sales order we need to convert it into a customer first we'll click on click to customer just asking convert Prospect this to a customer yes so a customer will be created all the details will be copied you can addit those details if you want so see a customer gets created 006 it have all the details for example the customer group and all of these details are copy it from the prospect so you can uh you can edit these now or you can make some other kind of changes whatever you want to make before creating a sales order maybe you want uh uh to add some sales order defaults or anything as such so after doing all that now if we navigate back to now we can say this is grade out why because customer is already created now you'll not be creating customer again and again from the same Prospect so now I can click on confirm if you click on confirm now it's asking you okay the reason yes the reason you can specify and you will see that you have another sales order created for the new customer that was created in between the process and that is for Falcon retail and we have this one here so this is the sales order created so in this way you can create uh the sales orders using the sales quotation uh using Prospect and using customer you know it's very simple process you just have to think the way in which business operate so I just told you what exactly is happening you are create you are sending a request you are sending quotation in their system Let Me Assume any Erp so they are asking first they asked you uh you know uh the price which means they asked they gave you the request for quotation you gave them sales quotation as soon as you gave them the values of lines in the sales quotation they entered those replies then after some time they made have they might have done something like comparison or comparative statement so they accepted your quotation means you will win the quotation here so you can confirm the quotation confirmation means what sales order has to be created otherwise what is the meaning of confirmation lost means quotation is lost so this is how like the sales quotation works so any kind of issues and doubts Nelson in sales quotation no it's a pretty straightforward yeah right so it was straightforward okay no issue with that so guys and now we'll be talking about the trade agreements and the reason why which we use trade agreements plus we'll be making trade agreements um um for various types okay and prior to that I think we can take a quick 10 minutes break and then we'll be back with the trade agreements okay till then you can recap whatever we've went through okay so I'll I'll catch you in 10 minutes