QRV Software

Rushville, Indiana 317.679.1387

1003 The concept and uses of Pending Orders

All orders throughout ALERE can be created and saved as Pending Orders until they are released for processing. This means:

The idea of having an order that has been entered but not released solves many practical problems in a company. As an example, have you ever had the situation where an invoice from a supplier has been received and the pricing is wrong? Usually, these invoices sit on someone's desk, with notes attached to them, because they can not be entered as a payable until the problems are resolved. This means that their status is known only to that individual and not available to the organization. Of course, there is no chance that this way of managing them will result in them becoming "lost".

Pending orders allow you to enter the invoice as a payable but not release it. Dates, names, promises, etc., can be kept in the Notes section of the payable. This method permits the organization to maintain visibility of the problem invoice and monitor the progress being made to correct it. When the issues are resolved, the payable can be edited and release as a live payable. Furthermore, should a problem arise after the invoice has been paid the notes that were kept act as documentation.

Another important aspect of Pending Orders is that it permits ALERE to be operated both on an Accrual basis and a Cash basis. On a Cash basis, payables can be entered and released when they are paid. This is because Pending Orders do not generate any general ledger transactions. The transactions take place when the order is released.

There are many other uses for this innovative concept that you will come to understand after having used it.