Lot Projects Invoicing

Overview

In this KB Article, the concepts and processes of Lot Projects - Invoicing will be discussed.

Lot Projects Billing allows the AP Billing for the Purchase Order to not only manage the billing for the Accounts Payable Vendor but also the Invoicing for the Accounts Receivable Customer of a Lot Billed Order. Quotes converted to Sales Order for the Lot Project including all the items are linked to the RFQ converted to Purchase Orders. Once linked, the Purchase Order items are received or stored or delivered to the project, and the received or stored or directly delivered items, are AP Billed, and then can be automatically AR Invoiced to the customer.

The following will be discussed: Creating AP Bills and Invoicing

• Enter AP Bills for Not Itemized Lot Project Items and the resulting created Shipper/Invoice

• Enter AP Bills for Itemized Lot Project Items and the resulting created Shipper/Invoice

References:

Please refer to Lot Projects - Process.

Also please refer to Storage Shippers - Process and Direct Ship - Process Doc

General Concepts

Linked purchase orders are made per lot project item. As vendors give their quotes, the price is updated in the Purchase Order but also updates the cost and price on the Lot Project Item on the Sales Order. The set margin updates for each Lot Project as the Net of the Lot Project Items update as costs are updated/added/canceled on the Purchase Order and / Sales Order.

As AP Billing occurs, then AR Invoicing results

Lot Project Invoicing occurs, as a result of AP Billing thus amounts are invoiced based on how much will be billed for that received release, defined by the set margin on the Lot Project. There are two types of costing on line items in Lot Project Orders.

• Non Itemized Costing: When the cost is defined on the Lot Project Item level and is considered the cost of all individual line items under that lot project item.

  • For Non Itemized costing, the Itemized checkbox is unchecked. Then you would just set a total cost on the Lot Project Item.

  • Then as items are AP Billed, the system uses the set margin of the Lot Project, to then AR Invoice those billed items according to the set margin at the Lot Project

• Itemized Costing: When the cost is defined on the individual line item level under the parent Lot Project Item, and the total cost is shown on the cost on the parent Lot Project Item. Costs are defaulted like normal, through price profiles or manually entered.

  • For Itemized Costing be sure the “Itemized” checkbox is checked on the Lot Project Item and costs will show as each individual item is added.
  
  • Then as items are AP Billed, the system uses the set margin at the Lot Project level of those individual items’ costs, to then AR Invoice those billed items.

Creating Bills and Invoicing

The Lot Customer Invoice amounts are charged based on how much will be billed for that release, defined by the set margin on the Lot Project.

Enter Bills - Not Itemized

• When you receive the vendor bill for items delivered or received/stored

• Navigate to Accounts Payable and then Enter Bills.

• Search for the PO # and expand it to view the releases, Lot Project Items, and the part numbers.

• If the costing is NOT itemized, the line items will show a cost of zero, with the total cost showing only on the Lot Project Item.

• Checkmark the appropriate releases and line items INCLUDING THE LOT PROJECT ITEM LINE.

• Edit the total amount in the Net column if necessary. Notice the Lot Customer Invoice amounts change based on how much will be invoiced for that release.

• Create Bill.

Shipper/Invoice - Not Itemized

• Upon Creating the Bill

• Navigate to Shipper/Invoice of those billed items.

• Click on Status of that Lot Project Sales Order

• Double Click the Shipper/Invoice

• You will note under the Billing

• Double Click Lot Projects

• The Net is the Invoice based on the Set Margin of the AP Billing

Enter Bills - Itemized

• When you receive the vendor bill for items delivered or received/stored

• Navigate to Accounts Payable and then Enter Bills.

• Search for the PO # and expand it to view the releases, Lot Project Items, and the part numbers

• If the costing IS itemized, the line items will show their cost, with the total cost showing on the Lot Project Item.

• Checkmark the appropriate releases or part numbers being billed for.

• Edit the total amount in the Net column if necessary.

• Create Bill

Shipper/Invoice - Itemized

• Upon Creating the Bill

• Navigate to Shipper/Invoice of those billed items.

• Click on Status of that Lot Project Sales Order

• Double Click the Shipper/Invoice

• You will note under the Billing

• Lot Project the Net is the Invoice based on the Set Margin of the Billing