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How One Drop Ship Company Created Their Own Payment Tracking

How One Drop Ship Company Created Their Own Payment Tracking

Some companies that are looking to use VISCO aren’t looking to integrate with QuickBooks but would still like a way to track incoming and outgoing payments. One Drop Ship customer asked if we could build out our default Invoice area to include payments entered on both accounts receivable and payable. At the time of this implementation, when keeping track of payments, they were having to manually update several spreadsheets in excel which were then emailed throughout the company. This led to errors, missed information, or data that was not up to date.

The objectives of this request were as follows:

  • Be able to show deposit amounts during time of Purchase or Sales Order entry
  • Show the dates payments were sent or received
  • Taking the payment terms into account, they wanted to be able to see how many days over the due date customers might be on a given invoice
  • They wanted to see what they what was paid and when, versus what was received and when

We adapted our invoice scan in the system to show the following columns:

 

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We incorporated the cost information that is entered against this invoice in order to show what was paid on the Purchasing side for these goods and when. We also added the ship date from their outbound logistics screen, which is also where they enter payment amounts. When a deposit is entered in the sales section for a customer, the deposit amount appears as the current payment when the user ships the goods associated with that delivery. We created a column called ‘Days Overdue’ that calculates however many days is associated with a payment term, from the date the invoice is created and sent to the customer.

They also wanted to see information like the factory where the goods came from and the customer’s Purchase Order number.

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The customer can export this page to excel whenever they would like. They no longer have to manually update payment information in more than one place. Anyone who wants the most up to date information only needs to look at this one section in VISCO.

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