| | 5.3.3 F3 Enter Schedule Procedure | |
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| Finance Procedures: | | Finance procedures involve of at least the following 7 measurable tasks and states: | | F1. Prepare is the initial state while the company is a Prospect until they are a Client. | | F2. Commission Percentages are entered when a new Client is handed over from Sales to Brokers. This task F2 is triggered by task S5. | | F3. Payment Schedule is verified and/or entered when a client approves a quotation with an energy provider. This task F3 is triggered by task B10. | | F4. Proforma Invoice may be created by the schedule when a payment is due from an energy provider. | | F5. Upload Advice Notice may be triggered by an energy provider in response to a proforma request. | | F6. Send Invoice is triggered by the schedule with optional advice from an energy provider. | | F7. Payment is entered and assigned to the relevant financial accounts based on the commission percentages. |
| Overview | | For each contract, one or more schedule records are created to forcast when advance and arrears payments are due - the schedule is the diary for payments and commissions. | | Where a current contract does not have a schedule then the contract has no payments due and no commissions due. Commission amounts are shown on each persons dashboard, so where the zero is reported, the person may ask finance to create the missing schedule of payments and commissions. |
| Eliza | | Automated Data Assistant is always running and able to undertake any procedure on behalf of a user. Invoicing is one procedure that can be automated for all scheduled payments that have an accurate amount. | | Automated emails with track and trace ensures that company confidential information is not shown on an email that will be copied by many agencies in many countries. Traditional email is not fit-for-purpose and should not be used to communicate client confidential information. |
| Commission Percentages | | When the current contract goes live, the client level comission percentages are automatically replicated by Eliza to all dependent scheduled payments. This avoids this data needing to be manually entered. This improves productivity and eliminates errors. |
| Amounts | | Scheduled amounts are based on estimates that may change during the life of the contract, however the dates when payments are due will always be accurate for many years ahead. | | Once a schedule has been created, the data is frozen, however Eliza may adjuct the amount in the light of more accurate contract EAQ and EAS amounts. Eliza is continually seeking out and correcting low quality data to make it have more value. |
| Bulk Processing | | Bulk processing can be done by delaying all invoicing by an average of 15 days and processing a complete months worth of invoices as if they were one invoice due on the first day of the following month. For example, all invoices that were scheduled to be paid in January can be delayed until s bulk process can be done in February. This not only delays cash flow, delays payements and delays commissions, but introduces the possibility that a defect in one invoiced line will delay the whole bulk invoice. Bulk processing can reduce the number of invoices and the number of payments to be handled and this may have banking benefits. |
| F3 Payment Schedule: | | When the broker get client approval for a energy providers proposed contract to become approved pending current, then this finance task is triggered. The proposed contract must contain full details of what payments will be due when the contract is live. This may include a fixed amount (on-credit) at the beginning of the contract and then a reconciled balance when the actual consumption is known at the end of the contract. Where monthly or quarterly payments are due, then these will also be added to the account receivable schedule. | | The account receivable schedule is a simple list of records in date order showing what payments are due and when they have been paid. This is a replication of certain contract data into an immutable schedule that cannot be altered, no payment can be overlooked and every payment must be accounted for. The account receivable schedule may be viewed as a revenue forecast for the business and for personal commissions - KPI on the dashboard. |
| Invoicing | | Where the schedule shows an accurate amount, click the "invoice" button to generate the invoice to the energy provider and send it as an automated email. | | Where the schedule shows an estimated amount, click the "invoice" button to generate the reminder to the energy provider and send it as a simple email. The reminder email is a request for actual consumption and billing amount to be provided as a payment advice notice. | | Payment advice data from an energy provider may be uploaded into the contract and schedule to alter estimated values to become actual amounts. Once the schedule has an actual amount the normal 2invoice2 button can be pressed to send the invoice to the energy provider by automatic email. |
| Payment Advice | | Each energy provider will provide a spread sheet of actual consumption and spend for each service and current contract. The payment advice can be uploaded to update the EAQ and EAS . | | Payment advice data from an energy provider may be uploaded into the contract and schedule to alter estimated values to become actual amounts. Once the schedule has an actual amount the normal 2invoice2 button can be pressed to send the invoice to the energy provider by automatic email. |
| Document Control: | | 1. Document Title: F3 Enter Schedule Procedure. | | 3. Keywords: F3 Enter Schedule Procedure. | | 4. Description: F3 Enter Schedule Procedure. | | 5. Privacy: Public education service as a benefit to humanity. | | 6. Issued: 11 Jun 2018. | | 7. Edition: 1.3. |
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