Limit Checking can be activated via S01 configuration ctrl30_bookedlimit. There are 2 styles applied i.e. Counter Party Balance or Un-secured, un-matched DEBIT transactions. There is no checking if the Invoice being produced has Secured Payment terms = Yes.
There are specialist Pre-payment/finance (S01 activation) processes.
There are 2 separate processes, one for Sales and the other for Purchases.
The front screen selections determine which contracts are suitable for Invoicing. Applying to all invoice types:
i) Only purchase contracts in PINVGL and only sale contracts in SINVGL
ii) TRADEs with no Title Date are always excluded.
iii) TRADEs not Approved are always excluded.
iv) Internal TRADEs are always excluded. Note. accounting entries can (S01) be created by SINVGL, when Internal trades are involved.
v) TRADE marked with shipping status of write off are always excluded.
vi) Closed status TRADEs are always excluded.
vii) Contracts in a department to which the user does not have access are always excluded.
viii) Sales contracts must be allocated to a purchase, unless S01 (ctrl30_j03noalloc=Y) setting
ix) Contract quantity must be greater than PREVIOUSLY invoiced quantity
x) Contracts may also be excluded by onscreen selections e.g. counterparty code or vessel.
On Finals additionally the following conditions are applied:-
Provisional Invoice
Contracts whose quantity is fully invoiced will only appear if ‘Show Fully Invoiced’ is ticked, but they may not be selected for invoicing. On Sales, only contracts which are allocated will appear. After creating the invoice, the final invoice required flag is ticked.
Commercial Invoice
The same as provisional except after invoicing, no final invoice is required.
Costs/Estimates
Trade costs may be invoiced by themselves or as part of another invoice (provisional, commercial etc). Costs which are 100% actualised will appear if ‘Show Fully Invoiced’ is ticked, but they may not be selected for invoicing. There is an alternative ITAS procedure named as INVDIRECT that can be used instead of this process.
Commission
As for Costs/Estimates but for Trade commissions. There is an alternative ITAS procedure named as COMNOTE that can be used instead of this process.
Washout (PINVGL only)
Generates a debit or credit note for the difference between the purchase and sale values of 2 contracts allocated to each other with the same counterparty. Only 1 purchase trade can be processed for each Invoice. Specific DOCDES rules are needed to produce a suitable piece-of-paper.
Strings (PINVGL only)
A string is where the shipper is not necessarily the operating company’s seller, but may be another counterparty with whom you may or may not have a contract. Once the string content has been agreed, the settlement is executed in ‘PINVGL/String’ whereby the purchase and sale contracts are selected, this gives the net settlement value. The counterparties and their settlement prices are entered on the working page. The net value of the settlements of all the counterparties must equal the net value of the selected PINVGL purchase and sale contracts.
The settlement will not be to the actual contract counterparties, the process enables contracts for different counterparties to be invoiced together.
For the payables (purchase contracts) there is an option to post to suspense. This is useful when you want to send your invoice (receivable) but have not yet received the payable. It posts to a suspense account instead of the counterparty; when the invoice is received from the counterparty, the suspense invoice is reversed and a new one generated to the counterparty. This is performed in the ‘Washout, circle, string invoice received’ option in PINVGL.
A debit or credit note is created for each of the selected counterparties. Gross contract values are posted on the first debit/credit note (first counterparty) and an ‘in transit’ posting to get the correct client posting. The subsequent debit/credit notes (other counterparties) post between the transit account and the counterparty. Invoice marking is the full contract value for each of the selected contracts. Specific DOCDES rules are needed to produce a suitable piece-of-paper.
Circles (PINVGL only)
Circles are similar to washouts being they are a financial settlement where no goods are moved. The difference is the buyer and the seller are not necessarily the same and often the circle is extracted from a string.
The circle process generates a debit or credit note for the selected purchase contracts and a debit or credit note for the selected sale contracts. Multiple allocated purchase trades can be processed for each Invoice. The selected contracts and their allocations are carried through to the working page where the user enters the circle price. This is usually the lowest in the circle i.e. less than both contracts or equal to the lower priced trade. The invoice price applied is the contract price minus the circle price.
The working page also includes contract carry and polarisation.
One invoice is created for the purchase contracts included and one for the sale contracts.
There are specific DOCDES rules for circles such as [inv_circleprice] and the <RPTpucn> and <RPTsacn> groups.
One accounting transaction is created for the purchase contracts included and one for the sale contracts. Gross contract values are posted and an ‘in transit’ posting created which represents the circle value, so the client postings are net (contract price minus circle price).
Strings Bypass (PINVGL only)
This works in the same way as the circle, except as the goods will be delivered it uses the string expense codes and P&L accounts instead of the circle expense codes and P&L accounts.
String (purchase or sale side only)
This process is used to handle where a purchase or sale trade involves multiple counter parties with whom the operating company will settle
as per string by pass.
The value to be distributed is the Trade value. The other side of the allocation is handled by standard commercial or string xxx side only invoicing.
Final Purchase/Sale Invoice basis Provisional Invoice
Contracts which are provisionally invoiced and have not been marked as fully finalized, may be selected for final invoicing. Any tonnage(s) on a TRADE that have been fully actualized will not appear ! please note that there can be any number of Provisional TONNAGE invoices on one TRADE record
Costs/Estimates/Commission Finalisation
Trade costs and commissions which have been invoiced but to less than 100% actualised may be final invoiced by calculating the full invoice value and subtracting the previous invoices as per ‘final purchase/sale invoice basis provisional invoice’ process above i.e. note that there can be any number of
Provisional TONNAGE invoices on one TRADE/Cost record
Washout/String/Circle Invoice Received (PINVGL only)
This process is used when the PINVGL has been applied previously on a Circle/string situation BUT the accounting entries were posted to a nominated Suspense account (because the Counter Party invoice(s) had not been received). This process reverses the original PINVGL suspense postings and replaces with real Invoice details now received by Operating Company. See separate topic for more detail
Invoice Reversal
Allows reversal of existing goods invoices.
Costs/Estimates/Comsn Reversal
Allows reversal of existing Costs/Commission invoices.
PrePayments/Deposits.
Process is activated by S01/Physicals/Invoicing/tab4. Can enable Deposit/PrePayment request for Sales and/or PreFinance for Purchases.
Specific rules exist for which trades can be selected i.e. correct payment terms and setup of NOM suspense accrual account and setup of EXP nominations.
PrePayments Refund
Allows partial reversal of pre payment amounts
PrePayments Reversal
Allows reversal of pre payment invoices
Customs Documentation (SINVGL Only)
Allows creation of a sales invoice document without generating any accounting postings. A provisional or customs invoice may then be produced based on the customs documentation. The sales contracts do not need to be allocated to be included. The contract quantity may not be used twice in customs documentation, This is controlled in ‘Other invoice marking’.
Other Documentation (SINVGL Only)
Allows creation of sales invoice documentation without generating any accounting postings. The sales contracts must be allocated to be included. Only uninvoiced contract quantity may be included in other documentation. This is controlled in ‘Invoice Marking’.
Edit/Reprint Existing Invoices (Purchase & Sales)
Allows access to both the word documents (.rtf) and backup reports (.irp) of existing invoices to view and reprint.
Extra Documents on an Existing Invoice (SINVGL only)
Allows creation of documentation based on existing invoices.
Invoicing outturn weights ####################
If the company is operating outturn weights (ctrl30_multiweights = O) they can elect to invoice the contract quantity (phys01_conquan) or the Declared, Net or Pro-Rata weights as secured on outturn records in Trade/Traffic. In Trade/Traffic/Adjust Weights there’s a grid of outturn weight records. Click in the ‘Dets/New’ Cell to either view/edit an existing record or create a new out-turn record.
Complete the form with the sound, damaged etc. Bags & quantity. There is a formula to calculate the Net, Declared and Pro Rata weights (saved phys49). Any number of outturn records can be created for the same contract. When the contract is split, the outturn records remain intact and the splits all reference to the same outturn record(s). In Invoicing, select whether to invoice on contract, net, declared or pro rata weights and if you select net, declared or pro rata – after selecting the contracts you pick the outturn weights records and that’s the quantity invoiced. Sales invoicing picks up the purchase outturn records. There are special DOCDES rules for listing all the outturn details. There is a TRAFREP (style 18) report for the Out-Turn details.
Weight Losses/Gains (SINVGL only and ctrl30_j03adjustments=Y)
Allows entry of the final weight and a franchise %age on invoiced contracts. A debit/credit note is created of the weight difference at either the contract or market price. The weight adjustment is recorded as an actualised cost. The hard-coded expense code “WTADJ” must exist.
Quality Adjustments (SINVGL only and ctrl30_j03adjustments=Y)
Allows entry of a quality adjustment on invoiced contracts. The adjustment is entered as a value. A debit/credit note is created of the adjustment which is recorded as an actualised cost. The hard-coded expense code “QUALADJ” must exist.
Returns (Company control setting
– [S01] ctrl30_j03returns) ############## Allows return of any sales invoiced quantity i.e. can select an individual TRADE split from a multiple Sale Invoice. That process would be needed so that the entire invoice did not need reversal The Sale value is reversed and the purchase and sale contracts de-allocated. The purchase contract is updated with the nominated QA code (ctrl30_j03returnsqa). On a partial return the contracts are split, with the returned tonnage record being cleared to call-off status.
Note 1: ###inv_ref### is a DOCDES command to achieve the following, ###inv_ref### will on document confirmation locate the next available applicable document reference and replace accordingly.
Note 2: A notification email(S01/View/email configurations - SINVGL/INTERCO) can be activated when a Sales Invoice is created for a Counter Party that has been nominated as a 'Group' account. The S01 configuration is the control feature to activate this feature. The Invoice is sent as an attachment on the email.