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To process a brokerage settlement, navigate to Sales Programs>Process Settlements. A Programs> Broker Balances. This 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 Criteriadisplays the current balances of Settle To Name entities.
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. Both values can be selected simultaneously.
- 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).
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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.By default the Amt. to Pay field populates with the settlement's Remaining Amt.
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 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.
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