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Order Based Invoice Memo

What is Order Based Invoice Memo in Businessflo​

In Businessflo, a Order Based or Reference Based Invoice Memo is a document issued by a company to record invoice adjustments with the need for a specific reference to a particular invoice or transaction. This feature grants businesses the flexibility to make invoice memo entries to a vendor's account being with constrained by a specific invoice or purchase.

A Order Based or Reference Based Invoice Memo in Businessflo typically includes crucial information, such as the vendor's details, the issuance date, the reason for the debit, and the debited amount. Serving as a comprehensive record of the debit adjustment, it plays a vital role in maintaining accurate accounting records.

The primary purpose of a Order Based or Reference Based Invoice Memo is to capture general debit adjustments or expenses that are directly linked to a specific invoice. This functionality empowers businesses to record additional charges, corrections, or adjustments separately

By utilizing Order Based or Reference Based Invoice Memo in Businessflo, companies can effectively manage and reconcile vendor payments, ensure accurate financial reporting, and maintain transparency in their purchase transactions.

How to Create a Order Based Invoice Memo in Businessflo​

  • Module: AP - Accounts Payable
  • Process Code: APME - Vendor Invoice Memo

There are two options available to navigate to this screen.

  • Click on Accounts Payable -> Vendor Invoice -> Vendor Invoice Memo
  • Write the process code for this screen in the search bar which will navigate you here directly.

Vendor Invoice Memo

The list displays both Vendor Free Text Invoices Memo and Order Based Memo already been created in the system. To filter the list for Order Based Memo, you can set the filter on the journal indicator and select "Purchase". This will show you the Order Based Memo. From the list, you can create a new Order Based Memo by clicking the "new" button or select an existing invoice to view, edit, or delete it.

Process​

Vendor Invoice Memo

To create a new order based memo, fill in the necessary details:

  • Invoice:- Invoice number will automatically be generated by the system.
  • Journal:- You can choose the Journal where the journal indicator is P
  • The system automatically populates the Journal Nature, Financial Year, and Financial Period based on the selected journal.
  • Posting Date:- Enter Posting Date for this invoice.
  • In Businessflo, the Order Based Invoice can have one of two posting statuses: Park or Posted. When a document is parked, it is saved as a draft and does not have any financial impact or refer to payment. Parked documents can be edited or deleted as needed. However, once a document is posted, it cannot be modified or deleted. If there is a need to reverse a posted invoice.

Vendor Information

  • Vendor: Choose the Vendor for this invoice by selecting from the list of vendors.
  • Vendor Group: The system will automatically populate the vendor group based on the selected vendor.
  • Vendor Tax Zone: If any tax zone is applicable on this invoice, then select the tax zone for this vendor

Currency Information

  • Currency:- Select the required currency
  • Exchange date:- Enter the exchange date and exchange rate will automatically be generated by the system or you can also mention exchange rate.

Internal Reference

  • Purchase Order: Choose the Purchase Order for this invoice by selecting from the list.

General

  • Tax Exempt Number:- If tax exemption is given to this vendor then you can provide tax exempt number.
  • Party Bank:- Mention the party bank.

Internal Reference Purchase Order Number:- Select the purchase order number which has already been filtered against the vendor.

Terms and Conditions​

vendor-purchase-invoice

You can write terms and conditions for this order based invoice in the given text box.

After filling the header fields, click on Create.

Invoice Lines​

vendor-purchase-invoice

Fill in the grid by selecting Purchase No, rest of the fields will be filled with the details of the selected purchase order. But you can update the gross price and discount amount or percentage for this purchase order. You can select multiple purchase order in a single invoice.

To process a parked document in Businessflo, the system performs a completeness check. To initiate the posting, select the posting status as "Post." This action will ensure that the GL (General Ledger) accounts are updated with the corresponding amounts from the document. By selecting "Post," the parked document will be successfully processed, and the necessary financial updates will be reflected in the system.

Now click on Save to save the information provided.