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Musician invoice example for Procurement

[Music] hi and welcome to the next video in the set regarding purchase orders this one was all to do with recording an invoice against a purchase order so this very much assumes that you've already raised an order and had your deliveries recorded against it so the final stage in that particular process would be to record the invoice that you've just received from your supplier normally this process would begin by you receiving an invoice from your supplier so on that invoice you would expect to find either the purchase order reference number that you supplied them in the beginning or perhaps maybe even the job reference if it's the same thing but that would be your own process that you have with your suppliers so you'll be able to identify it with some form of reference number so i'm going to go with the purchase order number in this case today so i'll begin by looking for that order by simply doing find purchase order and then in the reference containing here i'm going to just simply type my reference and here we can see we've got the one result and we can click on the reference to take us into the purchase order so if we scroll down we can see here that we've ordered and recorded our delivery and the only step left is to record our invoice here so the invoiced value at the moment is currently zero because we haven't done it as yet at the top of our purchase order sheet you can see we've got the record invoice button and this shows us the details of the purchase order the reference and we've already completed some of the data but we'll begin at the top here so what we're going to do is we're going to enter exactly what would be shown on the invoice that you've just received from your supplier so first of all confirming that this is indeed the correct order that you're supposed to be in so comparing that against the order uh invoice that you've got in your hand then you'll be recording the invoice number so somewhere on that invoice you'd expect to find a invoice reference from your supplier that goes here as you can see this is a unique value it must be unique if it isn't it'll tell you you won't be able to proceed until it is unique the tax point date is the date shown on that invoice so using the date picker of course you can then change that to be the date that's shown we do default to today's date the next field here this one may caption ever so slightly different in your system depending on how you've got your system set up but what this is for is just the nominal code that you want to send any rounding discrepancies that occur between the header and the lines so you might find that there's a couple of pence here and there you might well want to attribute those to the rounding errors nominal code just so that there's somewhere that those could be housed and finally on this top section here we've got payment due date this is when the supplier has said they want their payment by and that would normally be shown in their payment terms on that invoice we now move on to the the numbers so this yellow section here is the totals the the the main numbers on that invoice so at the bottom usually of your suppliers invoice will be the subtotal the net value v80 and of course the gross and maybe even any discounts that are applied to that invoice and then of course above those on your invoice you'll get all the order lines that exist as well so what we need to do is we need to put exactly what is shown on that invoice onto this screen here so we've assumed when we press our record invoice button that this particular invoice is going to be correct so what we would look at on we would compare the two and we would make sure that the gross value of 42 pounds is the same the v8 is the same and if there was a discount you could add it here and again this is the lines that are shown on your invoice so if your supplier has sent you the same invoice for what you had as a delivered item you would expect to find that it would match up now sometimes that is always not the case that you can you can often get discrepancies between the invoice and what you actually had if that is the case then that's up to you how you want to deal with that but you really probably would you'd enter what they've sent you on this screen and then deal with the querying with the supplier separately and then you might even credit that invoice off and re-raise it depending on on what they've sent you this case here if let's say we change this as i said the invoice said 45 pounds instead of 42 and we said say for example here and that was 40 pounds what we would expect to see is can you see here we have a rounding issue this is where things don't match up between the header and the lines and this is warning you that this doesn't quite marry up now of course you could simply ignore this and push this through for payment and that's all okay or you could record it as this put the purchase order to a status where you're going to query it with the supplier and then you would deal with that however you would normally deal with your supplier and then redo the invoice when you get it but i'm going to assume that this is all good i'm going to put it back the way it was and everything is back to normal and i can now assign it to a nominal code if it's not the correct one on here and i can obviously make sure that the vat code is is okay once i'm happy i simply press continue and now as we can see the purchase order has now gone to a status of fully invoiced and if we scroll down here the bar chart for the invoice is now complete and we now have the ordered delivered and invoiced values all matched up nicely here and if we scroll further down we can see that the sections for the invoices are also here as well one final thing worth mentioning now at this particular point now our invoice has been recorded against this purchase order this won't get passed for payment if you're exporting your transactions into your financial software it won't get passed until the particular invoice has been passed for payment within our system so you can see here that it shows a status of unpassed so that means that if you were to do your invoice exporting and send out your purchase invoices this one won't go because it hasn't been approved yet so if we click on our home button to take us to the dashboard we can see how this process starts so on our dashboard i've got a purchase order here that doesn't have a cost code that's very deliberate so we can see it straight away this is a unpassed value of 35 pounds which if you remember that's the value of our invoice so if we click on that we can see here that we've got the opportunity to add any comments and provide statuses that we want to push this to so we could move it to a status of refer to supplier or queried if we were going to quibble this invoice with our supplier but if we're happy and we can pass this for payment we can simply choose past and then press continue to move that to a status where it will allow it to be exported from our system worth bearing in mind though at this point the users that can do this have got special privileges set up in their user account so it may well be that you can't pass invoices for payment or if you can maybe you can only pass values up to a certain amount so if this process doesn't allow you to proceed then you may well need to consult with your line managers and get your permissions increased on our system so i'm going to pass this one so you can see here we've got it set to past and i press continue and that has now been done successfully as you can see there are now no more past invoices and if i was to press on the home button now we should expect now that the past value is showing at 35 pound and it's no longer unpassed well that is the process for recording an invoice in the system and also the bit at the end there where we showed how to pass an invoice for payment if you've got any questions on any of this at all then do feel free to give us a shout we'd be happy to help you you