Accounting

The primary purpose of the Accounting department in Phocus is to oversee and manage all financial aspects of the organization. This includes tasks such as recording transactions, preparing financial statements, managing invoices and payments, tracking expenses and revenue, and analyzing financial data to provide insights for strategic planning. Additionally, the Accounting department plays a crucial role in ensuring compliance with regulatory requirements and internal policies, safeguarding the company's financial integrity and reputation.

Structure

The Accounting department in Phocus is structured to accommodate various accounting functions and responsibilities effectively. It comprises several key sections, each focusing on specific aspects of financial management:

1- Dashboard

• This section provides an overview of essential accounting tasks and data, including sales orders, commissions, and gross margins. It serves as a centralized platform for monitoring and managing accounting operations efficiently.

2- Invoices:

• In this section, invoices are managed and processed, ensuring timely and accurate billing to customers. The system tracks invoice details, such as invoice numbers, amounts, and payment statuses, streamlining the invoicing process.

3- Sales Orders:

• Here, the accounting team can track sales orders from creation to invoicing. This section facilitates the timely invoicing of customers based on shipment status and ensures accurate recording of sales transactions. Plus in the sales order section detail page the accounting team and go an access all detail information regarding the sales order such as all of the purchase orders related to the sales order. Al the parts in the part list of each system (unit) in the sales order and many other detail information. Moreover, within the Sales Orders section, the accounting team can access detailed information regarding each sales order. This includes all related purchase orders associated with the sales order, providing comprehensive visibility into the procurement process. Additionally, users can view the complete part list of each system (unit) included in the sales order, enabling thorough analysis and verification of components and quantities.

4- Accounting Tickets:

• This section allows users to create and manage accounting-related tickets or issues. It provides a centralized platform for addressing accounting discrepancies, resolving financial issues, and tracking the resolution process.

1- Dashboard

The Dashboard section in Phocus Accounting provides a comprehensive overview of key metrics and actionable insights, empowering the accounting team to manage various tasks efficiently and make informed decisions. This section comprises multiple tabs, each offering valuable information and functionality tailored to specific accounting processes.

1. Sales Orders Ready to be Invoiced:

This tab presents a list of sales orders that are ready to be invoiced, serving as a central hub for the accounting team to monitor sales orders that have been shipped and are awaiting invoicing.

Parameters:
  • Sales Order Date: Date when the sales order was created.
  • Estimated Shipping Date: Estimated date for the shipment of the
  • order. Actual Shipping Date: Date when the order was actually
  • shipped. Sales Order Number: Unique identifier for each sales order.
  • Total Amount: Total value of the sales order. Client: Name of the
  • client or customer associated with the sales order. Rep: Sales
  • representative responsible for the sales order.

    • Functionality:

    1. Detail Button:
    Clicking on the detail button allows users to access detailed information for each sales order, including related purchase orders and part lists.

    2. Invoice Button:
    Within the detail page, users can find an invoice button. By clicking on this button, Phocus suggests an invoice number and provides a preview of the invoice information. Users have the option to modify the invoice number if necessary. Upon finalizing, an invoice is generated and added to the invoice list. Phocus then directs the user to the detail page of the invoice, where a PDF document of the invoice is saved in the document tab.

    3. Partial Invoicing:
    Users can choose to partially invoice by selecting the checkbox and then editing the line items that need to be invoiced with the correct quantity. Upon finalizing, the invoice is generated. In the case of partial invoicing, multiple invoice numbers may be allocated to a specific sales order number.

    2. Sales Order Commissions

    In this tab, the accounting team can track and observe the list of commissions and related information for further analysis.

    Parameters:

  • Sales Order Date: Date when the sales order was created.
  • Sales Order Number: Unique identifier for each sales order.
  • Invoice Date: Date when the invoice was generated.
  • Invoice Number: Unique identifier for each invoice.
  • Rep: Sales representative responsible for the sales order.
  • Rep Location: Location or region associated with the sales representative.
  • Commission Regular Percentage: Percentage of the regular commission.
  • Commission Regular Amount: Total amount of the regular commission.
  • Commission Overage Percentage: Percentage of the overage commission.
  • Commission Overage Amount: Total amount of the overage commission.
  • Sales Order Total Amount: Total amount of the sales order.

    • Total Amount:
    The total amount parameters at the top of the list display the aggregate values based on the filters applied to the list. It shows the total sales amount and total commission amount for both regular and overage commissions. This provides a quick overview of the financial performance related to sales orders and commissions.

    Functionality:
  • Checkbox for Reps:

    • By checking this checkbox, Phocus automatically lists out reps and their associated commissions underneath. This feature allows users to filter the commissions based on specific sales representatives. For example, if a user wants to view the commissions of a particular rep, they can filter the list by selecting the checkbox and selecting the desired rep from the list.

  • Filtering and Data Search:

    • Users can filter and search for commissions based on various parameters such as sales order date, sales order number, invoice date, invoice number, rep, and rep location. For example, if a user wants to view commissions for a specific sales order number or within a certain date range, they can apply the corresponding filters to narrow down the list.

  • Step-by-Step Example:

    • Suppose a user wants to view commissions for a specific sales representative within a certain date range. They can first check the checkbox for reps and select the desired rep from the list. Then, they can click on the filter next to the sales order date parameter and provide the starting and ending dates. The list will be filtered to display commissions for the selected rep within the specified date range.

    3. Sales Order Gross Margin

    This tab displays a list of units sold and shipped, along with their gross margins. It provides insights into the profitability of sales transactions and helps track gross margins for financial analysis.

    Parameters:

  • Model Number: Unique identifier for each model. Unit
  • Name: Name or designation of the unit. Description: Brief
  • description of the unit. Serial Number: Unique serial number
  • assigned to each unit. Sales Order Number: Unique identifier for
  • each sales order. Estimated Shipping Date: Expected date of
  • shipment. Actual Shipping Date: Date when the unit was actually
  • shipped. Invoice Number: Unique identifier for each invoice. Total
  • Cost of the Unit: Total cost incurred in manufacturing the unit.
  • Labor Cost: Cost associated with labor for manufacturing the unit.
  • BOM Cost: Cost of the bill of materials required for manufacturing
  • the unit. Freight Cost: Cost associated with shipping the unit.
  • Battery Cost: Cost of any batteries included in the unit. Gross
  • Margin: Profit margin for the unit, calculated as the different
  • between the sales price and the total cost. Rep: Sales
  • representative responsible for the sales order. Location: Location
  • or region associated with the sales order. Model

    • Functionality:

    1. Total Parameters:

    At the top of the list, total parameters illustrate the aggregate values based on the filters applied to the list. These include total costs, total sales, total gross margin, and gross margin percentages, total price amount, and total cost amount. This provides a quick overview of the financial performance related to sales transactions and gross margins for the specific example.

    2. Checkbox for Sales Orders:

    By checking this checkbox, Phocus automatically lists out units and their associated gross margins based on sales orders. This feature allows users to filter the gross margins based on specific sales orders, enhancing flexibility and analysis capabilities.

    3. Filtering and Analysis:

    Users can filter the list based on various parameters such as model number, sales order number, rep, client, location, etc. For example, users can filter out the gross margins of a specific sales order. Phocus will list all the units in that sales order with their detailed gross margin information along with the total gross margin amount, percentage, total price, and cost amount.

    4. Examples of Filtering:

    Users can filter the list to view the gross margins of a specific sales order. For instance, by filtering out a sales order, Phocus will list all the units in that sales order with their detailed gross margin information, along with the total gross margin amount, percentage, total price, and cost amount. Similarly, users can filter by model number to view all units sold for that specific model, along with their gross margin details, and the total gross margin amount, percentage, total price, and cost amount.

    2- Invoices

    The Invoice section in Phocus is crucial for managing and tracking all financial transactions related to invoicing. It consists of two essential components: the List and Detail pages.

    In the List section, users have access to a comprehensive list of all invoices associated with the company. Each invoice can be searched using various parameters available in the list.

    Parameters:
    1. Invoice Date: Date when the invoice was generated.
    2. Invoice Number: Unique identifier for each invoice.
    3. Sales Order Number: Unique identifier for the corresponding sales order.
    4. Sales Order Date: Date when the sales order was created.
    5. Actual Shipping Date: Date when the items were actually shipped to the customer.
    6. Estimated Shipping Date: Expected date of shipment.
    7. Total Sales Order Amount: Total amount of the sales order.
    8. Client: Customer or client associated with the sales order.
    9. Rep: Sales representative responsible for the sales order.
    10. Status: Current status of the invoice (e.g., paid, pending, etc.).
    11. Balance: Remaining balance on the invoice.

    Users can navigate to the Detail page of each invoice by clicking on the detail button associated with each invoice listing.