Customer advance and NTE

 Customer advance created for GBP 12,000 but the NTE value on the project contract header is GBP 10,000.

The customer advance invoice posted without any issues as NTE is not checked at advance level.

The NTE values on the project contract are also unaltered.

First project transaction of expense was posted for GBP 8,000, with a NTE check as "Success & Committed".

This transaction was successfully invoiced and it updated the NTE values on the project contract header. The sale value of expense is marked up by 1%.

Now the next expense was posted for GBP 3000. The transaction has NTE status of "Fail and Failed".

    

This has posted the cost and sale transaction on the FinOps side, which is actually not correct. Only cost should have been posted. The sale accrual should not have posted as this transaction has crossed the NTE limit.

The cost and sale voucher.

The transaction which has surpassed the NTE limit, system will not allow that transaction to be invoiced.

The only option in this case is to increase the NTE limit on the project contract header and then re-evaluate the transaction for NTE limit.

The transaction re-evaluation for the NTE limit is done using this button. (Re-evaluate Not-toExceed)

Once the transaction is re-evaluated, then the transaction status changes to "Committed".

This transaction can now be invoiced. After the invoice, the remaining NTE value is as below:

Also the remaining Advance value is as below:

If the project ends now, then question is how do we return the remaining GBP 890 back to the customer.

To do this, we need to navigate back to originally posted advance invoice for GBP 12000 and click "Correct this invoice". The system is smart enough to note that it has to create a negative invoice (credit note) for ONLY the remaining value. 

Once "Correct this invoice" button is clicked, the total amount is the remaining amount as seen in the screenshot.

And then the normal invoice procedure to continue.

Above step of "Correct this invoice" can also be done after the invoice is "Mark invoice as paid" is clicked.

After the confirm button is pressed, the invoice / credit note will be processed and will be posted in FinOps.

Thanks 

Sarang

Creation of Credit Note in ProjOps

 Once the invoice is "Confirmed" in ProjOps and project invoice proposal "Posted" in FinOps , user can create a credit note by clicking the "Correct invoice" button, which creates a negative invoice in ProjOps.

Once the negative invoice is "Confirmed", then system does NOT automatically create a negative project invoice proposal in FinOps. System gives this error:

The user has to then import the data from staging table (if not automatic, like the way this step is followed for any other project transaction) and then post the project operations integration journal. After this step, the negative transaction starts appearing in the "Posted project transaction" screen and the negative project invoice proposal starts appearing in "Project invoice proposal" screen in FinOps, which can then be posted.