Here is how to reconcile your vendor bills in Bionic for Agencies.
Bionic can make reconciling your vendor bills easier. The details of your orders enable Bionic to calculate how much you ordered for each service period. If you incorporate your performance data, Bionic can also calculate how much got fulfilled. Once you enter your vendor bills, Bionic can help calculate the maximum billable amount and reconciled amount to help you validate that what you got billed for is correct.
This data can then be used to communicate to your Accounting department what has been approved for payment.
Here is how to reconcile and manage your vendor bills:
Reconcile Bills
When you receive bills from vendors, you will be able to use the data provided in the order, along with any performance data brought back into Bionic, to more easily reconcile and track which bills are ready to be paid.
Learn how to Reconcile Bills.
Record Payments
Once bills have been reconciled, and paid by accounting, you may opt to record those payments in Bionic.
Learn how to Record Payments.
Review Payables
As bills and payments are entered into Bionic, you may need to review what payables exist, balance status, or compile them to pass along to the accounting department for processing.
Learn how to Review Payables.
Set Bill Custom Fields
There may be scenarios in which you need to establish custom data references for Bills, whether for reporting purposes, or data mapping with another platform.
Learn how to Set Bill Custom Fields.
Set Payment Custom Fields
There may be scenarios in which you need to establish custom data references for Payments, whether for reporting purposes, or data mapping with another platform.
Learn how to Set Payment Custom Fields.