TABLE OF CONTENTS
- Updated Default Postpayment Terms Functionality
- Renamed the Location/Shipping Address Field in Reports
- User Interface Improvements
- Integration Improvements
New Tax Item Type
Managing the expenditure aspect is becoming simpler as we are happy to present the new Tax item type!
Functionality highlights:
- Adding Tax items to an Invoice from a PO will not cause Matching, even if the TL is exceeded. Such items will be automatically transferred to the PO after the Invoice is confirmed, and the amounts in the PO will be updated (including cases where the documents were OCR processed).
- Tax items cannot be received. When you create a Receipt for a PO, they are automatically excluded from the list of items to receive.
- Additional Taxes will not be calculated for the Tax items, and taxes added at the document level also do not apply to these lines. Thus, the “Tax,%” and “Tax Sum” columns are always empty.
- Tax items can be free of charge or have a negative price.
- You can add an unlimited number of Tax items to the document, as well as, you can create a document with only these items.
You can add the new items either from Item Management or directly from the document page.
For more information about this functionality and its application in documents, please refer to the Tax Item Type article.
Substitute Functionality Enhancement
To improve and speed up the process of working with documents, you can now select a Substitute if the Document Create Role for Warehouse Request, Purchase Requisition, Purchase Order, Request for Proposal, Invoice, Receipt, Expense and Create Role for Suppliers and Items are taken away from the user.
How it works when updating the user:
- When you take away the Create Role for any of the documents listed above, Precoro will check whether the user had any Approved, In Revision, Matching, or Pending documents where they were the initiator, and you will be able to set a Substute for each Role you have deactivated.
For you to select a user as a Substitute, they must have the necessary access by Roles, CFDs, and Locations. Please see the How to Set Up a Substitute for a Deactivated User article to learn more about the Substitute assigning process.
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When you take away the Create Suppliers and Items Role, Precoro will check whether the user was listed as a recipient of contract notifications. If yes, then you will be able to set a Substitute for that.
How will the process work after you have selected a Substitute:
- If you have taken the Create Role for any of the documents listed above, then:
- The selected Substitute will be set in all Approved, In Revision, Matching, and Pending documents for which they were selected. The Substitute can perform all actions with documents that are available to the initiator. Notifications about the documents will be sent to the Substitute by mail and in Slack (if activated).
- If you have taken the Create Suppliers and Items Role, the Substitute user:
- Becomes a budget holder for the budgets that previously belonged to the user whose Role was taken away.
- Gets added to the contract as a recipient of notifications. Notifications about the contracts will be sent to the Substitute by mail and in Slack (if activated).
Updated Default Postpayment Terms Functionality
We have updated the working process for the Set Postpayment Term as Default functionality in Configuration → Basic Settings → Document Setup → Invoices. When you activate it, the following process will work out:
1. Precoro will check all your active Postpayment Terms and will select the one with the highest percentage.
2. In case there are no active terms with a Postpayment % greater than 0, Precoro will search for the Postpayments with the highest percentage among the deactivated ones and set it to Active.
3. If there are no Postpayment Terms among the deactivated ones, Precoro will create a new Postpayment Term with a setting of 100% and activate it as a default.
If the Set Postpayment Term as Default functionality is not activated, when you create the PO or Invoice document and set the Supplier, the Payment Terms field will be empty by default. In the drop-down list, you will only see the available Terms for the selected Supplier.
Renamed the Location/Shipping Address Field in Reports
We have optimized the Location/Shipping Address field name across the reports to make it more clear in usage and unified:
- In all custom and default reports, in the creation stage, you can now see that the Location/Shipping Address has been divided into two convenient values:
- Location Name — will allow you to retrieve the name of the location.
- Location Address — will allow you to retrieve the address of the location.
You can select the needed values in the report creator:
User Interface Improvements
Updated Integrations Page
We are thrilled to demonstrate the new Integrations page, where we have conveniently gathered all the integration apps available in Precoro!
You can now easily manage several integrations at once from the Configuration → Integrations. The list includes:
- NetSuite — make your accounting and procurement teams work in synergy.
- Xero — run things in a cloud accounting software tool.
- QuickBooks — keep track of financial functions with the online accounting software.
- HiBoob — utilize the HR platform that powers productivity, engagement, and retention.
- Slack — add a team chat platform that helps people find the information they need.
- API — enable your applications to share data efficiently.
On the updated page, you can:
- Track the connection statuses.
- Update settings for the connected apps.
- Purchase new integrations.
- Connect to the free integrations.
- Book consultation call (only for Demo and Trial companies).
If you have any questions regarding the integration setup, please contact our Support Team, who will gladly provide the consultation.
Updated Create Payment Page
The updated version of the Create Payment page is here!
The improvements include the following:
- A new table view with a clear column-separating design.
- Ability to filter columns and perform a Search action.
- Fast filters panel and the updated design of the advanced ones.
Updated Taxes Page
We have renewed the interface of the Taxes Management page in Precoro!
With the updated design, you can make use of the following improvements:
- A new table view with a clear column-separating design.
- Added a way to sort the Name and Tax % columns.
- A new convenient manner to create Taxes from the sidebar.
Updated Contract Management and Inventory Pages
The new interface of the Contract Management and Inventory pages will please you with the following changes:
- A new table view with a clear column-separating design.
- Ability to filter columns.
The updated view of the Contract Management page:
The updated view of the Inventory page:
Integration Improvements
Staples PunchOut: Start Procurement with PO
You can enjoy all the Staples integration advantages even if your process does not include work with the PR module, as we have implemented the ability to use PunchOuts starting with the Purchase Orders as well!
When setting up the integration on the Staples Configuration page, you will see the Start Purchase Process From field, where you can select whether to start PunchOut with a Purchase Order or Requisition document.
You can always return and change your document selection in the Start Purchase Process From field.
Depending on your chosen document type, the Request from Staples button will appear on the corresponding pages for Orders or Requisitions:
The procurement flow, starting with the Purchase Order, will look like this:
Please see the detailed guide on Creating Purchase Orders Without PRs From Staples.
OCR Updates
Tax Recognition with OCR
Key points on how OCR recognizes Taxes:
- Taxes will only be applied to those items for which they were recognized. If Taxes were not recognized for some items, they would not be recorded. However, you can still edit the document and manually add them if necessary.
- OCR-recognized Taxes take precedence over the default ones set in the Supplier’s profile.
- If you have the single line functionality enabled and the document Tax has been recognized, it will be calculated based on the Net Total and added to the document.
- The Tax recognition rules are consistent for all providers and apply to all Precoro documents.
Auto-Identifying Tax Item Types
When documents are recognized by OCR the Tax items will be identified by keywords and added to the document immediately with the “Tax” type.
Process Overview:
1. You upload the document for recognition.
2. An OCR provider recognized the item line as Tax.
3. If a Tax item has already been created in the Catalog when a document was processed by OCR and the item is recognized, it will be added to the document as the Tax type one. Cases when Taxes will be added as an item line:
- If you have Taxes turned off for your company and in the OCR Configurations you have activated the Enter Tax as One Line setting then you will be able to enter Tax as a single item line.
- If you have Taxes enabled in your company and the OCR recognizes only the Tax Amount of the document (and none of the Tax Rate labels were recognized), then the Tax will be added as a separate item line.
For more information about this functionality and its application in documents, please refer to the Tax Item Type article.