Purchase Settlements After Sale

Setup

There are few things which should be taken care of in setup and configuration before the functionality can be put into the user hands.

Search for WiseFish Setup in the search window and click the option in the list.

Open

In the General tab activate the Purchase Settlement After Sale.

Open

The field will have an effect on how goods to be settled in purchase after sale will be handled via purchase and sales posting. In the registration of a receipt agreement the Settle Purchase After option will be automatically displayed, if the corresponding flag in the WiseFish Setup has been activated.

See the chapter ‘Settle Purchase After Sale - Step-by-Step Description’ for further description.

Key Functional Elements

In a nut shell, a conventional scenario for the method for managing purchase settlements after sale from receipt to delivery agreement, involves the following steps:

Receipt Agreement - Purchase Order

1. A sales person or a stock manager creates a receipt agreement to be received from the corresponding vendor according to the terms they’ve agreed up on, followed by the indication of the purchase price to be settled afterwards. The registration for the receipt agreement is confirmed by changing its status to Released.

2. When the time comes to receive the goods into inventory, a stock manager or a sales person creates a posting document (purchase order) out of the receipt agreement followed by posting of the receipt, as the invoicing part is to be postponed to the point when the sale of the goods has been processed.

Delivery Agreement - Sales Invoice

1. The sale of the goods are to be done in regular manners via Delivery Agreement. There is a field in the delivery agreement line for the purchase price to vendor, which the sales person can indicate the purchase price to be settled with. However, this is not a mandatorily field in the settlement process. The decision of the settled purchase price can also been managed in the purchase settlement process itself, later on as desired.

2. After posting of the sales invoice of the related goods, entries accumulates into certain designated register as an indication for their readiness for the purchase settlement process.

Purchase Settlement Worksheet - Purchase Invoice

1. The person responsible for the purchase settlement process will be able to check (at any time chosen) if something is waiting to be settled by opening a worksheet showing accumulated unprocessed purchase settlements.

2. In the worksheet, entries can be marked for invoicing, alongside with the decision for the purchase price to be settled with. Followed by the creation of the purchase invoices which the settlements are based up on.

3. After posting of the purchase invoices, accumulated unprocessed entries are moved into register for settled entries via invoicing process. Afterwards, these settled entries will be accessible to anyone later on for historical purposes, when desired.

Purchase to Settle After Sale

Receipt Agreement

In the registration of the receipt agreement, there is Settle Purchase After field in the agreement line, which is to be assigned with the Sale option as an indication of the purchase price to be settled after sale, followed by posting of a purchase invoice:

The Sale option in the Settle Purchase After field in the receipt agreement line will prevent the user to create purchase invoice out of the receipt agreement, as it the invoicing of the purchase is to be done after sale. The Purchase Document Type field in the Invoicing FastTab is therefore to be set as Order to fulfil the prerequisites for invoicing the purchase after the sale:

In this example, inbound lines for trade items has been created for each receipt agreement line:

Which each will appear as individual trade item after posting of the receipt out of the created purchase order. Release the receipt agreement and then click Posting > Create Posting Document. The Purchase Order opens, click Posting > Post.

Notice how the purchase order lines are updated after posting of the receipt.

There is also an additional check if the user attempts to post an invoice on a purchase order with its lines marked with Settle Purchase After = Sale.

Delivery Agreement - 1

The registration process of a delivery agreement can be done in an ordinary manner followed by the reservation of the related trade items into the corresponding delivery agreement. Click here to see how to reserve trade items from a specific receipt agreement. Then release and post the delivery agreement.

Purchase to Settle After Sale Worksheet

After creation and posting of the sales invoice out from the previously mentioned delivery agreement, the user responsible for the purchase settlement process can monitor how each sale appears in the Purchase to Settle After Sale Worksheet accessible by searching for it in the search window.

And inspect unprocessed purchase settlements after sale:

There are two elementary fields which the user responsible for the purchase settlement process needs to be aware of and manage before entering into the invoicing of the settlements:

1. Settlement Option field as an indication for the user intention (See following image here below for further details):

   1. Settle With Invoice – To create an invoice out from the worksheet.

   2. Settle Without Invoice – To skip from invoicing out from the worksheet.

2. Source of Direct Unit Cost field which allows the user to choose between (See following image here below for further details):

   1. Undisclosed – Default option which will give an error message in invoicing if left unchanged.

   2. Receipt Agreement – Use purchase price as assigned to the Direct Unit Cost field in related receipt agreement line.

   3. Delivery Agreement - Use purchase price as assigned to the Purch. Price to Vendor field in related delivery agreement line.

   4. Manual – Purchase price registered manually in Direct Unit Cost (Settlement) field within corresponding worksheet line.

Before creating purchase invoices for the settled purchase price, the user has to mark the lines into invoice by selecting the lines for invoicing. Then click on Entry Selection > Select Line(s) For Invoice Creation.

Afterwards, the corresponding lines will be marked as selected to invoicing:

Next step is to create invoices by clicking Invoicing > Process Selected Entries for Settlement.

A window appears with a posting date to be used in the creation method of the purchase invoices and can be changed as desired before the action is executed followed by clicking on Create Posting Documents.

Notice how the Status Invoice Creation field changes from Selected for Invoicing from previous image into Invoice Created:

Afterwards, the user can open the invoice created by clicking Invoicing > View Document Created for selected line:

From this point forward, created documents can follow standard posting procedure for purchase documents in an ordinary manner as expected in Business Central.

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