Using Milestones/Stage Payments—Exercises
IMPORTANT |
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Basic Data Setup
Purchased Inventory Part
Purpose: The purpose of this exercise is to create the purchase part by entering it as an inventory part.
The purchase part is automatically created when entering the inventory part.
Windows:
Inventory Part
- Enter an inventory part with the part number XX-58-100, replacing XX with your initials, and the description Racing Wheels.
- Enter yourself as planner.
- Use PCS as the unit of measure.
- Use 100 USD as the estimated material cost.
- It is advisable to enter default locations (arrival, quality assurance, and picking location) for the inventory part.
General exercise for
Purchased Inventory Part
Supplier
Purpose: The purpose of this exercise is to enter the supplier of the part that has the identified requirement.
Windows:
Supplier
- Enter the British tire supplier XX-170, replacing XX with your initials. In the Name field, enter Dunlop.
- In the
General tab, use English as the default language.
- In the Address/Purchase Address Info tab, use CIF (Cost Insurance Freight) as delivery term
and 30 (Road Transport) as the ship via code.
- In the Invoice/General tab, use USD as currency.
- In the Purchase/General tab, enter yourself as buyer. Use
USD as currency.
General exercise for
Supplier
Supplier for Purchase Part
Purpose: The purpose of this exercise is to connect your purchase part to a supplier.
Windows:
Supplier for Purchase Part
- Enter a new combination of purchase part XX-58-100 and supplier XX-170. The price should be 100 USD.
- Set the default Purchase Payment Type for
this combination of supplier and purchase part to Staged.
Note that after the milestone/stage payment has
been created there is the possibility to enter a default PO Milestone
Template ID. But for this exercise we should leave this field empty.
General exercise for
Supplier for Purchase Part
Milestone/Stage Payment Template
Purpose: The purpose of this lesson is to create a milestone/stage
payment template. The milestone/stage payment template is used
for connecting milestones/stage payments to a purchase order line. Note that in
this exercise it is the combined use of milestone and stage payments that is
exemplified.
Windows:
Procurement Basic Data/Milestone/Stage Payments Templates
- Enter your User ID as a Template ID. Use Purchase
Payment Type set to Staged.
- Create Milestone IDs 1 and 2 for this template. Make
sure that the total Stage Payment (%) entered for the lines make up
for 100%.
- Mark one of the lines as being the last stage
payment by selecting that line, right-click and then LV-Grammatical
correction made click Last
Stage Payment.
- Save the milestone/stage payment template (F12).
General exercise for
Setting Up Milestone/Stage Payments
Required Data
Entering a Purchase Order
Purpose: The purpose of this exercise is to show you the how to enter a purchase order as required for
connecting milestone/stage payments.
Windows:
Purchase Order
- Create a purchase order with the supplier XX-170. Enter the purchase order header and a corresponding receipt date. Save (F12).
- Enter two purchase order lines with the inventory registered purchase part XX-58-100.
Make sure that the Purchase Payment Type is set to Staged
for these
lines
General exercise for
Entering Purchase Orders
Main Exercises
Purpose: The purpose of this lesson is to learn how to connect milestone/stage
payments to purchase orders. You will
also learn how to report approved stage payments in purchase orders.
Windows:
Purchase Order
- Select a purchase order line, right-click
and point to Order Line Details and then click
Milestone/Stage
Payment. The
Milestone/Stage Payment
window appears.
- In the table, create a new line and enter a Milestone ID, e.g., A.
- Enter a description in the Description field, e.g., Partial Delivery Step 1.
- Enter a percentage value in the Progress
field.
- Enter information on lead time and previous milestone in the appropriate
fields. You also have the option to include notes for each line entered.
- Create two more lines with Milestone IDs B and C.
- Save (F12)
- Return to the purchase order and refresh. Make sure that the check box under the
Milestone/Stage
Payment Exists column is selected.
- Select the second purchase order line, right-click and
point to Order Line Details and then click
Add Milestone/Stage Payment Template. The
Add Milestone/Stage Payment Template window appears. (You could
select several lines if the same template is to be added to those lines).
- In this window, choose your template named after your User ID.
Note that it is only templates with the same purchase
payment type as your purchase order line that is displayed. Click Select.
- Return to the purchase order and refresh. Make sure that the check box under the
Milestone/Stage
Payment Exists column is selected.
Note that you cannot add a milestone/stage payment
template to a purchase order line that already have some milestone/stage payment
lines connected.
- From the purchase order line, right-click,
point to Order Line Details and then click
Milestone/Stage
Payment
- The Milestone/Stage Payment
window
appears. Select the one of the milestone/stage payment lines, right-click and then click
Approve.
- Note that the Date Approved is set as today's
date (system date) .
Before approving the last stage payment the purchase
order line has to be closed and all other milestone/stage payments has to be
approved.
Match Supplier Invoice Against Approved Stage Payment
Windows:
Manual Supplier Invoice
- Create a supplier invoice for the purchase order
header used in examples above by entering the PO ref.
- Enter an invoice number and the amount to be
matched for the first approved milestone/stage payment.
- Select the invoice line, right-click and then
click Match PO Receipts per Line. The
Post from Purchase Order
window appears.
- In this window, check the match line for the stage
payment that you want to match. Check that the Remaining field in the header
of the window is reduced to 0. Click OK.
- Check that relevant postings are added to the
Posting Information section of the Supplier Invoice Entry window.
Save the invoice.
After the supplier invoice has been saved, check the
windows for Milestone/Stage Payment for Purchase Orders Line
and Invoice Purchase Order Stage Payments for relevant updates
regarding invoice information.