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Invoice agreement for Support

hello and welcome to another tip on Maximo I'm your host Chris Winston from projectc here in Charlotte North Carolina today we'll take a brief look as contracts as the source for invoices please note this is just a primer to help you along with your exploration of Maxima and is no substitute for formal training remember if you have any additional topics to request please send an email to Media at pro.com for sources of contract-based invoices there's quite a few and the invoice creation path varies widely or perhaps wildly from one contract to another as a reminder remember only inter negotiated contracts in Maximo when they are final if you're still negotiating no need to have a record in Maximo let's take a look at the different contract types and how the invoices are produced we'll start with labor being the most different the labor contract application is where you enter all the parameters for the contract but the actual creation of invoices takes place in labor reporting not in a contract application at all and from here you will in labor reporting filter the records that you want to have uh the labor invoices created on confirm they're approved or approve them and create the invoices on demand no payment schedule really as uh an option and each of the individual labor transaction records will record the invoice number so you know it was invoiced and what invoice is a reference lease and rental contracts allow you to build a payment schedule setting the basic parameters before approval but scheduling payments after the contract is approved in Maximo the payment schedules may be set up for individual assets and invoice separately or as separate lines on the same invoice service contracts are set up in the warranty contracts application and allow you to build your payment schedule before before the contract is approved it is the actual approval of the contract in Maximo that triggers the generation of the invoices last but not least purchase contracts allow you to set set the payment schedules before approval purchase orders against these contracts become the medium for the invoice generation the purchase contracts have the most flexibility on scheduling for your payment schedules Additionally the invoice generation is based on the approval of a purchase order based on that contract or a receipt of goods or services to a purchase order again based on that contract and you will make that decision when you're setting up your payment schedule as to which you'll prefer for the trigger let's take a look in Maximo and we will go ahead let's go with labor reporting first we can uh this one's actually short so I'll actually show you this the rest I'll show examples that are already done but in this case I would filter out uh labor records if they're not yet approved I can then go ahead and approve them and of course once they're approved I can then choose to create an invoice or invoices would help if I would select them now I can see these will be individual invoices there are two separate vendors involved I can consolidate work order if I need to if there were multiples in this case since there are multiple invoices anyway it doesn't matter uh hit okay and those invoices will be created now if I want to go back and take a look at [Music] them on the detail record and labor reporting I will see the actual invoice number and of course in this case not in every case but in this case I can hyperlink to the actual invoice review the details and so want so uh again labor reporting probably the most unique uh place where you actually create your invoice uh your other contract based invoices will generally be handled at least from a parameter standpoint and in many cases of creation either in a contract application or in purchase orders so let's get out of here and let's move on to our next contract we'll look at lease and Rental and I've got one to look at here and let's take a look now for lease and rental contracts we'll have individual cost parameters that we'll need to set up when we're creating a contract and as you'll get to the end of this we'll see actually how this rolls out in terms of the actual payment schedule moving on into the properties Tab and we want to make sure our payment schedule checked off which will of course allow us to create uh the payment schedule on the contract lines we'll have one or more lines uh representing and once it's approved of course you can add assets and within the manage payment area you'll be able to see the actual uh schedule and in this case is just setting the the schedule parameters which you if you've scheduled reports or KRON tasks and you've seen this language before uh and if you're not familiar with it there's an actual dialogue for it in the icon which I just can't happen to reach because of change the resolution on the screen here uh just to make things look a little better but you can get access to this in in a more useful manner uh the scheduled lines indicating each individual asset that is covered under release and then you'll be able to see the payment details which would then of course generate the individual invoices so and then again you have in this case the the four invoices uh coming out at the individual different time frames about approximately every 3 months based on the schedule [Music] parameters listed here we everything every 3 months and based on the main tab so finding the number of payments and again here's where you can see your schedule all right moving on to take a look at service contracts now service contracts are handled in the warranty contract application and it's just the contract type is listed as service so over on our properties tab we see we have our payment schedule and it should default to being checked when you CH switch to service contract or warranty contracts you won't have payment schedule as an option we'll have our individual contract lines uh that would be specified and within the select action we have manage payments which will again we have the schedule uh that we've seen before in terms of how they are scheduled to generate and then from here the individual invoices have as you can see have generated specifying their due dates um off into the future and these would typically be generated in this case once the contract would be approved moving on to our last area being purchase contracts and we've got one here as well so within our our purchase contracts probably the most flexible and which could be a good thing or bad because it can be a little bit more complicated but again properties tab allowing us a payment schedule uh individual contract laines and then in giving us access to the payment schedule for the line now in this case we have a little bit different in terms of the trigger on how the invoice and when the invoice is created uh it's based on an action in this case you'll see the first based on the approval of the purchase order and then any subsequent invoice would be based on receiving against an approved purchase order so you have the option to choose either one as a trigger uh approval of the purchase order or the receipt you want to make sure that when you're creating the order uh that particular order references the contract and also has the lines you approve about the lines of course you won't get the trigger involved because it is looking specifically for that line or those lines that you want to have from the contract um beyond that you have flexibility around each amount of the payment what percentage of the whole that you'll have for each individual schedule lawn uh you can also specify different number of days from the start of the process going forward um through to the end and the last payment maximum will require you to have all your payment percentages add up to 100% but as far as the time goes uh you can specify irregular intervals uh for each of the individual payments they don't have to be every 3 months or one month or you can have them at 10 days 20 days 80 Days 150 days you know whatever is more useful for you and in this case we see that uh the first invoice has been generated based on PO 1122 being approved so again and actually let's take a look at purchase order [Music] 1122 and you can see here it references the individual contract uh we'll have on it the individual line and it was the approval of this purchase order that actually generated the invoice so keeping in mind again contracts very powerful portion of Maximo uh introduced with version six and they are very robust in terms of their ability to handle both payment scheduling and just in general generation of invoicing it is however different depending on the contract type that's involved so you just want to make sure that you keep that in mind that can be uh a significant factor for you in in terms of utilizing the application just kind of as a reminder here uh for your labor contracts again you're going to do your generation in the labor reporting application for your lease and rentals uh you'll set your parameters before you approve identify the assets afterwards and build a schedule uh after approval of the contract um service warranty warranty application but the contract type of service and you'll build a schedule before you approve the contract it is the approval of the contract that will generate the invoices and last the purchase contract uh for your contract lines you can build your payment schedule before approval uh but even after approval your invoices don't don't generate until the actual trigger fires which would be based on whether you've chosen purchase order approval or receipt uh for those invoices uh thanks very much and again you have additional topics to requests please send an email to Media pro.com thank you