Discover a Supplier Invoice Example for Security that Simplifies Your Billing Process

Supplier invoice example for Security

generated supply inverse for 50 usd however we got to know the goods or services which we brought out for from a supplier those are not a pro as per the standard the goods we got the supply inverse we created for those goods but those goods are damaged now we want some deduction in the payment we are surprised that these goods are not proper these are damaged so we need some reduction in this so deduction is like we are decreasing our liability our liability is getting decreased liability the amount which we had to pay to supplier now as decrease in liability it be known as the credit memo so whenever there is a decrease in liability we will known as a credit memo okay so decrease in liability and for that we will so the first payment the actual payment we already recorded that supply invoice has been created and uh transaction details are in system those accounting details transition it is has been posted to the ledger now when we are going to ask like we do not want to pay the whole amount we need some deduction and again we have to generate a invoice invoice of minus amount minus amount because we we have to we will be paying less amount so that will be a adjustment and we will create a adjustment invoice how we will create this let me show you there is a task create supply in voice adjustment so first start proxy with teresa why we do start proxy because logan again the role of accounts payable data and this specialist that we have given to teresa this is 8.3 now task is create supplier invoice adjustment sorry select your company and supplier first now we have already indicated adjustment so increase ability or decrease liability we will pay less amount so decrease liability why we are doing this damaged goods there are multiple reasons why we want this adjustment some additional charges so additional charges are like increase in liability that supply is asking for more amount name is goods uh we will pay less amount duplicate invoice so we have already paid but another again the same invoice was created so we need that adjustment miscellaneous other so these are few reasons wrong item shift we want some adjustment date like today then reference go to the reference invoice for which invoice you you are adjusting this we have only one invoice till yet so select out that invoice if not then there will be multiple inverses you have to keep remember like against which invoice you are going to create this adjustment if not then select the invoice check out the details open this inverse check out the release and then select we have provided the reference invoice now scroll down and this switch item we are doing this let's say we created our item what was the amount of that item about just provide the unit of measure so that was the amount three now how many goods or how many items were not as per the standard so we purchased 20 if you remember yesterday we purchased 20 let's say we'll say five lunch boxes were damaged so how much amount we need to adjust we provided 15 again need to select out these uh vertex under which division so yesterday we selected two division because we had two lines one other services and then technology over which division that was we got the wrong item so we said that our other services division we could not get a standard one call center now when we created but from call center there was a custom validation which was asking for a training center so we need to provide training center as well demo training center we selected out that and now hit submit it should go to error i believe the process has been successfully completed check out the accounting details it is successfully completed or approved that doesn't mean accounting is successfully completed or accounting is proper open the supply invoice click on the related action of this magnifying glass go to accounting click on view accounting it is posted that means our configuration of api account posting rule set is correct if we were missing any account in apr then the status would be error it will not be in the posted status now check out the accounting entries so fifth are the same account seven two seven five thirty dollar were debit from this one we had two lines so thirty and thirty sixty dollars for debit from this and sixty dollar credit in payables now the reverse entry has been created in adjustment and fifteen dollar has been debited from accounts payable and again credited to account seven to seven five is it okay guys any question in adjustment or supply invoice akash why the 15 isn't credit tower was it credited to earlier i mean sure so yesterday uh we purchased 20 lunchboxes each lunchbox was having three dollar cost now when we provided a adjustment we said your quotes are damaged that means lunch boxes are managed how many lunch boxes are damaged we provided a value five five lunch boxes are damaged so the overall cost for 5 boxes is 15 yes that correct however when you go to the second tab in the screen the 15 should get adjusted to demo course cost rate okay in the adjustment we have adjusted 15 uh dollar we have debated 15 sorry we have credited fifteen dollar that should affect in the weave accounting view accounting for supplier invoice right so the 15 we have credited in the actual account from which we debated yesterday let me yep so can you please come again i'm not getting you what uh you are asking okay we have credited 15 now why this 15 is not reflecting in the original entry the original entry still says 60 dollars this is no no no so original entry if it will be different uh reflecting in the original entity then my we will have a different accounting okay okay i got you all right when we run the console data report it will uh you know sum but here we will have a separate journal entry always okay so general entries and accounting entities will be created on each transaction okay that these are the standard the balance amount in the actual account that will be again uh added so if we will check the balance amount on the account and if you run that report 45 45 only for our account receivable when we run the consolidated report yes correct account papers yes okay [Music] uh now after account uh sorry supply inverse adjustment the next one we have supplier invoice recurring so recurring supply invoice now why we create a recurring supply invoice let's say we have a broadband line in our office or for our client for our company that broadband provider or that internet provider isp charges some specific amount per month so that amount is fixed uh almost time is also fixed every month they are asking for the payment or every month they will they are getting the same amount in that case similar entry has to be created each month so the option is either manually create these entry again and again provide the same details or create a template with the fixed part or the fixed it is and on transaction date just generate a invoice from that template so how we will do that first we will create a template template fixed format or with the fixed details for that task is create recurring supplier invoice check out the company supplier default payment term is here let's say name is lunch this a identifier type of name training lunches fixed or variable would that amount be fixed or there can be some variation in the amount so we'll say we are providing a fixed amount every month frequency type monthly by monthly bi-weekly semi-13 what will be the frequency or annual so we said uh monthly we paid over isp so this option is also there when we are doing this transaction weekly semi annual quarterly monthly daily by weekly or annual what can be the frequency so all options are here we selected monthly effective date from when it should be effective let's say i'll put just for today first invoice date i would say the first invoice has to be created tomorrow so first invoice will be created tomorrow not today what we are doing effectively we have provided but invoice will be created from tomorrow and data so end date will be the same date but in the next year so we have the subscription for one year what we did first university will be created tomorrow and the last invoice will be on the same date but the next year so we have provided this subscription for one year not the one even it is like 13 installments so might be here uh 0 9 so 12 installment we have to pay for our isp provider is it creative here guys any question related to this detail how we create a template so we are providing all data at this moment at the time of creation of the template now coming to the line um here what i'll do item is like our lunchboxes and you can say this is installment like uh we have this this training session regularly for 12 months will be paying the same amount we are purchasing 10 lunch boxes and will pay for these 10 lunch boxes every month scrolling to the right what will be the quantity every time let's say 10 lunchboxes 10 lunchboxes every time we will be purchasing amount is coming now again the similar work tax select out your work type for which division we are calling this out let's say for financial services this time for financial services we have a regular training sessions every month call center which call center will be allocated for budgeting this course center will be uh on the transaction lines now demo training center we have created a custom validation that we have to provide a training center tag as well which training center is being used we have provided attaining center name as well after that just hit submit and the that template has been created it is successfully created approved if you want to check out the other days you can go accounting is not there because accounting has not been created we have created a just a template not a transaction at this moment we have just created a supply in os template we have not created a supply invoice that's why you will not see accounting right now these are just details which are required to create a supply invoice once supply inverse will be created from this template then you will see accounting lines on ledger account the recording details is not in the pdf it should be fine but akash is not there in the pdf that they shared with us okay okay we're using uh you know workday financial management version 32 pdf might be i need to check out that i have the previous version so 32 i'll ask for 32 and we'll let you know but even if it is not uh good to know how we do this we have 32 has removed couple of topics from the newer version just from the curriculum of financials so from 32 or might be from 30 31 version they removed couple of topics from the workplace training material financial training material they have removed some topics but it is good if i can even leave this but might be a good learning part for you okay but workday itself has removed those topic from that new version that i know can you hear me all right hello integration also you have any reference book for integration also uh no i do not have four integrations at this moment any online site or we can refer where we want to check just search out workday integrations training or videos i think you will get it either some youtube videos or somewhere you you'll get it okay you'll get it the integration specific uh material okay so one more thing again that will not be in your 32 version so let me check out that let me tell you that one as well should you supply invoice autocrate so we have created the template now there is a task even we can use that to just to create a supply inverse automatically and the task is schedule supplier invoice autocrate run frequency run now run later once in the future daily recurrence we can schedule this how to schedule or what is the frequency provided create okay calendar day is prior to due date so let's leave it zero now what day we want to schedule this so we can have let's say five days from now two days from now three days from now four days from now uh based on that subtitles will be automatically created but we will put zero we do not want to put any delay in this so zero days in this and it has been initiated once apply invoice has been created check out that one as well so if you you can see one supply inverse has been created and this one okay so why we are not seeing our template do do you remember what uh started or what invoice did we put there we can see m and dcc but the one which we created lunch boxes grants glass lunch boxes or training lunches that is not coming here probably because of data 1023 yes so we provided date of tomorrow so the frequency not the frequency the date is started or that invoice date we have provided for tomorrow so this task auto create supply inverse auto grid we will run tomorrow and at that time we will have our invoices created in this so this task template we have created but to generate a invoice we need to run this task on that day if that date is meeting let's say we have provided the date 23rd before 23rd we cannot generate the inverse but 23rd or later even on if we run on 24th if we forget to run on 23rd but we will run it 20 on 24th even then supply inverse will be generated using this task it will not be before the inverse date but it will be after the invoice date or on the same date of the invoice state it can be created is it clear any doubt related to this uh i have a doubt i mean not it's nothing to do with this supplier invoice guys uh i just have one generic question are we going to create supplier invoice for the client i mean when we rolled on to the project or just for the information purpose we are learning this no so you might if you remember some jd's contains a role uh data accounts payable data entry specialist account people analysis at this that time yes you will require to create these supply advices so i mean at the client side uh you work because as a workday consultant will be uh responsible for creating these supply invoices but it it depends might be some accounting person will be there who will provide you all these details or if you like you'll be working together with the accounting or financial person that's possible so let's say client has a these templates are pretty pre-delivered by workday only right we just have to cookie in the relevant industry yes so the format of the template is specific this is already fixed what you need just these details and this details will be coming from the client itself because you are not making the transaction transaction the client or the finance team knows about that transaction they will give you the data okay thank you okay uh sure so next chapter is banking and settlement now we have created the invoices we have created invoice adjustment transaction we have done but payment if you will see all invoice which we have created earlier are coming with the unpaid status and paid means we have not done the payment to our supplier to do this payment what we need we should have in general if i ask i have to pay some amount to a person how i will do that i should have a bank account if if i'm paying the amount in cash it should be okay but if i am paying direct if i'm doing direct deposit if i'm providing a check or if there is a wire transfer then i must need a account in a bank so we need to create a bank account for the client for our company so we have not created a bank account for our company till now we must have to create a bank account first once we will create this bank account then only then we can uh send or we can do the payment to our supplier supplies bank account we have already provided so contact details and bank account details of supplier we have entered already in the system now for bank setup what we need so we the three major details in setting up a bank account for a company first is financial institution what is financial institution any bank or lock box so whatever method a company uses for payment or for their account rated savings or account related transaction like bank account or outside india even the lock box that is again a kind of another financial institution which uh which do this transition with the client they take money or even at the time of need they give money to the company but that lockbox company sends that amount to that bank so lockbox vendors have tie-up with the banks at their kind of middleware lockbox will uh work with the company so all discussion with these company that logbox will do they will get the amount but they will deposit in bank so they have a separate working model or a company can have direct account in the bank second the so okay so financial institution we will set up after that we will set up a bank account so bank is there but we will be having one account address account within the bank so that account it is also we will provide how we will do that so let's uh i'm if you remember we created a settlement administrator might be teresa or this is a user based security group already assigned logan should have this role and let's check if tessa does have this role or not settlement administrator it is already given in your activity so how to create a bank let's say create financial institution this is the task great financial institution before creating that i'll show how we can identify or how we can check how many financial institutions are present in the system view financial institution is that view financial institution is a task if you click on this you can check out how many institutions are there eib american express bank of the philippines citibank hsbc these all are those financial institutions or these all are the banks already existed within birthday tenant somebody has already configured this but let's say i do not need this i have a new bank i need to first create a financial institution this for so you you know how to create a bank i'll demo this create financial institution i'll create a new bank within the tenant how i do that my bank name is demo us or india bank so this is the bank name okay [Music] up to us if already we want to create this kind of create financial from which business entity but i am not providing any business entity just i'll i would like to give a name demo u.s bank tax id of that bank bank identification code this all we have to set up if it is wrong they might might goes to error but these days we have to provide contact information contact information for bank whenever you will create a kind of entity within the work day you need to provide at least one contact information either a phone number or email or address i'll put main street new york so i have set up a bank address we have provided and click ok ok so we have set up a bank now what we need we need a company account so companies bank we have set up but com sorry bank we have set up but companies account within that bank we need to create for that task is create bank account account name let's say uh demo current account for so this is my company i am creating a current uh current account for my company within the bank bank account type is is it a bank account outsource account or petty cash account so petty cash it is in u.s i'm not sure about how it works but the kind of lock box or it's very small account or some other it works with the vendor that kind of account this is might be vendors will will have this kind of account it is not in bank but no i i don't know about the petty cash this is bank account and outsource is again the similar kind of bank account but in the any other and bank account which country you can go and might be you can google out about these to a type of account what is outsource account or petty cash account okay so demo bank account then united states over like the country we have selected organization which organization for which organization we are doing this so organization is nothing your company so you we are creating this for our company select out your company when you select the company by default currency will get populated so what kind of currency this is the default one but which currency you want to accept within this account i'll say all currencies i can accept i can accept in uh inr i can accept in usd even if any other currency come even that i'll be accepting so accept all currency within this account what kind of payment terms you would like to accept cash check credit card i'll say all type of transaction all type of payment terms or payment types i'll accept all type of payment types i'll accept within this account now similar to this is for adopt payments what kind of default payment type for add-on payments for adopt payment [Music] i'll say direct deposit is it's just a default one but we can select any default if you see allowed allowed means you can choose one of only the allowed options allowed are a restriction you will see you select only one from the allowed ones if i'll just leave only cash here so i cannot accept any other payment type then cash for this account but here i have selected all default means it is just an option i am choosing a default one but there is a even the further i would have this option to select any of other payment types so this is possible default is not a restriction um okay so right hand side it is asking to select a financial institution so if you remember we have created a new one just check out for that demo okay so demo usbank this is the financial institution we have created alert is coming obviously i didn't don't know what is the identification of bank identification code but let's see we'll put right now it is azure so i'm not changing this but in case it will give a error then we will change this identification code here as well as on the bank as well because we provided this detail on the bank uh bank branch doesn't need routing transit number so routing transaction number i'm just providing from the activity book i do not remember because there is a validation if this transit number and doesn't meet the specific requirement 11 digit 12 digit it will give error so 261 8. now bank statement format again some is standard by bank which uh which is applicable in different countries but let's say iso two those standard we have selected so these are the the file or statement format which bank of which country uses what format so just pick pick that one you'll get this detail at the time of configuration what is the bank statement format which one you need to select now primary account usage where we can use this bank account so we can use in ad hoc payments transfer settlement customer if you want to pay get some amount from customer then customer refined what kind of payment we will be doing or accepting from this account so all we can select here so let's say if we have multiple accounts within a bank multiple accounts one we use for supply another we use for customer other we use for uh other add-on payments so that also we can do we will create three or four accounts one for that one for customer one for supplier or let's say there's just one account we we have a small company very small company and that has only one account and all transactions are being done from the same company oh sorry from the same account that is also possible so supply payment if like salary off cycle payment on cycle payment to employees you know this this one we can select inter company let's say we are not doing any inter company expense payment credit card payment cash advance payment that kind of transactions we want to do then we can select this is the primary account usage this account can accept or can do only these type of transaction if we are doing any other time type of transaction and we want to use this account this account cannot be used for any other type of transaction it will be used only within these is it clear nothing else is required at this moment okay so let's try to submit if we get any error there is bank account with the same routing transit number and account number already at just okay so let's change it to zero let's change it to nine it is saying the already transit number is for another bank account number is for another bank let's check some validation feed for the entered routing transit number let's do one thing did we provide any transit number over this bank did we do to get the demo u.s bank as financial institution so we created a financial institution great financial energy what is the task that we do create financial institution right right that's the task the transit number must be nine numeric digits okay this is uh let's let's do one thing open this bank in another tab edit the details i provided this default or you know and that was for 11. now let's drive again this is something related to bank obviously i provided a demo number so it is not giving me a correct checksum okay so that i told how to create a financial institution obviously these duties so bank bank will provide a transit number and identification code but how to create this i have showed you and these details you will get from bank you can directly put at the time of configuration but for the time being what we can use is uh let's say we will choose here which is present in the activity and for that transit number is already given like two six three one eight one three eight four so we got already a transit number and number is five six seven eight so this is the account number bank identification code we don't need now try to submit boxer now the bank account with the same routing transit number already adjust so this let's change the account number now it's created so that error was coming due to some wrong code of the bank obviously bank code i did not have i provided a demo code so i changed the bank to a and account number was being used already within this tenant for another company so instead of the last digit i changed the date and i have my own account set up in the bank so my bank account has been set up okay so after bank account set up let's say we need to do the settlement what is settlement and how we do the settlement i'll cover tomorrow settlement is uh i'll just give you an idea how settlement work oh what settlement dates so let's say we have created invoices in workday in the similar way even company pays salary to their employees company uh expense something over the day-to-day needs might be a stationary item might be daily items so whatever item is coming company is doing some expenses so for these kind of items invoices are being created for ad hoc payments for let's say bonus commission incentives to the employees that payroll part is coming in picture for payroll for financial rated accounting entries one settlement engine is there there are not a separate settlement engine workday does have only a single settlement engine one single settlement process will uh pay amount for all of these entities for employees for suppliers so only one settlement engine will work so that settlement uh conditions that settlement run we do tomorrow how we do a payment to a supplier supply and what we have created but that is unpaid till yet how we will pay the amount to those suppliers how that will work what is the process that we will cover tomorrow okay any question guys still here it clear yes okay so try to cover till here until the bank settlement or bank account creation till tomorrow i'm looking for internal movement and they have accepted my resume and they are going to schedule my interview sometime i mean in near future i just told him that i was signed up for this cloud foundation class and i'm going through getting trained over there and i just don't wait too classes that's it because i'm scared of you know what sort of question they might ask if i tell them that i've already covered off of the module i mean off of the curriculum so what kind of question they might ask me in the interview because i just told them uh i done with create our reorganization and the accounting rules so they might ask uh what a supplier what is a customer in a day and what is credit or what it decreases liability increasing liability but but if i will say a basic question uh for the financials so mostly is what is work tech where custom organization or why we need to set up custom organizations uh what are the different roles which will be used for financial setup how what is ledger account how to deb how a ledger account will be debited or credited so that kind of questions will be coming okay okay uh and for that uh yeah uh what's that uh create custom organization we use it for a reporting purpose right i mean as you know when we have when we have multiple division and we are not able to you know create separate company for them we just created create them as a custom organization and we would link it to the company in the in the future we can use the customer organization i'll tell you in your chapter 2 yeah chapter 2 check out uh the theoretical part for customer