BSoft’s Overpay Sniffer

The watch dog for your IPR account

Bringing you what you need..

when you need it!

Keep Your Business Works IPR Account Accurate!

Let BSoft help!!!

BSoft’s Overpay Sniffer provides control - to help ensure that all received PO costs are accurately accounted for.

Let me show you how it works!!!!

Are your vendor

invoice totals

greater than the

original PO

amount?

Are you accounting for all of your transportation in costs?

Is your IPR account balance all out of whack?

Business Works – PO Receipts

• When you receive parts off of a PO you record the entry in Business Works : IC – PO Receipts

• You select the appropriate PO• Then you enter the

merchandise received– This entry places the

merchandise in inventory and puts the cost in IPR

• But what happens when you receive the invoice and the amount is different?

Business Works - Posting Invoice• When you receive the invoice

for inventory– You enter the invoice in

Business Works through AP

– Enter required information

– Select the open PO

– Enter the invoice amount, accept & post

• The invoice amount is than credited to the IPR account

– What if the invoice included freight? Or the cost of the inventory has increased?

• Your IPR account now has a negative balance!!!!!!What does a negative IPR account

balance mean to you?

Your

Cost of Goods

Sold

is

UNDERSTATED

Inventory ValueisUNDERSTATED

A Negative IPR Account Balance May Mean….

Incomeis

OVERSTATED

Your Financial Statementsare not as accurateas they could be!

Let BSoft’s Overpay Sniffer prevent this!

Let me show you how it works!!!!

BSoft’s Overpay Sniffer Example• Received 2 hummers from

GM off PO #84 – Enter the receipt in Business

Works

– Note that the unit costs from the PO ($41,000) is the costs that will be posted to the IPR account

• Receipt total of $82,000

• A few weeks later the invoice arrives– Enter the invoice in Business Works – Note that the invoice has a total of

$84,000 • $2000 more than the PO receipt

BSoft’s Overpay Sniffer Example

• Overpay Sniffer at work• When we try to post the

invoice for $84,000 – ($2000 greater than the PO

receipt amount)

• Overpay Sniffer sends an alert notifying you of the difference

• In this case $2000• Now you have three

alternatives for dealing with the issue– Select “OK”– Select “Launch PO Inquiry” or– Select “Launch Void Invoice”

What should you do ?

BSoft’s Overpay Sniffer Example

• Addressing an overpay

• Select “OK” – The invoice remains in the

system as entered and any IPR discrepancy will remain unaddressed

• Select “Launch PO Inquiry” – Business works will launch the PO

inquiry so that you may review the PO and than take the necessary corrective action, such as;

• Receipt adjustment – where price changes can be accounted for

• Corrective journal entry

• Select “Launch Void Invoices”– Business Works will launch the Void

Invoices task at which time you may void the invoice and reenter it with the appropriate figures

Using Overpay Sniffer

Regardless of type of corrective action you choose to take, BSoft’s Overpay Sniffer with the “Purchase Order Alert,” gives you the opportunity to……

catch and address discrepancies before they become a problem!!

BSoft’s Overpay Sniffer

• Have a “watch dog” monitoring your IPR account

• Maintain more accurate costs

– COGS – Inventory Values– Job costing– WIP

• Accurate Financial Statements!

Let our software work for you!!!

Find out more!

www.bsoftintegrators.com