In Precoro there are several ways to create an Invoice:
- You can create an original Invoice from scratch without the Purchase order. Follow the link to see how it works.
- Or you can create the Invoice from an existing PO.
The purposes of creating Invoices for the Purchase Order:
- Track the discrepancies between the Order and the Invoice
- Workflow for the Purchasing from Ordering for Payments and Receipts
- Reduce late or early payments
In order to create an Invoice for the Purchase order, follow these steps:
- Navigate to the left side menu and press Create from PO
The number on this button shows how many Orders are pending for the Invoice.
- Select the Supplier
- Select the Purchase Order
- Take a look at the paper or electronic Invoice. Is the invoice amount different from the order amount? If yes, you have some discrepancies. Look at the items and change them if there are discrepancies. Add new items if you have such in the Invoice. Or delete some items if you don't have such items in the Invoice.
- Once all changes are done press the Confirm button.
- Precoro will calculate the delta between the Purchase Order and Invoice at this stage. The changes should be approved by a Purchase Order initiator if the Invoice to PO % is greater than the allowed Tolerance rate.
- The Purchase Order initiator will receive an email notification regarding any required approval changes. And should then go into Precoro and review the changes (approve/reject/rework).
- The same process is for the Purchase Order approvers.
- The Invoice approval process starts when the Purchase Order approval process ends.
Also, you can create multiple Invoices for one product of the PO
This happens when a supplier:
- makes multiple deliveries
- delivers the goods in piecemeal fashion, on different days
In this case, the supplier will provide you with two or more invoices for one product. You can change the number of goods in the invoice and pay only for part of the order. And you can then pay for the remaining goods with another invoice.
Best practices would be to always match Invoices with POs:
- get a catalog from the supplier with the right SKU
- ask your supplier to refer each Invoice to the relevant PO #
- make your suppliers use the Precoro Suppliers Portal