Inventory invoices are invoices from a vendor that are associated with specific inventory receiving or vendor shipment transactions. These invoices are issued by the vendor when you purchase inventory from them for in-house use or for resale. Vendor invoices related to inventory are matched to the appropriate inventory receiving or vendor shipment transactions in StreamV using the Three Way Matching process that is described in an earlier section of this document.
The automated processing options for inventory related accounts payable invoices are based on whether the ownership of the goods being sent by the vendor is transferred when the goods are shipped by the vendor or when the goods are received by your company. This ownership transfer is based on the shipment terms being used on the purchase order or orders associated with the vendor invoice.
Each Viaterms record in the system contains a Title Point flag that indicates whether the ownership of the goods transfers at shipment (i.e. FOB SHP PT) or at receiving (i.e. FOB Destination), and the system can use this flag when determining how a specific shipment of goods should be handled by the system.
All automated processing of inventory related vendor invoices requires the following information
Vendor information: The vendor name and account number to be used for the accounts payable invoice. This vendor information needs to match the appropriate vendor record that is set up in your system.
Vendor Invoice information: The vendor invoice number, date, amount, payment terms, discount date and amount, and other required information for the vendor invoice.
Advanced Shipment Notification detail: ASN or advanced shipment notification records store detailed information about each shipment that is made to you by the supplier. This ASN information includes both header information and line item information about each shipment, and this asn information is linked to a specific invoice for the vendor. The advanced shipment notification records are used for detailed tracking of the inbound shipments to the buyer and can also be used to streamline the receiving and accounts payable process on the buyer system
ASN Header Information
Vendor (must match a valid vendor record in your system).
Vendor Invoice Number
Shipment# (a unique number automatically assigned by the system).
Shipment method (must match a valid record in the Shipvia table).
Shipment terms (must match a valid record in the Viaterms table and these terms indicate when the ownership of the goods is transferred)
Est Delivery Date (based on shipment method).
Vendor AP Invoice Number
ASN Line Item Information
Item# (your internal item number)
Qty (quantity of item shipped by the vendor)
Price (vendor price for the item).
Currency (purchase order and invoice currency – must be the same).
PO#/POLINE# (the po and line number that are associated with the shipment record).
Shipment# /Line# (a unique number automatically assigned by the system when the asn information is imported).
Vendor Invoice Number
GL distribution information: When an invoice is being automatically imported and posted to the general ledger as an active status invoice, the system requires that the entire amount of the invoice be applied to specific general ledger accounts. One or more general ledger accounts may be required in order to properly distribute a vendor invoice. When an inventory related accounts payable invoice is processed, the system can determine the proper inventory, inventory liability, accounts payable and in transit accounts to be used for the invoice automatically. The accounts payable account can be determined using the AP Autopost field in the vendor record (or the default AP autopost if the field is not loaded). The inventory account can be determined based on the product lines that each item is assigned to, and the system currently only supports one inventory liability and on inventory in transit account. If the vendor invoice being processed has invoice amounts that will not be posted to ap, inventory or the inventory liability or in transit account, the distribution detail for these amounts needs to be specified in the file(s) being imported.
Serial Number Information (optional) – If the items associated with a vendor invoice are serialized items which are serialized on receipt (the serial flag for the items is set toY), the system can automatically create the appropriate Serialized Inventory information during the inventory receving process.