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Contractor invoice for Inventory

the benefits of using purchase orders and subcontracts with presenter alen cross just a couple of housekeeping items before we get started everyone will be in listen only mode so if you have questions please type them into the questions box on the screen and we will address them at the end of the session if you need to step away please do not put your phone on hold if you have c music it will play for the attendees this webinar will be recorded and we will email a copy out to everyone within a few days I will now turn it over to you elen good afternoon everyone um thank you for joining us for today's uh webinar the benefits of using purchase orders and subcontracts for stage 100 the agenda today are we're going to cover some Basics on why we use the purchase orders in subcontract and show you a little bit about the parts list and then we'll go over how to complete the purchase orders it's contracts and how they tie into your accounts payable to get started why do we use why do we need them why do we use them um internal control is very important it helps you control how your money is spent you you specify what terms the conditions the scope of work once this document is signed by both parties it becomes a legal document uh it also helps you track your job cost in your commitment so you know where your budget is at all time and you can also identify errors before they become an issue the purchase orders can be created very easily from your request from proposal screen which is your 611 screen you just go right at the bottom you can create your purchase order your service receivables if you do have that module again you can create them very easily when you hit your options you can create your purchase order right on the screen from change orders again you have the button at the bottom or at your options you can create your purchase order based on what you've put in here you can also create your subcontract or modify your subcontract right from your change order screen and if you have the estimating you can uh from your takeoff screen you can export directly into purchase orders by job base change order or task and you can uh export to subcontracts also by job and job and PID from there you import into accounts payable as soon as you enter the purchase order or the subcontract number your accounts payable screen fills with the information a part lit uh not everyone likes to use them but they can come in very handy you can create your very own parts list customize it or sometimes your vendors are helpful they want you to use their parts so they're going to send you their list in Excel you can load that very easily into Stage 100 to the 96 window you do not have to keep inventory to keep a parts list the purchase orders are a document that you create that tells your vendor and your supper what you want to purchase for material how much you're paying for it um where you want it delivered how you want it delivered by their truck you picking it up and you can also control what dates you receed the material the purchase order screen is 661 when you first go in you want to check your options at the top of the page that show you warnings and autoc close um you can determine if it's going to be a regular or a Master Po a master PO helps you to Stage deliveries on a large purchase you'll fill in the top of the screen with the standard information and the grid um using your description or you can access your parts whichs from that grid and this is your purchase order screen what it looks like um we'll we will look at that a little more in detail sub contract is a document that you create outlining the scope of work and this can be very important because you want to detail the scope how you want the work to play out the cost of the job your schedule and your terms again when you go to the um the 671 window this time you check your options to set your warning um you fill in the top screen and then the grid your description and the window like they look very similar but there are some differences that will'll go through so um at this time I'm going to show you how to create the purchase orders in the subcontract from your stage menu if you keep it on your projects menu excuse me they they may be right on your main screen or you can access from your list on the side we'll go to the purchase order first when you open your purchase order this is your options button I was talking about you can set over budget warnings and this is very helpful um to be able to track some of those um early alarms that might um prevent some accidents you can set a warning you can set no message or not allow it you can set different tolerance levels sometimes you want to give a little bit of leeway there for tax or delivery or you can set no tolerance another option is to automatically close once all the materials been received against a purchase order you can have it closed automatically so that when it's entered again on the account table side it will flag that it's closed and you can also have it open your job schedule when you change the scheduled date here so we're going to create a purchase order number 10 this will automatically uh default to the next number in line if you have your system set up to default to the next number it prills with today's date now we're going to go to our vendor list and we have our vendors are set up very well to show us what we're looking for in particular So today we're going to use a concrete supplier and we'll go over to our list and grab the concrete supply company now as soon as I did that my description filled in this came from this vendor record and it also told me what type of purchase order I'm going to create which also comes from the record and that's a list that you can create I can identify a person that I want to uh have this go to or I can leave that blank and here I can grab my job so we'll work on the school today now the next thing I do online is in my description I like to put a little more information so that I can identify from my lookup list what I'm getting it's only a little bit of space but it does help you a lot looking up parts or looking up your documents we're at the Wood Elementary School we don't have phases on this job but if you did you would be able to Sav your purchase order the same as all your other expenses and budget information you can pull in piece of equipment you may use on here we're not going to use equipment and that would be if you had the equipment module and you track your equipment this cast list comes from your project scheduling and there's different items you can pull in on your schedule my tax District came in when I pulled in my job because it knows where I'm taxing your approved date is the date you receive this approved and one thing that I suggest is when you receed a signed document back you can go right on our little paperclip here scan it and attach that document so that you have your signed copy attached and you know where to find it at all times the scheduled date is the date you are scheduling this delivery and the delivery date you can come back and actually put in the date you received it these are really good to keep track of your material the Via is a little list you can create this yourself how you want it um their truck your truck maybe you have it UPS delivered and then your terms now over here we have the status and I spoke about a master poo you can create a Master Po and that um that would be for a larger job maybe you have a large quantity material and you want to release it a little at a time you would create a master purchase order the ordered by is going to fill in from your employee list brings you to a drop down you can just grab the employee and fill it in and this address is the job site address on your job record if it's not going to be delivered to your job you may want to change its address sometimes you have it delivered to your office you want to make sure to put that because that will print on your document now the parts list that spoke of if we go out to our Part Source we can just grab some concrete Pull It in we're going to get the five stack concrete purchase that's our part number it fills in gives us our unit of measure which we can't override and it gives us our price so maybe it's not that price that day you can override it on on the document itself but I'm going to go ahead and order five cubic yards the your date once you youve received some invoices against it it's going to track what you've received to date you can always commit and see where you stand on this purchase order if it's not um build all at once or delivered all at once the current column goes back to your master once you create a master purchase order you'll come into that Master and you'll order your quantities by filling in the current and what that does is creates a new purchase order for just that amount your cancelled is if you reduce the amount you want you change your mind later it keeps a track of where you are the cost code and the material again because we keep good vendor records here these F from our vendor so the purchasing purchasing department doesn't have to think about the cost code the cost type or the account number they're all going to fill in once your vendor is created and these are defaults again you can override them if this day he's not doing Cask in place we're doing some po Mark we can change that based on the budget and what you know you're ordering this material for it goes it knows which general ledger account to go to the inventory location is again if you're keeping in inventory if you're not we can hide that we don't want to show that inventory location and you can save it that way um our sub account came in from our job it knows that this job is in our California office and then as usual we have userdefined Fields where you can fill in information you might need that's not already showing these notes are associated specifically with this line item where these notes will show at the bottom of your document you can have you can print the do the sort of with both large notes or small the large notes you might want to put a general scope maybe you want a little more information on your line item so you can put a little more in your notes here to describe that concrete maybe a little bit more so we're going to save this purchase order and we'll come back to it in a little while but right now we're going to go and create our subcontract and it's pretty much the same thing if said we start here with our and we're going to pull going to need the same job we don't have phases again and you see it's automatically numbered but let's pull in a vendor and again we'll go to our list where we have a nice source for concrete subcontractors we're going to find a concrete subcontractor who will help us with that purchase we just made a material we'll pick concete company now immediately I got flagged that his certific Cate of insurance is expired and again this comes from our vendor record we can set up all the certificates and it's it's good to know this because you don't want subcontractors on your job with expired insurance it then becomes your insurance problem if something happens um ours will stay expired because the data is a little old so um now again I'm going to add my job at the beginning just to make my sort easier our cost division are based on what you set up in your cost codes it's it can sort it by the division and again you're going to have your cost code fill in below but you may want to sort just all your concrete subcontracts and that gives you that ability the date pre-fills again and again you get your approved date back when your subcontractor signs and returns your document and again you can attach theine document it's a good idea because then you know where everything is your scheduled start and finish dates you can have those print on your subcontract so that right up front everybody knows when you're going to start when you're going to finish you can also come back in and put an actual start and an actual finish and this is good to know because if you're on a on a job where you're getting penalized for delays you might want to know if it's somebody else's fault and this is a good place to keep track of these dates your status will be usually current you can have it out the same status as your job if your job is under bid your subcontract may be at bid and again this fills from your vendor record along with the description of work that he does if there's a bond on the job performance or bid you can track those amounts and if you're holding retainage you can put that here the whole button will come back too the my description fills from above I may want to put a little more description or leave it and again my cost code and my cost type are filling in from my vendor record this is original subcontract is the amount that we're paying you notice that it jumps right over your changes in your subcontract because these are going to this is going to come from your change order document and this will compute itself based on your original any changes this invoice is also grade out it's going to track if you are invoiced partially it's going to show that on the document and what's remaining and again we have our user defined end notes if you want to additional information so we're going to save this and come back to it so next now that I have it saved if I had have any invoices or changes on it I can look at them right from here rone it this time the summary window opens up and just shows us quickly where we are but the one thing that I was talking about with the description and the reason I like to use more description and you'll see this in the accounts table also if I look up my current subcontracts and I just have a generic description I don't know what that's references I can sort by job and these are all the ones on the one job or I can look it up by my vendor number but sometimes you don't know these job numbers or vendor numbers but you do usually know the name of your job so if I put wood in there I'm going to come right to my wood jobs and I can pull that right back in that's why I like a little more description there it helps so that's the subcontract from there we're going to take a look at how they tie into the accounts payable when we enter their um our invoice number then we're going to enter the purchase or subcontract number and you'll see how the information pulls right in and makes your accounting much simpler there's also the check mark where you can go back and check that balance and you can pay partially and your cost will reduce the commitment on your commitment report at the same time it will show you how much you've spent the date so let's go to the um we're going to go back to stage and we're going to go to our accounts payable invoices 4-2 window and from here we're g to we'll just type in any inv number so we were working in purchase order number 10 so let's pull number 10 in so now every everything is here for me I know what job it is I know who my supplier is I know what they're doing on the job not that I care in accounting what they're doing on the job I just want to make sure I know how much the billing mean that it's correct you have your invoice date which you can put today's date the default for the due date and discount date pull from your vendor record again this status it's either open or under review or executed we're going to leave that open and it's part of the contract again we always have our user defined but we're not concerned with the accounting we're concerned with how this purchase would have pulled in so here's my part number my concrete it automatically told me I ordered five cubic yards at this price and this is what my bill should be if it's not I know right away that I want to hold this bill and not and you know question it it also calculated my sales tax because it knew the um the district you can override that if it's off a little bit you know sometimes it's a penny here Penny there now it's going to tell me I manually computed so it won't compute it in the future it also tells me it's going to my material account and my sub account the location and serial number again have to do with inventory so we're not concerned with those uh and along with ala part number now what's nice here is if I go to save this I'm in a different posting period so that's okay it's going to open my job cost window where I can Prost this if I want to or it's going to prefill what is in my purchase order but because I know that this agrees my invoice is exactly the same as my purchase order I can immediately just job cost and save it and I'm done with it I don't have to go through looking up things and finding different information now because I had the vendor make sure they put the purchase order on their documents I didn't have to look it up but if I did this is another way where to look up help now I have all my vendor number and the information from my purchase order and if I don't know my purchase order number again I would come over to my my description maybe they put what job it is or what it is I can look it up again usually you're going to have your documents your purchase orders and subcontractors identify the job and their contract number on their invoice one or the other should be there and that helps you to look up the purchase order so that's the purchase order now we're going to do the subcontract and same same same window we're going to put a number in and here we're going to hit as soon as I got my subcontract from the one we used it Flags me again this guy hasn't sent in his insurance certificate yet so what are we going to do well from here we can go right out to his subcontract and we can place his um invoice on hold we can also add a little note here and then anybody looking at his document is going to know that we're holding because we have no insurance so or you can override it um again everything fills in our job what he's doing our invoice date we can put the due date defaults from the vend record again and the discount date it's open so here we have maybe he's only done half the job right now or we're going to pay him half up front we can change that we're only going to pay him 50% of his contract right now so we're going to save that and again we can just automatically job cost it because we know all the information is correct now this is flagging me that I didn't have a budget for that but I'm going to save it any any way because we just added that budget and my transaction dat is wrong so now when I go back I can look at this little check mark here and it's going to give me that subcontract summary so I have my contract amount no changes new contract how much is he build me today and he's build me 50% so I know right with that window I can also go out and look at a subcontract and it's going to show me those amounts here so that's how you fill out the um that's how you tie your um accounts payable with your sub contract and purchase order and how it reduces uh the chance of Errors the next thing we're going to do is look at some of the reports that we can get from the purchase orders we'll go on to our menu and under 662 we have a list of purchase orders there is a lot of purchase order recording here but we're just going to look at the first one we can condition that report and we just want to look at that one job so we're just going to click right out for that job and we'll do a print preview up on the screen now these are all the ones we've done and they're sorted by the by this is our purchase order number they're sorted by record number the order that they will put in uh but there's other reports and sorting methods right now we can drill down and look at that now here's the one we just created it's very quick and easy to look at a standard list and then drill down from that list to see what you've got and looking at any one of them you can see if you've been built to date or where each one stands subcontracts we have a very similar report in the 673 and again we have many choices so we're going to condition it just to get our full job and when we do the print preview there's our list and again this is the last one we did was subcontract number 924 we knew it was toer we can drill down and have a look at it and we can see that will 50% on that job on that contract and these these are all printable reports or you can just open it and drol down you can save them on your desktop screen and one last report we're going to look at real quick is under 612 is our committed cost report and this is going to show us on jobs where we stand from our budget and changes to what we spent to date what we've committed to date and what we have remaining so we did some concrete work here we have cost to date and then we have a negative committed cost because we have a subcontract that doesn't equal what we've actually spent and then we had our supplies that we purchased it's the wrong one but that's the basic idea you can drill down and look and see what you've got in here and what cost codes you've Ed and where you are on each cost code sometimes you need to do a little adjustment to your budgets or find out why you're over or under budget and you can look right into it and see right from this window going to drill down and take you these are all my cost and I know why what what I've spent and why so in summary U your cost reports are going to be much AC much more accurate because you're accounting for your committed cost in addition to the cost what what you've already spent your committed is kind of a placeholder for you it makes your accounts payable entry much easier there's not questions unless it were over budget or you're it's flagged that you're over budget you can catch when you're over build if you use the master purchase orders for a larger projects you can stage the delivery and you control that you can also hold the subcontracts if there's an issue so that they don't get paid accidentally do you have any questions um the first question is can we create a blanket purchase order to cover things such as dumpsters Portable Restrooms Etc yes you can um but they would have to be to different vendors when you create your um purchase order it's specific to that vendor so if you wanted to issue it you could do one and um probably I would create it to yourself and then you could just list these items separately here with the cost codes you get a multiple cost codes but your vendor would be um your vendor is purchase order specific so if you wanted to have them uh one for dumpsters and track that vendor specifically you would have to do each one individually so there were two ways around that by creating it to yourself you would have a placeholder does that help okay so the next question is the PO question if I have several invoices for the same PO is that when I would want to set up a Master Po would this allow the PO to remain open for each invoice I enter yes either that or when you create your purchase order as you receive against it you can Rec you can receive partial quantities and it will keep it open until youve receed to every item so as long as your purchase order is filled out completely inaccurately with every item you're expecting you can receive multiple invoices against it okay the next question is in subcontracts can you set quantity unit at Price no if you need to do that on a subcontract then you can and some people do use their purchase orders for subcontract if you have to have that kind of detail then you would use your purchase order next question is if you only pay a partial amount of the purchase order how is that entered in accounts pable as you enter your accounts pable invoice when you enter your purchase order we would come down and just receive you can either receive this is not a good example because it has um one quantity but if you receive um if you had order two and you receive one or you would change your price usually you're going to have a multiple quantity here and you will just put how many you received and that will track what you received okay that was the last question if anyone else has a question please type it in is the tax District linked to the address on the purchase order or the job in case delivery is to an office in case delivery is to an office in one state New Jersey and the job is in another such as PA the tax is linked to the job record but it can be overridden on the um invoice can you show how the taxes the taxes is job cost how the taxes job cost it depends on where you put it on your um if I can find one there a blank one something to help um kind of hard to do quickly that way it's going to depend on where you if you've set up your taxes to job CL I don't know if they will um but it's going to depend on what CL code you use you can either set it up to go to your cost code or you can set it up to go to a general ledger account but it will cost with your material into your uh cost code line item okay the next question is are purchase orders strictly for materials and subcontracts for subcontractors no it's recommended to use them that way because what happens when you get to the change order um a purchase order unless you've created a master purchase order is going to be used one time a subcontract you're going to have change orders against it so when we go into a change order uh we create the change order we can change our subcontract right on here you pull up your vendor or the subcontract related to that and track the changes to that subcontract whereas with a purchase order you're going to create a new purchase order with new material changes okay the next question is can you review entering a purchase order from the job takeoff from the job takeoff yeah close the windows and we'll go to take off so this is window 95 you pull your job in and we have this broken out into items so we'll go to our concrete since we're favoring concrete today we export purchase orders you can do by job by job and phage change order and task so we're just going to do by job now it's telling us um may know correctly we recommend you update but we're just going to go ahead and do it now here it ask if we want to include the subcontractors and we're going to say no because we're just doing purchase orders at this point we can check on or off who who we want to create them for and we'll export them and tell me I'm exporting all the selected items and yes I'm going to continue so it's complete so now when I go into my purchase orders now go back to my take off window we're still on the wood elementary school I'll open the wrong screen here we're going to open the purchase orders and we should have a new list now I have done seven and eight so here's our purchase orders that it created and it shows us here the sources from our takeoff it's filled in my job number and I have one for each of those companies that were listed in my purchase order and now from here I can go up and I can issue this in one batch I just going to send them as many as I pick for that batch to be sent out did that help okay the next one is is how to enter a purchase order for items that are in a quantity of one by the vendor vendor quantity one of 25 pound cylinder that's in parentheses that has one item is a cylinder of 25 pounds refrigerant and refrigerant is used by transferred I don't this is very confusing I need to share this with you I just made you organizer can you see the questions