Make Your Own Invoice for Procurement with airSlate SignNow

Make your own invoice for Procurement

hi in this video we are going to see how to create purchase orders and perform invoice posting in Dynamic 365 finance and operations my name is Parish let's get [Music] started so here we are in our Dynamics 365 fno environment so let me just go ahead and open all purchase orders all right so I can go to my module go to accounts and payables and over here I can see see all purchase orders now you can also access all purchase orders from procurement and sourcing module so if I go over here to procurement and sourcing then under purchase orders I can see all purchase orders so why is it in two place so basically since purchase orders are created by purchase team so it's available under the procurement and sourcing whereas invoicing and posting is done by Finance team so it's also available in accounts pable so therefore you can see the form in both the places so let's just go to account payables and open all purchase orders over here now as you can see that I am under the usmf legal entity and being a buyer I can see all the purchase orders that are created in our legal entity and to create a new purchase orders we can click on new which is going to open a quick view form where you can specify the vendor so here under the vendors we need to choose the vendor account all right so this is actually the company or the person from which we are going to purchase the goods or you can call them materials items Etc so let's just pick up a vend over here Acme office supplies and you will notice that as soon as I pick up the vendor number the name the delivery name the address the delivery address and all such information is automatically populated from the vendor Master data and now let's click okay and over here our purchase order is created now if you look closely you will notice that the purchase order has two sections a header section and the line section so over here if you click on the header then you will see that there is a lot of information so for example under the general tab you will find the purchase order number that is generated the vendor name and the vendor account that we selected the purchase type is purchase order there can be other types as well but this is the purchase order that is selected and the invoice account is also selected based on the vendor account that we selected and so and so forth there are many other information that is available on on the form let's not worry about that at the moment and then there is this line section under the lines we have purchase order lines subgrid where we can start adding as a buyer all the items that we want to purchase so let's just say that we as a company want to purchase surface Pros okay now these Surface Pro we store it in our inventory and then sell it to the customers so we want to place an order for Surface Pro as we are out of stock for this item so how do we select the item well in this item number column we can click on the lookup and we can select the item Surface Pro over here now we can either select it like this or in your day-to-day uh working if you are already aware of the item number you can even directly type it over here and as soon as you tap you will see that uh the relevant details like the product name the quantity the unit unit price and all are automatically populated based on the item details now you will notice that the site is marked with red estx that means it is mandatory so we need to uh select the site and the warehouse columns right now these represent our inventory storage Dimensions so let's just select the site uh over here and then you need to select the warehouse as well okay now what does this mean well site is where exactly this item needs to be delivered and and warehouse is uh where the item needs to be stored so as a finance consultant you may not need to know at this moment at this is part of the supply chain so there's a thin line between supply chain and the finance all right now by clicking on Tab we can move forward in the columns and let's just go to the quantity and specify 100 quantities of surface Pros that we want to order okay now the unit over here is each that is each piece and the unit price for the item is defaulted from the item master and that is the price for each unit and then you can see that the system automatically calculates the net amount so here we have created a purchase order now in the same order if we want to add other items that we would like to purchase from the same supplier then we can click on add line or ad lines and specify the items but let's just say for this example we just want to uh purchase this particular item for 100 units and go forward so being a buyer we want to send a confirmation to the supplier or our vendor saying that these are the items and their quantities that we need and um the price that we agreed on so once you have created this purchase order we can go to uh the purchase tab here and then under generate we can click on confirmation so when you click on confirmation you will typically receive uh a popup over here confirm from the purchase order and you can optionally you know select the print purchase order this will print the purchase order onto the screen so that you can you know save it as a PDF and send it to the supplier so if I select this over here and click on okay so here you can see the purchase order which is printed onto the screen now let's just go ahead and review this so here we can see that we have the purchase order number and also the date uh when we placed the purchase order here we also have a delivery address so that the vendor knows where to supply or send the items to and then we also have uh the vendor information available as well here so going down we have the item information for example item number the quantity uh that needs to be supplied by the vendor and the agreed price uh and everything else so once you have this you can choose to save this particular purchase order as a PDF by clicking on export and you know you can choose the formats that you want to save in or you can directly send it to the printer uh that is available uh in your office through through your network and print a copy of this particular purchase order all right so we printed the purchase order confirmation and let's say after certain time and on a specific date the supplier will send us the material now there will be different roles in an organization so I as a buyer created this purchase order and also printed the confirmation but there would also will be let's say a receiving clerk in the warehouse Department who will receive those items that are shipped by the supplier so as a receiving clerk uh let us assume that we are receiving the items okay so as a receiving clerk uh in this particular purchase order we need to go to the receive tab over here and then under generate we need to click on product receipt now why this is necessary well this is because the receiving clerk needs to record the quantity received from the supplier so let's just go ahead and click on this so on this posting product receipt popup if I go down and uh look at the lines we'll see that this particular subgrid contains the items that we place for order and the quantity that we place for the order is automatically coming as 100 that's what we posted for right now sometimes we may receive partial orders uh that is we placed an order for 100 units but we got 50 units from the supplier so maybe because you know the remaining units will be delivered by the supply at the later point in time so let's just say that we received only 1550 quantity and we will go ahead and process the product receipt so over here you can see that uh this is the quantity ordered and in the quantity received what we can do is we can specify that we only receive 50 units at a time right now please note that in some places you will hear the term Goods receipt note uh grn in short right which is the same as product receipt now you do do not really need to uh print the product receipt because you're not sending the product receipt anywhere however some companies might do it for bookkeeping purposes all right so let's just leave it um as no and then we can just go ahead and process this proc product received by clicking on okay H so we got an error message so let us just see what is that if I just go over here and see the error message so the error message says that we need to Prov provide product receipt uh for this particular order and that is this particular column product receipt which is missing so typically what happens is you get a delivery slip from the supplier and the goods are delivered to your warehouse and that delivery slip will contain a delivery slip number or a delivery note number or it's also called packing slip number all right so one of these things and that is the number that we need to enter over here in the product receipt column uh this is actually important as this would act as a reference number between our organization and the supplier all right so let's just say that um the progressive number was uh something like this so how does this help well um if you have any issue with one of the items that we received okay for example then we can contact the supplier and say dear supplier we received only 50 units of the item on this particular date and with reference to the product received number pr001 and one of those items is damage so could would you please have a look into it right so something like that so it will be useful for reference when we uh have a communication with the supplier all right so we have provided the product receipt number again the product receipt is not part of the finance we are processing this as part of procure to pay cycle and to have an a good understanding of what this means so let's just go ahead and click on okay to post our producty and now you will see that uh there is no error message and it's getting processed Okay so our product receipt is posted and we can proceed to invoicing now before we proceed to next steps just to note few things over here now the information of every step that we are performing over here will be tracked what do I mean by that so for example we just did a product receipt for this particular purchase order so if you look into the receipt tab under journals if you click on product receipt this will show you the product receipt journal and it will show you the information that we process so for example example this was the product receipt number and if we go to the lines of this particular product receipt number you will see uh that this is the item and uh we ordered for 100 units and out of which we received 50 so all this information is maintained in the system for tracking purposes okay so we have received the items from the supplier right so the receiving clerk after receiving the items normally signs the document which comes from the supplier uh that is the delivery slip and someone from the supplier side will carry that delivery slip and give it to their Finance team and that is how uh we will receive an invoice from the suppliers finance department all right so let's say we received an invoice from the supplier uh which is nothing but a bill and as a buyer we now need to pay that bill for the items that we received so as an accounts payable in my organization in in the buyer organization as an accounts payable clerk I can perform the invoice posting for which I will go to the invoice Tab and then I will click on the invoice now before I click on the invoice um notice the common pattern uh which is same all across so under purchase you had confirmation and under receive you had uh the product receipt similarly under invoice you have the invoice button right so let's just go ahead and click on the invoice button so here is our vendor invoice now I will not go into the details of various Fields over here but you will notice that uh here as well we have the header section which has a lot of information and if you go to the lines you will notice uh this column called number now here is where we enter the invoice number so being an accounts payable cler I have received an invoice from the supplier which will have that invoice number and that is what I'm going to provide in this particular column so let's just say it is something like this and again this is a unique reference that we will use for communication with the supplier so we also have invoice State now typically you do not need to mention this if you are processing the invoice on the same date uh which is the system date you know sometimes what will happen is that we receive the goods let's say yesterday but we are processing the invoice today so in that case we can uh provide provide uh the invoice date here and also you can provide some invoice description in this particular column as well so let's not change anything for now and uh if I go to the lines and see that we received 50 quantity of the item and this is what we are going to process right so um what I'm going to do is now I'm going to post uh this invoice so I can click on post and we get an error over here now this is an error message which is related to invoice matching validation now this is an interesting topic which we will cover in detail in upcoming videos but what this basically means is uh you see this column over here match status it says that it has not been performed so for now just understand that uh when you receive this particular message then uh just click on update match status and what the system would do is it will put the math status to past so for now let's just go ahead and post this invoice cool now you can see that the purchase invoice has been posted and you receive a message saying the vendor invoice posting process is complete for the vendor 10001 and this is the invoice number for which it is being processed so with this our posting of purchase invoice is complete now again under invoice tab uh under jours you will see this invoice button so if you click on this you will notice that all the steps that we have taken has been tracked as well so you will uh see under the invoice Journal you will notice uh the uh the invoice number and if you go to the lines you will also see uh the invoice details that has been posted that is for uh this particular item and this much of quantity okay so let's say after a few days you know you receive um the remaining 50 units of the item that you have purchased so in that case you will follow the same steps that means you will do a uh purchase receipt and then you will process the invoice for those items and when you do that you will see another line over here for that particular invoice number uh that you process now if you're from the accounting background you must be looking at you know what happens to my accounting entries so for that uh you know you can select this um uh line in the invoice journal and if you click on the voucher it will show you all the entries that the system generates now if you're are following this video and uh after clicking on the voucher you do not see these entries it might be possible uh you know uh that the subledger general entries are not transferred so you can go to the Microsoft link over here I will post this link in the description below and just follow the steps and then you will see all the voucher numbers which are uh available here okay so we are not going to go into the details as of now but in a nutshell based on the configuration you will see different postings in your um voucher transactions okay so this is um your typical vendor uh balance posting type where your accounts payable gets credited and your inventory or your cost of purchase materials will get debited so you can just ignore the remaining one for now these are like the offsets uh for the product receipts we will discuss them in detail when we discuss the invoice posting so this is all for this particular episode I hope this video helped um thank you for watching and we'll meet you in the next video please do not forget to subscribe to the channel uh share this and also like bye for now