It is recommended that when compiling notes for financial documents you check for any errors and fix them before sending to a client.
Once a Cost Sheet has been invoiced all fields, except for the Status field, become inactive. This means that you cannot edit the document fields or any cost on the CE.
To edit document notes on non-editable financial documents, you need production rights (Config > Lookup codes > Production Rights), or certain user rights associated with a specific production right.
In the example below, only Finance users will be able to make any changes to non-editable financial documents, however if a production user has the F user right then they will be able to edit non-editable financial document notes. Please note that this setup varies from agency to agency.
Another way to edit these document notes would be to ask a user with the correct user rights (Finance or Administrator) to change the CE status back to draft. It is not advisable to change any information on a CE once an invoice has been issued against it.
As a production user, you need to speak to your administrator if an error has been made to the CE so that it can be fixed before it is sent to the client.
Please keep in mind the implications of changing or editing financial documents once invoiced.
Margin is sales minus the cost of goods sold.
Markup is the amount by which the cost of a product is increased in order to derive the selling price.
A mistake in the use of these terms can lead to price setting that is substantially too high or low, resulting in lost sales or lost profits, respectively.
Below is an example that can be used to highlight the difference between markup and margin:
Every document in Chase has a Status and you can use it to search for documents. If you know the status of the documents you are looking for, and the document type that you want to view, you can use the Search function from the Ribbon.
Foreign currency values in documents such as Supplier Invoices and Tax Invoices will always be calculated against the Exchange Rate in effect on the creation date of the document. For this to work, you need to have your exchange rates updated or added.
To learn more about the edit exchange rate and currency please see introduction to Edit Exchange Rate.
Every document that you create in Chase, has a status. The status indicates the current state of the document. The Status will indicate at which point the document is at. Status options will include the following by default but additional options may be added to Chase Configuration > Lookup Codes.
How to update Actual Costs against internal line items manually and when do the values populate?
An Actual Cost is an amount that has been spent on a line item or has been spent to pay the supplier for the work done. The Actual Cost column automatically populates with the amounts from the Supplier Invoices related to that line item. One is able to manually capture the Actual Cost for internal line items on the CE.
The Workflow history allows you to monitor workflows to ensure they are carried out promptly and creates a record of the entire process. On the Workflow History window you will be able to see information such as document name, document number, document creation date, workflow initiator, user who must take actions required and user to acknowledge. You will also be able to see if the document has been declined or accepted.
In Chase, a budget can be defined as a plan for the agency's outgoing expenses and incoming revenue for a specific time period.
The purpose of budgeting is to ensure that spending follows a plan, stays within preset limits, and does not exceed available funds. The problem with ordering above the CE budget can be avoided with a credible, reliable, and accurate cost estimate. In Chase you are able to order above the CE, however, there are production rights which control this.
In Chase Config > Lookup codes > Production Rights, you may find that the only person who can order more than what you estimated is a Finance User or Administrator.
A character limit is a numerical limit on how many letters, numbers, symbols, spaces, digits, etc. that you can type into a single text field. The Details and line item notes fields are used to type notes that will be seen by the client or internal staff.
The character limit that can be entered in the details field or line item notes field is 2000.
From time to time, you may need to order part of some line items from one supplier, and the rest from another supplier. Chase allows you to achieve this by creating multiple POs for the same line item.