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Streamlining Procurement to Invoice Process for Control & Efficiency

Explore how to seamlessly manage procurement to invoice cycle, ensuring accuracy, cost efficiency, and performance attainment in control. Enhance processes from requisition to payment with formal communication and thorough validation steps. Optimize data management, receiving, invoicing, and outside operations for a transparent and efficient workflow. Maximize benefits, ensure vendor accountability, and streamline financial operations. Join us to unlock the potential within your enterprise!

jolene-joseph
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Streamlining Procurement to Invoice Process for Control & Efficiency

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  1. Procurement to Invoice Jim Boyer Sr. Consultant jim.boyer@cistech.net

  2. Making it all work together $ $

  3. Control

  4. Why? • Accuracy • Control • Efficiency • Attainment • Costing • Performance The Goal

  5. Procure to Invoice

  6. Request & Validate • Request • Requisitioner • Item • Due date • Validate • Unit and Nature (Department / Account) • Tax • Unit of Measure

  7. Request & Validate • Benefits of requisition system • Can’t be lost • Item Identification • Creator knows his department ? • Approver can review on-line • A/P has audit trail to source • Accuracy • Formal Communication

  8. Approve & Order • Convert Requisition to Order • Validate / Authorize Pricing • Validate Tax Rules • Validate Unit / Nature • Authorize Delivery • Schedule Receiving

  9. Approve & Purchase • Benefits • Better pricing • Better sourcing • Cash Commitments analysis • Better Control • Validate the Delivery • Validate the Invoicing Process

  10. The Data Base • FOB Codes • Charges • Unit / Nature • Terms • Vendor Item Master • Personal Account

  11. FOB Codes

  12. FOB Codes

  13. IFM Data

  14. Terms • Terms are active in IFM and Purchasing

  15. PO Header • Freight • Special Charge • Taxes • Approver • Payment Terms

  16. Vendor Details

  17. PO Header

  18. PO Item

  19. Key Data • FOB / Freight codes • Terms • Special Charges • Tax Transaction Types • Unit / Nature • Charge • Charge Type

  20. Receive • Validate • Authorize • Identify

  21. Receiving Screens

  22. Key Receiving Data • PO Number • Item • Quantity / Unit if Measure • Release • Goods Receipt Note (GRN) • GRN Invoice ‘Y/N’

  23. Receiving • Benefits • Confirm order is Delivered • Quality • Vendor Performance • Authorize Payment

  24. Invoice Process • Validate • Record • Authorize

  25. AP Invoicing • Manual Entry • Manual Generation • All / Selected • Ordered • Received • In Stock • Pay on Receipt Who is the accountant anyway?

  26. Invoice Process Screens

  27. Invoicing

  28. Invoicing

  29. Invoicing

  30. Invoicing Match

  31. Generate from Goods Received

  32. Key Data • Invoice Number • GRN Number • Items • Amounts • FOB

  33. Purchase to Voucher • Invoice Clearing • Inventory • Receipts Not Invoiced • RP 100 • RP 100 • AP 125 • CA 125 • CA 100 • Accounts Payable • Price Var. • Standard = 100 • Invoice = 125 • AP 125 • CA 25

  34. Invoicing • Benefits • Pay PO Price • Pay for Received Quantity • Match Invoice to Inventory Receipt • Minimize Effort

  35. Accrual • Accruals of receipts not invoiced • Generate Invoices from Goods Received • Process IFM Accruals • Delete Generated Batches • Reverse Accruals the Next Month

  36. Outside Operations • Generate POs from Manufacturing Order Release • Process RP Transaction to Report Completion and Generate Liability • Process Invoice to Transfer Receipt Liability to Accounts Payable

  37. The Requisition to Invoice

  38. Return to Sender • Purchasing Debit Memo To • IFM A/P Debit

  39. Return to Vendor

  40. Return to Vendor • RP Purchase Receipt • PQ Purchase Quality Receipt • RQ Reject & Return For Quality • VR Vendor Return

  41. Return to Vendor

  42. Return to Vendor • VR – Vender return • PO • Location • Quantity • Resupply (Y/N)

  43. Return to Vendor

  44. Return to Vendor

  45. Return to Vendor

  46. Return to Vendor

  47. Return to Vendor • Benefits • Pay Only for Good Parts • Better Communication • Transparency • Vendor Performance Reporting

  48. Overall Benefits • Plan and Execute • Authorize • Control • Efficiency • Attain • Transparency Within the Enterprise

  49. Procurement to Invoice Thank You for Attending!

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