Blogs, Finance, New features
Central invoicing of logistic activities to your sub-companies. How does it work?
16 February, 2023
4min. reading time
The logistics industry is a dynamic world. Chances are that you as a logistics service provider are active on multiple fields within logistics. If so, you still want to support all these different activities in one application. That would be most efficient. For that reason, 3PL Dynamics has the possibility to capture all your logistic services in one software solution. Every branch, from warehousing to transportation and forwarding, is a separate module within the integrated system. However, in addition, you can support your complete finance division with 3PL Dynamics. In this blog, we share how the registered costs and revenues in your logistic modules are the source for your invoice process.
Invoicing via your logistics software
3PL Dynamics consists of different modules. And besides the logistics modules, you can also integrate the finance module into your software – as you can see in the image below. With this Finance module in 3PL Dynamics – and Microsoft Dynamics Business Central – you send invoices automatically via e-mail to your customers. Including attachments as PODs or order specifications. Furthermore, you can recognize incoming invoices automatically and directly link them to the correct supplier. In this process, lines are automatically matched to the in the logistic document captured cost lines. In this way, your administrative department will get a more controlling function.
Your complete financial administration in one application
Do you keep your books in Dynamics too? Then, the benefit of working integrally in one system is empowered even more. Once the costs are registered, they can automatically be reserved in your financial administration and will automatically be booked in the right period. And, the administration is always in control when reservations are not automatically booked via an incoming invoice, by dropping them with a simple process.
Furthermore, the finance module has a work-in-progress-functionality, with which you only book results when the dossier is ready. This is for example particularly useful in sea freight. And these workflows are automatable via status templates too.
Recharge between departments and different companies
When you have different departments in your organization, internal recharging occurs regularly. If you automate this in your logistics software, the cost and revenue rules are automatically rules in a document of the other department via a status process. And vice versa. In addition, rules can also be booked automatically.
The functionality above ensures that working integrally within the same (logistics) financial company runs smoothly. But what if the logistics activities are housed in multiple companies? Do you then still have to split the modules per company? Or do your employees who work in more than one department have to switch between applications more often? If so, the feeling of integrated work would decrease significantly. And that is exactly what you do not want.
That is why 3PL Dynamics offers a solution when your operation is divided into different companies: central invoicing. This functionality uses the Central Layer module, which manages master data across multiple companies in one of those companies or in a specially created master data company. This can even be used across multiple databases or sites.
Invoicing with Central Layer; how does it work?
Invoicing with Central Layer works as follows: when you create a sales or purchase invoice, it is provided with a so-called C/L Partner code – part of the Central Layer integration. When booking the invoice, a bill number is reserved and retrieved for that partner. Then the complete booked invoice is posted in the financial administration of that company. The invoice is sent from the central operating company to the individual companies for payment.
The invoice is sent from the central work company, where all your logistics operations are configured too. Just before booking, the correct number is retrieved from the decentralized company, so that the booking series is in line with what the tax authorities expect from you. In this decentralized financial company, you can then remind, pay and settle the items.
Do you want to learn more about sending invoices from a central layer? Or do you want to know how you can capture your financial administration in your logistics software? Mail to email@example.com.