Reconcile Your Bills

Here's How to Reconcile Your Bills in Bionic for Agencies.

Bionic will assist you with reconciliation by utilizing the order and performance data to help you understand what you should be charged each service period.

Once orders have been set up, you are able to create bills by service period. The bills are intended to reflect details of the invoices you receive from the respective vendor, which can then be shared with accounting for payment.

In this article, we'll cover:

1. Create a Vendor Bill
2. Configure New Vendor Bill
3. Edit a Bill
4. Delete a Bill

Create a Vendor Bill

When creating a new Vendor Bill, if you have performance data, Bionic will automatic calculate the expected reconciliation amount. However, you can override this calculation with your own reconciled amount. If you do not have performance data, Bionic will provide insight into what was ordered for the period to help guide you.

Here's how to create a new vendor bill for an order:

1. You can create a new Vendor Bill by going to:
   
   1. The Finance Tab of the Order you wish to create a new bill for.
   2. The Finance Tab on the Home Page.
2. Click the Add Bill button above the Finance table or, if in the Order, in the Billed Column of a Service Period.

Create a Bill within an Order

Create a Bill from the Finance Tab on the Home Page

Configure New Vendor Bill

Once a new bill has been created, you can choose to override any of the calculations made by Bionic. Here is a list and descriptions of the fields you can configure in the bill:

1. Bill Ref Number - Manually enter the invoice/reference number to correspond the bill (a.k.a. invoice) received from the vendor.
2. Bill Date - Manually enter the invoice date to correspond the bill (a.k.a. invoice) received from the vendor.
3. Due Date - Automatically calculated based on the Payment Terms specified on the settings tab of the order. For example, if your Bill Date is April 5^th and your payment terms are Net 30, then your Due Date will be May 5^th. Although this is calculated, you can manually override the calculated value if the due date on the vendor’s bill is different.
4. Bill Amount - Manually enter the total amount of the bill (a.k.a. invoice) received from the vendor.
5. Vendor – The vendor from which you received this bill. This is automatically prefilled when you create the bill from an order. Otherwise, select your vendor from the drop-down list.
6. Order – The order that is being billed. This is automatically prefilled when you create the bill from an order. Otherwise, select your order from the drop-down list.
7. Service Period - The service period that is being billed. This is automatically prefilled when you create the bill from an order. Otherwise, select your order from the drop-down list.
8. Billing Document (if applicable) - Optionally attach invoice or any other documents that are related to this bill.
9. Notes (if applicable) - Optionally add notes to this bill.
10. Total Ordered – This is the total amount of the Order related to this bill.
11. Previously Reconciled – Automatically calculated sum or previously reconciled amounts of other bills related to this order.
12. Remaining order – Automatically calculated Total Ordered minus Previously Reconciled.
13. Fulfilled thru Service Period – Automatically calculated sum of the amount of media delivered through the last day of the Service Period. Note that this calculation depends on the Calendar selected in your Order Settings tab: Gregorian (Standard) or Broadcast. For example, for the service period March 2021, this end of the Service Period is March 31, 2021 on the Gregorian calendar or March 28, 2021 on the Broadcast calendar. 
14. Fulfilled but Unbilled – Automatically calculated Fulfilled thru Service Period minus Previously Reconciled.
15. Ordered in Service Period – Automatically calculated portion of the Total Ordered in this bill’s Service Period. Note that the start and end date of the service period are contingent on the Calendar chosen on the Order Settings tab. For example, for the service period March 2021, the service period is March 1-31, 2021 on the Gregorian calendar or March 1-28, 2021 on the Broadcast calendar.
16. Maximum Billable Amount – Automatically calculated as the lesser of Remaining Order, Fulfilled but Unbilled, and Ordered in Service Period.
17. Reconciled – Automatically calculated as the lesser of Bill Amount and Maximum Billable Amount. You can override this default value.
18. Once configured, Click Create.

Edit a Bill

Once a bill has been created, you have the ability to view/edit the bill details. Here's how to view/edit bill details from the Order's Finance Tab:

1. From the Finance Tab in an Order, click on any of the Anchor Text in the table.
2. Make any applicable/necessary updates to the Bill.
3. Click Save.

Delete a Bill

Once a bill has been created, you have the ability to delete a bill. Here's how:

1. From the Finance Tab in an Order, click on any of the Anchor Text in the table.
2. Click Delete.

Next Steps:

• Record Payments
• Review Payables