Vendor Invoice Center Entry - Final Update overview
Use the Final Update process to run the update and reconciliation processes for the accounts payable group transactions you have selected in Vendor Invoice Center Entry - Invoice Detail.
The first time you click in Vendor Invoice Center Entry, the journal window is displayed, allowing you to open a journal. The journal remains open as long as the Vendor Invoice Center Entry window remains open, unless you manually close the journal using the Journal section. You can open multiple journals for the group using the Journal menu to open and close journals before performing a Final Update. When you close the Vendor Invoice Center Entry window, the journal is automatically closed, however, General Ledger is not updated until Final Update is processed.
General Ledger is not affected by Vendor Invoice Center Entry until you update the group using the Final Update function or by running Vendor Group Update Entry. After updating the group, the transactions affect General Ledger.
You should update Vendor Invoice Center Entry invoices daily for each group file that has been maintained during the day. This assures that General Ledger information is always current at the start of a new day. If you choose not to update the groups daily, you should at least do it on a regular basis.
You can update a number of groups or transactions in the same journal. After you open the journal, you can define settings on the Final Update window for updating and reconciliation. The settings you choose the first time you update are retained in the Final Update window until you close the Vendor Invoice Center Entry function so you do not have to redefine settings each time you update.
Update and reconciliation errors
When you process Final Update, the update process runs first. The update process establishes the payable in Accounts Payable and General Ledger and automatically places the invoice on dispute. If there are no update errors, reconciliation runs. If there are update errors, the process does not proceed to the reconciliation process for that invoice. Reconciliation determines if the purchase order is received.
If the purchase order is received, reconciliation determines if the purchase order is
within tolerance. This includes lines that are partially received if the
[(Invoice Qty * Invoice Cost) – (Invoice Qty * Receive Cost)]
is within the line tolerance. If the purchase order passes the tolerance checks, the
invoice is removed from dispute and General Ledger is updated.
If the purchase order is not yet received or is outside of tolerances, the invoice remains on dispute and the reconciliation report indicates that issues exist. The Invoice List shows the errors in the Status Message column. You can view the errors for the transaction by selecting the transaction and choosing the option.
Auto DO receiving options
If you select the option on the Update/Reconciliation Processing window, the Auto DO Receiving Options dialog is displayed. You can specify a Back Order Fill Printer for printing the Back Order Fill Report generated by the automatic direct purchase order receiving process. This is required if you are automatically receiving direct order POs or direct return POs that are tied to sales orders. The Backorder Fill process applies the PO addons from DO POs to tied sales orders based on the Bill Direct PO Addons setting on the order, as long as the PO addon ties to the sales order addon.
Zero amount invoices
If you are processing zero amount purchase orders, either intentionally or due to entry errors, you can cost them against a zero amount invoice. As an active invoice, it is processed in Vendor Cash Requirements Report and Vendor Entry Pay Invoices Due Report just as regular invoices are. It is marked as 'paid' and inactivated, but has no effect upon check amounts.