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Optional Prerequisites
- Set the ‘Enable Real Time Transaction Integration’ Sales Order preference to ‘Yes’Set the ‘Summarize AP Documents by Vendor’ Sales Programs preference
- Setting this preference to ‘Yes’ will summarize all settlements in a batch by Broker and send a single AP Invoice to the host system as opposed to sending individual AP Invoices for each Sales Transaction.
- Set the ‘Summarize AR Documents by Customer’ Sales Programs preference
- Setting this preference to ‘Yes’ will summarize all settlements in a batch to send a single AR Credit Memo to the host system per Customer as opposed to sending an AR Credit Memo for each settlement transaction for the same customer.
- Customer or Vendor Setup
- If the Settle To method is ‘AR Credit Memo’, a customer must be selected for the AR Credit Memo to be created for, thus requiring the customer is setup. However, if the Settle To method is ‘AP Invoice – Paid In Full Orders’ or ‘AP Invoice – All Orders’, a vendor must be selected for the AP Invoice to be created, thus requiring the vendor is setup.
- Integration setup
- Setting the Host system integration for SO Invoice and Settlements to immediate or timed.
Understanding the Data Flow
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Once the invoice is saved as Ready to Post and the integration setup for SO Invoice is set to immediate or timed, the invoice will be sent to the host system, so long as the ‘Enable Real Time Transaction Integration’ Sales Order preference is set to ‘Yes’, the Brokerage’s journal entry will be sent to the host system, and a settlement record will be added to the Sales Programs Settlement page for the transaction.
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Click Validate to validate the settlements. An informative message is displayed if e.g. settlement accounts are missing. Validate toolbar icon also updates the Total Settlement amount that is displayed on the upper right corner. Once Validation is completed, the Validate toolbar icon is changed to Process. Click Process to process the settlement(s). This will create the corresponding settlement document(s) in the host system, within a batch, ready to be posted. Several settlements can be processed simultaneously and the batch ID of settlement transactions is the date and time of the settlement process event. If the brokerage is settled to an AR Credit Memo, an AR Credit Memo will be created in the host system for the Customer on the brokerage program. If the brokerage is settled to an AP Invoice, an AP Invoice will be created in the host system for the Vendor on the brokerage program.
Note: The settlement transactions are only integrated with the Host system, if the integration setup for settlements is set to immediate or timed.
Be sure to post the settlement transaction’s batch in the host system for all accounting to hit the GL.
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Once the transaction has been partially settled, the Open Amount is updated accordingly (Program Amount minus previously Settled and/or Written Off amounts). This column displays how much unsettled amount the transaction has.
Note: The settlement transactions are only integrated with the Host system, if the integration setup for settlements is set to immediate or timed.
Be sure to post the settlement transaction’s batch in the host system for all accounting to hit the GL.
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To settle the transactions, click Process. This will create the corresponding settlement document in the host system, sent in the corresponding batch, to be posted. If the brokerage is settled to an AR Credit Memo, an AR Credit Memo will be created in the host system for the Customer on the brokerage program. If the brokerage is settled to an AP Invoice, an AP Invoice will be created in the host system for the Vendor on the brokerage program. The transaction sent for the settlement will include distributions to the Brokerage Write Off account for the write off amount.
Note: The settlement transactions are only integrated with the Host system, if the integration setup for settlements is set to immediate or timed.
Be sure to post the settlement transaction’s batch in the host system for all accounting to hit the GL.
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