Why is it needed?
All companies have a procurement history with data. The procurement data should be analyzed.
To make the correct business decision, companies analyze their spendings by various parameters.
Procurement data allows answering a couple of business questions:
- With what suppliers do we work? And what supplier's relationships are risky?
- On which categories have we spent the most?
- Which departments/projects take a more significant part of a budget?
- Are we under or over the budget?
- What types of Expenses do we have?
If you want to see your procurement data that way, you can use Products Custom Fields and Documents Custom Fields.
How do I apply this information to my procurement process?
You can add Products/Documents Custom Fields in the Configuration tab. You can add as many Custom Fields and options as you need. Also, you can add up to 5 sub-levels to every option.
The main difference between Products and Documents Custom Fields:
- Products Custom Fields are assigned to the products. Usually, this is the list of Charts of Accounts/Cost Centers or other custom fields. They can be used in your products from the catalog and budgets.
- Documents Custom Fields are assigned to the users and documents. Usually, this is the list of Departments/Projects or other custom fields. They can be used in your documents, budgets, approvals, and access limitations.
These are the right ways to use Products Custom Fields and Documents Custom Fields:
- Do you need to know the General Ledger account code while approving Purchase Orders/Invoices?
If yes, take your General Ledger codes and add them to the Products Custom Field.
This Custom Field should be available in Products, Purchase Orders, and Invoices.
- Do you need to see the General Ledger codes in Invoice/Purchase Order exports, but you don't want to see them in documents?
Add them to the Products Custom Field and make this Custom Field available in products.
- Do you need to see the departments or projects while approving Purchase Requests/Orders/Invoices?
If yes, take your Departments or Projects list and add it to the Documents Custom Field.
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 Documents Custom Field and make it available in documents.
You can also use Custom Fields for specifying:
- Purchase Order type / purpose / category
- For which customer the Purchase Order is for
- Type of Material
- Validity Date
- Product Brand
- Any other Date / Text / Select custom fields that can help you to add necessary information to documents
This is how it works when available in all documents:
- You can add Custom Fields to available documents
- You can edit Custom Fields for Products/Documents right in your documents.
What you should take into consideration when using Custom Fields:
- All values of Custom Field for Documents will be copied from the original document. So if you create an Invoice from Purchase Order — Custom Fields will be copied from the Invoice to the Purchase Order.
How to set up Products Custom Fields and Documents Custom Fields:
- Follow this link to read more about the functionality of Documents Custom Fields
- Follow this link to read how to set up Documents Custom Fields
- Follow this link to read how to set up Products Custom Fields