Reconciliation # - Press Enter to generate the next available Reconciliation Number or enter the Reconciliation Number to edit or create. A Lookup is available.
Purchase Order # - Enter the PO number that is being reconciled.
Invoice Date - Enter the date on the Vendor's Invoice. Click on Clndr to invoke a calendar.
Vend Invoice # - Enter the Vendor's Invoice Number.
Invoiced - Defaults to the Invoiced Quantity.
Unit Cost - Defaults to the Invoiced cost of the line item and can be changed
This allows the entry of miscellaneous freight or handling charges that were not known when the Purchase Order was issued. Other Costs can be either allocated or unallocated. An unallocated cost is charged directly to a Cost Center and does not affect the cost of any Line Item. An allocated cost is distributed to all Line Items in proportion to their extended cost.
If Invoice Reconciliation is not required, unallocated Other Costs are charged to their associated Cost Center when the Purchase Order is fully received.
If Invoice Reconciliation is required, unallocated Other Costs entered on the Purchase Order are memo entries only and are not displayed on the Reconciliation screen. Other Costs must be entered at the time of Reconciliation and will be charged to their associated Cost Center when the Reconciliation is closed.
The following information should be entered for all Other Costs:
Code - Enter the Other Cost Code. A Lookup of allowable Other Cost Codes is available.
Allocate - This is the Allocation Code. Enter Yes to distribute the Other Costs to the Line Items in proportion to the Line Items' costs. Enter No to charge the cost to the Cost Center designated on the Other Cost line.
Cost Center - Enter the Cost Center that will be charged for Other Costs. The cursor will skip this field if costs are allocated. A Lookup is available.
Cost Description - This Description is retrieved from the validation file and can be edited.
Amount - Enter the Other Cost Amount as per the Invoice.
Finish the Reconciliation:
Trans. Fully Recon. POs to Hist - Check this box to send the fully reconciled Purchase Order to history when this Reconciliation is closed.
Due Date - Optional: Enter the date when the reconciliation needs to be completed by.
Approval - A switch on the Set Purchasing Software Switches specifies whether Reconciliations must be approved before they are closed. Click on the checkbox to approve the Reconciliation. Approvers must have been authorized by the Authority Control System. If the checkbox is left blank, the Reconciliation will be automatically approved.
Close Reconciliation - Click on the checkbox to close the Reconciliation. If the checkbox already has an X in it, clicking on it will remove it.
When the Reconciliation is closed, all related costs are updated and all fully reconciled receipts are sent to History. Costs are updated as follows:
Any Variance (Reconciled Cost - Received Cost) in the allocated costs of Line Items charged to Work Orders, Contract Service Orders or Cost Centers is posted to the Work Order, Contract Service Order or Cost Center. These costs will then be charged to the maintained entities and their associated Cost Centers at the time of Fiscal Period Closing.
Any Variance in the allocated costs of a Line Item for the purchase of Inventory is posted to the Inventory Cost Variance File. Any Variance in the cost of a Service Contract is posted to the Service Contract's Variance Cost Center.
Click on Save to save the record.
Invoice Reconciliation Menu
Reconciliation Data Entry
Invoice Reconciliation data entry requires two screens. Use a Dedicated Processor to speed up data entry time.