You can choose when you want Horizon to record funds as spent for items on your purchase orders. You can have Horizon expend the money at order entry, invoice, or after the item has been received and invoiced, as explained below:
• | Receipt and Statement Approval. Horizon expends funds for an item after you receive the item, invoice the item, and approve the statement for the item. If you receive, invoice, and approve partial quantities, Horizon expends the funds for only those quantities that are received, invoiced, and approved. |
• | Statement Approval. Horizon expends funds for an item when you record the invoice for the item and approve the statement for the item (whether or not you have received the item). Keep in mind that if you invoice and approve partial quantities, Horizon expends funds for only those quantities that are invoiced and approved. |
• | Create Invoice at PO Line Approval (Prepaid). Horizon encumbers funds for all the items on a line when you add the line to the purchase order. Mark this option for prepaid orders. (Prepaid orders are purchase orders you pay for at or before the time of order.) If you mark this option, Horizon creates a proforma statement for the purchase order when you approve the PO line for the prepaid order. Horizon then expends funds for the item when you approve the proforma statement. (For more information about prepaid orders, see Creating a Prepaid Order.) |
You can choose the option you want for each purchase order in the Spent Event field on the PO header.
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