Why is it needed?
All the companies have their procurement history with data.
The procurement data should be analyzed.
To make the right business decision companies analyzes their spendings by such parameters as:
- General ledger accounts
Procurement data interpreted by these parameters allows to answer on couple business questions:
- With what suppliers we work in general and what supplier's relationships take a risk
- Which categories we've spent the most
- Which departments/projects take a bigger part of a budget
- Do we under or over the budget
- What types of Expenses we have
If you want to see your procurement data that way, you'd better use Custom field for products and Documents Custom field.
How do I apply this information to my procurement process?
The main difference:
- the Custom fields for products should be assigned to the products
- the Document Custom fields should be assigned to the users and documents
These are the right ways to use Custom field for products and Documents Custom field.
- Do you need to know the General ledger account code while approving Purchase orders/Invoices?
If yes, take your General ledger codes and add it to Precoro in the Custom field for products.
It should be available in Products, Purchase Orders and Invoices.
- Do you need to see the General ledger codes in Invoice/PO exports, but you don't want to see it in documents?
Add it to Precoro in the Custom field for prosucts and make it available in the products.
- Do you need to see the departments or projects while approving Purchase requests/Orders/Invoices?
If yes, take your list of Departments or Projects and add it to Precoro in the Custom field for documents.
Then configure the access to the Document Custom field for each user.
- Do you need to have custom requisites in the Requests/Orders/Invoices?
If yes, set up the text Document Custom field.
How it works when available in all documents?
Each document can be edited with the document/cost center available in these documents.
The sequence of the creating documents:
- Purchase Requisition
- Purchase order from a Purchase requisition
- Invoice from a Purchase order
- Receipt from a Purchase order
All the values of the Document Custom field will be copied from the parent document.
If you have the cost centers in products, the value will be copied from the product while adding a product from the catalog.
But if you are creating a PO from the PR, the value of the cost center will be copied from the parent document (PR).
Follow this link to read more.