Invoice Reconciliation 3-Way Match Process
I'm going to submit an FSA to hopefully get this moved up the priority list, but wanted to circulate the document around to make sure no one else sees something that I've missed or has additional functionality that they need.
Here is a link: https://docs.google.com/a/wakemakers.com/document/d/141_BltbffEwFk8IDmFWxEh3krjWapnaZq2pZdEV0HJw/edit?usp=sharing
Give me some feedback if you have time.
Merry Christmas!
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Hi Jason
Thanks for creating this - I agree that this is a huge functionality hole in the platform, and we are spending dozens of hours manually trying to ensure invoice ( and RO data) accuracy.Our goal here is to prevent duplicate effort by taking the data entered into RO to load directly into our accounting system (Currently QuickBooks cloud) via CSV. In order to do this we have a couple of points that we would like to add here.Reconciliation Process3. Add line tax column. (in the UK we pay sales tax as a business then claim it back later).4. We have different terms with various suppliers, so an "Invoice Due Date" field here would allow a complete upload.5. Add a total tax field between Product total ( Which will be Nett of tax) and the Invoice TotalExporting/uploading ProcessWe would need the ability to export the data in a csv to allow an uploading into the accounting system. This could be achieved by either the reporting function or an export functionality native to the Invoice reconciliation Tool.Given the time delays and other known issues associated with the Reporting tool, I am inclined to ask for this to be a function in the new tool.I am open to suggestions on how the number of transactions to be exported in any given csv should be selected; Perhaps a small popup screen with all reconciliation transactions listed ranked by most recent showing date reconciled, vendor, user, and invoice number?I hope this is in line with your vision, if you need any further input or clarification, or if you want to go to RO together on it please let me know.Alisdair -
Thanks for the feedback!
Our goal here is to prevent duplicate effort by taking the data entered into RO to load directly into our accounting system (Currently QuickBooks cloud) via CSV. In order to do this we have a couple of points that we would like to add here.
I would love to get this point as well. We also use QuickBooks Online, so maybe that's the first GL accounting that RetalOps should support natively? ;)
3. Add line tax column. (in the UK we pay sales tax as a business then claim it back later).
Absolutely should be added, thanks for the context regarding localization.
4. We have different terms with various suppliers, so an "Invoice Due Date" field here would allow a complete upload.
Agreed completely, this absolutely needs to be included.
5. Add a total tax field between Product total ( Which will be Net of tax) and the Invoice Total
So having tax at the line item level as well as a total makes sense? Would this be a read only field that is a sum of the tax on the line items, or is it a text field that the user would type the tax total from the invoice into? If the latter, should there be any check against the net of the line item tax?
Exporting/uploading ProcessWe would need the ability to export the data in a csv to allow an uploading into the accounting system. This could be achieved by either the reporting function or an export functionality native to the Invoice reconciliation Tool.Given the time delays and other known issues associated with the Reporting tool, I am inclined to ask for this to be a function in the new tool.Completely agree that would the the best way to handle this. My primary concern is that we all know RetailOps is extremely limited on resources, and so if the scope of this FSA gets increased to include automating the export of data to an accounting solution, I worry that the FSA would simply never be completed.My approach then was to get the functionality in place, which would give us the ability to make sure we're paying the correct price, and that our financial reporting accurately reflects that price, and then in a subsequent FSA for the second phase, try to tackle exporting that data to Quickbooks.I'm totally flexible on this though, so let's talk about it. -
Jason
I completely understand and agree on the need for simplicity to ensure timely delivery, so I am happy to proceed as you have outlined.
Do you know if any other RO customers use QB online? If so it would seem to be a logical place to start?
In response to your specific question:
5. I think anything extra would be overkill, let's keep it simple and take it as entered.
If there is anything I can do to help speed this along, please let me know.
Alisdair
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