BSoft’s Overpay Sniffer

1. BSoft’s Overpay Sniffer The watch dog for your IPR account Bringing you what you need.. when you need it!

2. Keep Your Business Works IPR Account Accurate! Are your vendor invoice totals greater than the original PO amount? Is your IPR account balance all out of whack? Are you accounting for all of your transportation in costs? • 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!!!!

3. 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?

4. 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?

5. A Negative IPR Account Balance May Mean…. Your Cost of Goods Sold is UNDERSTATED Inventory Value is UNDERSTATED Your Financial Statements are not as accurate as they could be! Income is OVERSTATED • Let BSoft’s Overpay Sniffer prevent this! • Let me show you how it works!!!!

6. 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

7. 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 ?

8. 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

9. 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!!

10. 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!!!

11. Find out more! www.bsoftintegrators.com