Purchase Receipt History: Streamlining Your Procurement Process
This video demonstrates a custom Generic Inquiry (GI) that provides a comprehensive overview of the purchase order, receipt, and billing process in a single view.
(a) Challenges in Tracking Purchase Orders
Manually tracking purchase orders, receipts, and bills across different systems can be time-consuming and prone to errors. This can lead to:
- Difficulty in reconciling orders, receipts, and bills, making it challenging to identify discrepancies.
- Lack of visibility into the procurement process, leading to delays and potential stockouts.
- Inefficient use of resources spent on manual data entry and reconciliation.
(b) Solution: A Customized Generic Inquiry
The video presents a solution in the form of a customized Generic Inquiry that consolidates data from various stages of the purchase process, providing a streamlined view of:
- Purchase Order Details: Order number, date, ordered quantity, unit cost, and vendor information.
- Purchase Receipt Information: Receipt date, received quantity, unit cost, and receipt number.
- Billing Data: Bill number, billed quantity, and unit cost.
- Cost Variance Analysis: The GI calculates the difference between the purchase order cost and the final billed cost, highlighting any discrepancies.
Benefits of the Generic Inquiry:
- Improved Efficiency: Eliminates the need for manual data gathering and reconciliation, saving time and resources.
- Enhanced Visibility: Provides a clear and concise overview of the entire purchase process, improving transparency and control.
- Better Decision-Making: Enables data-driven decisions regarding inventory management, vendor performance, and cost optimization.
- Reduced Errors: Automates data retrieval and calculation, minimizing the risk of manual errors.
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