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ERM-IO360 Invoices and Revenue

Significantly enhance the speed of your sales-order–to-invoice process while reducing the effort and complexity on your organization.

IO360’s ERM simplifies the order-to-invoice process, by automating all of the critical steps thereby reducing errors caused by having to input data multiple times. By delivering a complete invoice system, you can enable your business partners to manage their accounts with your company via the Internet. In cases where all requested goods or services are not delivered at the same time, you can create invoices for each line item. Furthermore, because the invoices are created within the system, the critical data is captured and automatically disseminated to other parts of the organization. The bottom line is that you gain competitive edge, improve your process efficiencies, and lower your transaction costs.

In the Invoice module the Production specialists view, enter and edit Invoice and shipment (or service deployment) details, including Sales Taxes if the buyer is not exempt.
ERM permits the inclusion of tangible items on an Invoice only when they are On Hand. It automatically puts the rest into Back Order status.

ERM processes Advance Payment (aka Deferred Revenue) Invoices.
ERM records both types of Invoice in your General Ledger automatically, maintaining balance, following generally accepted accounting principles.

This module lets the appropriate user Roll Back an Invoice to the SO stage, as long as this occurs in the same Operating Period as when a user first created the Invoice. From there, you may re-create the Invoice to suit things better.

This module lets the Controller user apply a small credit amount to the Invoice total (say to ignore a small balance due as not worth pursuing).

The Controller user may adjust the Invoice to reduce or eliminate Sales Tax in the Invoice, if a user incorrectly charged the tax. ERM automatically adjusts the amount due the taxing authority(ies) and enters new G/L account entries as required.

The Controller user may adjust the Invoice by deleting any line item that represents a customer return, or other reason. This is the most rigorous method for adjusting a customer amount due because, with this Revenue Reversal method, ERM correctly:

  • Adjusts Inventory quantities
  • Adjusts Inventory Valuation
  • Adjusts Revenues and Expenses
  • Adjusts even eliminates the Sales Tax due, if applicable
  • Makes all appropriate new General Ledger entries
  • Records these changes as history and includes the user ID
  • Only controlled user can do the invoice as a security code is needed.