In January, Harmony will release a significant upgrade to its purchase order functionality. Purchase order processing is integrated in Harmony in a number of ways. Any sales order line (or the product it is based on) can have multiple purchase order lines related to it. The flexibility that Harmony supports on the sales side is fully modelled on the purchase side, if you can think of a way of selling, you can also model that way of buying! In addition, just as with the sales line, if the product has a support agreement, the recurring nature of the contract is also modelled.
- Do you make solution sales where you claim revenue over multiple accounting periods based on revenue recognition rules? If so and the sales have multiple purchases tied to them, then matched-period accounting can be a nightmare
- Matched-period accounting means accounting for the implied costs in the same period and the same proportion as the revenue you claim. For sales with many purchases, this is a complex accrual process, easy to get wrong. Harmony has a cost recognition process that eliminates these accruals and prompts the user to correctly account for the costs as part of the revenue claim or invoice release. It also handily does the apportionment calculation
- Are you trying to juggle the correct accounting for this alongside goods receipt and payment?
- Harmony allows these three processes to run in parallel without dependencies, just like the real world. The consolidated account movement view means you are always clear where the three processes are, but able to manage them independently
- Do you need messy workarounds when the invoiced price does not match the PO?
- Harmony enables controlled price repair as part of the invoice matching process plus allows you to add those sundry lines (shipping etc) that you did not model on the PO but still need to pay
- Do you employ sub-contractors who work on integrated projects alongside your staff?
- Harmony models this seamlessly and provides controlled invoice matching and remittance processing based on its approved time records and assignment details
Finally after the scanned invoice has been approved on-line, all outbound cash-flows pass through a release workflow. You are completely in control of all your payments responsibilities, whether they relate to refunds, deposits, sub-contractors, suppliers or staff expenses.
If Purchase Orders are driving you mad, call us for a demo of the most advanced integrated PO functionality in the PSA market today.
About the Author: Harmony Business Systems Ltd (HBS) is the company behind HarmonyPSA, the most complete cloud PSA software on the market. Developed with functionality to cater for even the most complex needs of MSPs, VARs, ISVs and Professional Services organisations, HarmonyPSA truly is the next generation of PSA systems. HBS is an independent company based in the UK. Follow HarmonyPSA on Twitter or LinkedIn