Optimize Your Vendor Payment Workflow
There’s really no mystery when it comes to the Accounts Payable tab in Komet – it’s simple and straightforward but the entire workflow of making payments to vendors implies 3 parties to collaborate in a timely manner.
Now, we are no experts, but here are some pointers that might help with the way you handle your vendor payments:
You can always manually upload invoices in the Accounts Payable tab but why do that when you can be much more efficient? Vendors have two ways to upload invoices into the system themselves!
- Using the Grower Portal, they can associate an invoice to a Purchase Order that has already been added to an AWB. This option allows vendors to upload multiple invoices for each PO as well as place additional charges where needed.
- Vendors can also send invoices via email if you activate a setting. Once the email (if sent under the correct specifications) is sent, it will be automatically associated to the Purchase Order.
When the Purchase Order shows up under the A/P tab it’s because it was already added to an AWB but there are still a few things to keep in mind from an inventory point of view. There is a specific workflow that goes into effect when getting invoices ready to be paid. It entails the procurement department and account approving the invoice. When doing this, take the Quantity Confirmed field under consideration as it will be coded in red if it doesn’t match the Quantity Received column. Same happens with invoice and PO totals, they will be in red if something doesn’t match up.
If you haven’t done it already, we suggest making it a policy to include an accounting e-mail in the QC workflow. Whenever a new vendor credit is requested, it will ask which email addresses need to be notified.
You can activate the option to synch your accounting system with Komet. That way, you’ll be able to submit all approved invoices directly to payment. Please note that the external system will only work with QuickBooks unless you use an API method to integrate the information with any other system.
Once a PO has been synchronized, sent to an external system, or has a failed status, and for any reason you need to return the PO to an Approved status the system allows to do that by clicking on the drop-down menu in the Actions column for that PO and click on Return to Approved.
There you have them, a few tips to get you going with Vendor Payments! To get all your Accounts Payable settings adjusted to your own workflow make sure you visit our Knowledge Base.