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Overview

NorthScope allows users to record sales to fishermen and fishermen/tenders. These transactions upload to the host system as Financial module transaction entries.

Prerequisites

Required Prerequisites

Before entering a Fisherman Sale, users must complete the following:

  • Vendor Setup
  • Financial Account Setup

Optional Prerequisites

  • Set the Purchasing Preference for “Default Account – Settlement Accrual”. This will ensure that transactions will still post if the settlement account has not been manually configured for each fisherman or tender.
  • Set the Purchasing Preference for “Enable Real Time Integration” to “Yes”. This user guide assumes that the preference is set to “Yes”. If the preference is set to “No”, then the events in Step 3 will not occur.

Understanding the data flow

A fisherman sale transaction can be used to record sales transactions to fishermen and returns from fishermen. When the transaction status is changed to “Ready to Post,” each line item creates a settlement transaction in NorthScope and a NorthScope journal entry is created and sent to the host system.

To view the data flow of Fisherman Sale transactions, click here.

Step 1: Entering the transaction in NorthScope.

Entering a new transaction

From NorthScope, expand the Purchasing module on the navigation menu and select “Fisherman Sales”. This will open the Fisherman Sale List View, which displays all fisherman sale and tender sale transactions with a status of New and Approved. 

Click the “New” toolbar icon and select “Fisherman Sale” to open a blank record view.

Completing the header fields

  • Description: An optional field for describing the fisherman sale.
  • Doc Date: Identifies the date of the transaction. This field defaults to today’s date but can be edited.
  • Doc No: Identifies the document number for the transaction. This field is not required but, if entered, must be unique by transaction type. 
  • Fisherman: Identifies the fisherman who purchased or returned the item(s). This field provides a lookup of all active fishermen and fishermen/tenders.
  • Status: This field is to select the status from the following options:
    • New - This is the default.
    • Approved - Used when there is a two-step process for finalizing transactions. Setting the status to “Approved” disables all editable fields except Status.
    • Ready to Post - Used when the user is ready to post the transaction. Setting the status to “Ready to Post” disables all editable fields including status.

Adding line items

By default, new fisherman sales open with 5 blank rows for data entry. Complete the data entry by adding one line for each transaction.

Required line item fields

  • Description: Offers a description of the line item. This field defaults once the item is selected.
  • Extended: This field is read-only and displays the product of the price per UOM and the quantity. 
  • Item: Identifies the item being sold or returned. This field provides a lookup of all active items.
  • Price: Identifies the price per UOM for the line item. Prices must be greater than or equal to 0. This field defaults to 0. 
  • Quantity: Enter the amount of the line item being sold or returned. This field defaults to 1. 
    • Note: If the fisherman sale is recording a return, the user must use the Quantity field to record the negative (i.e. -1) and enter the absolute value of the price of the item(s) to be returned in the Price field. For example, a return of $500 would be entered by placing a -1 in the Quantity field and a positive 500 in the price field.
  • Sale Account: Identifies the sale account to be credited on the line item journal entry.
    • Note: If the fisherman sale is recording a return, the sale account will be debited.
  • UOM: Identifies the unit of measure for the line item. This defaults to the purchasing preference for “Unit UOM”.

Step 2: Finalizing the transaction in NorthScope.

Changes can be made to a transaction until it is finalized. To finalize a transaction, the user will need to change the status to “Ready to Post”. In some companies, posting is a two-step process where transaction(s) are “Approved” by one person and posted by another.  

Approving the transaction

This step is optional and is used for companies that require a two-step process where there the person who approves the transaction cannot be the same person that posts the transaction.

To approve a transaction open it from the list view, change the status to “Approved”, and click the “Save” icon on the header toolbar. In addition to the validations performed each time the “Save” icon is clicked, there are additional validations that are performed:

  • Ensures there is at least one valid line item on the transaction
  • Ensures that all default GL Accounts can be assigned.
    • The “Settlement Accrual” account for the fisherman

Once the status has been successfully updated to “Approved”, all the editable fields, with the exception of Status, will be disabled.

Finalizing the transaction

When the transaction is ready to be finalized, the user must open it and change the status to “Ready to Post” and save the transaction. Setting the invoice to “Ready to Post” does the following:

  • Validates the same conditions as the approval status and locks down all editable fields including status.
  • Updates the transaction status to Posted and removes it from the list view.
  • Creates the NothScope journal entry and sends it to the Host System.
  • Creates the NorthScope Settlement transaction.

Step 3: Posting the accrual journal entry in the host system

For every Fisherman Sale an accrual journal entry will be made in the host system if the Purchasing Preference for “Enable Real Time Integration” is set to “Yes”. The journal entry will appear in the host system's Financial module as a Transaction Entry in the batch titled NS followed by the year, month, and day with the following format: NS: YY_MM_DD. For example, if the Fisherman Sale was integrated on July 14, 2015, the Batch ID for the transaction entry would be NS: 15_07_14. 

Each Fisherman Sale journal entry description will be the NorthScope journal entry number followed by the NorthScope transaction ID followed by the NorthScope transaction name (i.e. 12345: F-1234567 Fshrmn Sale).

Journal entries for positive sale line items

  • One debit line showing the summarized amounts for the fisherman “Settlement Accrual” account. The GL Account comes from the vendor’s “Settlement Accrual” account or, if missing, defaults from the Purchasing Preference for “Default Account – Settlement Accrual” account.
  • One credit line showing the summarized amounts for each unique “Sale Account” on the transaction.

Journal entries for negative sales line items (Returns)

  • One debit line showing the summarized amounts for each unique “Sale Account” on the transaction.
  • One credit line showing the summarized total for the fisherman “Settlement Accrual” account. The GL Account comes from the vendor’s “Settlement Accrual” account or, if missing, defaults to the Purchasing Preference for “Default Account – Settlement Accrual” account.

Once the user is satisfied that all the GL Distributions are correct, the user can post the batch in the host system.

Note: Although this step is required, it does not need to be done for each transaction. Posting can be done nightly or as needed.

Step 4: Reviewing in NorthScope

Whether or not Step 3 is complete, the following will occur in NorthScope:

  • The posted Fisherman Sale(s) will automatically update from “Ready to Post” to “Posted” and will no longer be visible in the Purchasing Transaction List View.
  • Settlement transactions will be added for each line item
    • If the line item recorded a sale, the Fisherman will become the “Due From” Vendor in the settlement transaction.
    • If the line item recorded a return, the Fisherman will become the “Owed To” Vendor in the settlement transaction.

 Once Step 3 is complete, the following will occur in NorthScope:

  • The NorthScope journal entry will update from "Ready to Post" to "Posted" and will no longer be visible in the Financial Journal Entries List View

 

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