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Step 4: Settling Brokerage transactions

To settle brokerage partially or in fullprocess a brokerage settlement, navigate to Sales Programs>Settlements and click New. This will display all brokerage settlement records available.

Settling Brokerage in Full

Find the settlement record to be fully settled and check the document’s corresponding checkbox. Checking the checkbox will automatically assume the brokerage is to be settled in full and will calculate the Approved, Write Off, and Remaining amounts as such. To view the line item detail, expand the record by clicking the corresponding arrow. The line item accounting can also be viewed at this level by clicking the Accounting icon, which will also allow the user to change the accounts to which the settlement posts.

To save these auto-calculated amounts, click Save. This will create a batch in NorthScope with the included settlement(s).

To settle with these auto-calculated amounts, click ProcessPrograms>Process Settlements. A list view is displayed with the following search criteria:

• Status: New
• Settle To: AP Invoice – Paid In Full Orders
• Transaction Date Through: The current date

The search criteria can be changed by clicking Inquiry Criteria.

Select Process Settlements from the toolbar to settle Sales Program transactions. The default filters in this view are

• Eligible To Pay: Yes
• Settle To: AP Invoice – Paid in Full Orders

The following filtering criteria can be used to narrow down the search results:

• Customer: This is the customer name.
• Invoice: This is the invoice ID assigned to the transaction.
• PO#: This is the Purchase Order number assigned to the transaction.
• Settle To Name: Displays the customer/vendor name assigned to the Sales Program.
• Eligible To Pay: Yes or No. Yes, if the sales transaction has been paid in full by the customer. No, if the sales transaction is not paid in full by the customer.
• Invoice Year and Month: The invoice creation year and month.
• Closed Year and Month: The year and month when the transaction was closed.
• Invoice Date Range: The date range of the invoice creation.
• Closed Date Range: The date range of the invoice closing.
• Settle To: The Settle To method of the settlement (AP Invoice – All Orders, AP Invoice – Paid In Full Orders, AR Credit Memo).

Settling Brokerage in Full

Use the filtering fields to find the settlement record(s) to be fully settled. Refresh Data toolbar icon updates the grid based on the filtering criteria.

Check the line item’s corresponding checkbox. Several line items can be selected simultaneously. Once the line item(s) have been selected, click Edit Amounts. This opens a new window, where the settlement amount(s) can be confirmed. The Amount to Pay column displays the amount that is being used for the settlement. This column defaults to the Open Program Amount and the amount doesn’t need to be changed for full settlements. Confirm the amount by clicking Save and closing the editing window or simply clicking Save & Close.

On the Process Settlement view the Amount to Pay column now displays the full program amount for the line item(s) that were selected for Editing.

Click Validate to update 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. 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 programa batch, ready to be posted. 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.

Once the transaction is sent to the host system, the settlement record will no longer display in the Settlements list view as it has been paid in full.

Be sure to post the settlement transaction’s batch AR Credit Memo, an AR Credit Memo will be created in the host system for all accounting to hit the GL.

Settling Brokerage Partially

To edit the amount being settled so that the brokerage settlement is not paid in full, find the settlement record to be partially settled and check the document’s corresponding checkbox. Checking the checkbox will automatically assume the brokerage is to be settled in full and will calculate the Approved, Write Off, and Remaining amounts as such. To edit the approved amount, expand the record by clicking the corresponding arrow. Then, click inside the Approved Amt field, delete the current amount and enter the amount to settle.

Note: The line item accounting can also be viewed after expanding the settlement record by clicking the Accounting icon, which will also allow the user to change the accounts to which the settlement posts.

After entering a partial amount to settle, the Write off Amt field will auto-calculate to display the sum of the Unpaid Amt minus the Approved Amt. For this amount to not be written off, delete the amount in the Write off Amt column.

Deleting the Write off Amt value will auto-calculate the Remaining Amt field to display the sum of the Unpaid Amt minus the Approved Amt minus the Write off Amt.

To save these amounts, click Save. This will create a batch in NorthScope with the included settlement(s).

To settle with these amounts, click Process. 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.

Be sure to post the settlement transaction’s batch in the host system for all accounting to hit the GL.

Settling Brokerage Partially

To partially settle a transaction, use the filtering criteria on the Process Settlements view. Check the line item’s corresponding checkbox. Several line items can be selected simultaneously. Once the line item(s) have been selected, click Edit Amounts. This opens a new window, where the settlement amount can be entered. The Amount to Pay column defaults to the Open Amount. The Amount to Pay field can be edited, but the amount cannot be larger than the Open Amount. Enter a value to the Amt to Pay field. The Remaining Amt field is updated accordingly (Open Amount minus the Amount to Pay).

Confirm the amount by clicking Save and closing the editing window or simply clicking Save & Close.

On the Process Settlement view the Amount to Pay column now displays the entered amount for the line item(s) that were selected for Editing.

Click Validate to update 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 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.

Once the transaction is sent to the host system, the settlement record will display in the Settlements list view with the new Unpaid Amt as the original settlement was only partially settled.

Be sure to post the settlement transaction’s batch will be created in the host system for all accounting to hit the GL.

Writing Off Brokerage

To write off all or partial brokerage, find the settlement record to be partially settled and check the document’s corresponding checkbox. Checking the checkbox will automatically assume the brokerage is to be settled in full and will calculate the Approved, Write Off, and Remaining amounts as such. To edit the write off amount, expand the record by clicking the corresponding arrow. Then, click inside the Approved Amt field, delete the current amount and enter 0, click inside the Write off Amt field, delete the current amount, and enter the amount to write off.

Note: The line item accounting can also be viewed after expanding the settlement record by clicking the Accounting icon, which will also allow the user to change the accounts to which the settlement posts.

Adjusting the Approved and Write off amounts the Vendor on the brokerage program.

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.

Be sure to post the settlement transaction’s batch in the host system for all accounting to hit the GL.

Writing Off Brokerage

To write off all or partial brokerage, use the filtering criteria on the Process Settlements view. Select one or more transactions by checking the checkbox next to the Transaction and click Edit Amounts.

The Amt Pay field defaults to the Open Amount. To enter a Write Off Amount, delete the Amt to Pay and enter a Write Off Amt.  The system will auto-calculate the Remaining Amt field to display the sum of the Unpaid Open Amt minus the Approved Amt to Pay minus the Write off Off Amt.

Settlement can be partially paid and partially written off at the same time. To do this, simply enter the amount to be paid in the Approved Amt field, which will auto-calculate the Write off Amt to be the remaining amount owed. To change simply enter the amount to be paid in the Amt to Pay field and the amount to be written off , simply edit to the Write off Off Amt field.

Once all values are entered correctly, click Save and close the Edit window or click Save . This will create a batch in NorthScope with the included settlement(s& Close. The Edit window is closed and the Amount to Pay and the Remaining Amt columns are updated accordingly. Click Validate to update the Total Settlement amount (upper right corner).

To settle with these amountsthe 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.If the settlement was written off in full, once it is sent to the host system, it will no longer display in the settlements list view. If the settlement was only partially written off , the settlement will display in the settlements list view with the new unpaid amount.

Be sure to post the settlement transaction’s batch in the host system for all accounting to hit the GL.