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Implementers Topics: Martin Bauschmann and Christina Prell (Continued from Feb.14th meeting)
162: Invoices: Ability to enter the final price later or update the cost data after receiving the account statement (MBS)
163: Invoices and OA: Link from invoice app to OA app via invoice number
164: Invoices and OA: Link OA invoice from the publisher with an in-house invoice to the corresponding author
Discussion topics
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Presenter
Notes
Time
Item
Presenter
Notes
Housekeeping
Heather McMillan
WOLFcon '25 acquisitions related presentations?
Discussing Serials
Owen Stephens 8:04 AM If there are any specific things people want to see on Serials please also let us know
Dennis
Considering doing a session on consortial purchasing/ordering operations
Session on integrations - expanding API capability
Ability to create orders, update orders, and get order information from edge orders API
Plan to add GET APIs for a lot of the data lists
API third parties could use to get fund codes, locations, acquisitions data
Owen - I’m also very happy to do a demo of the latest Serials Management app functionality for this SIG at a meeting - in fact it would be great to do a presentation on the Sunflower developments
With shift from pending to open would have pending transactions
Approval step - someone has determined that it is okay to pay the invoice. Generate voucher which goes to accounts payable or some financial system. If edits made after that point, could end up with inconsistencies between voucher details that financial system received and financial details in FOLIO.
Third solution - creating encumbrances
It doesn’t make sense to have an order record for open access
If the goal is to commit the money, such that there is some consideration in fund structure, that is what encumbrance transaction is meant for, which is why order records generate encumbrances.
Encumbrance transaction requires an order ID
Would be great if OA transaction could create an encumbrance
Parallel structure to order in orders app that is an OA charge that could create encumbrances and appear on invoices
Limit on amount that can be paid out of library funds - limited in local currency, but total amount is dependent on exchange rate.
Amount library wants to pass from its own funds is in Euros (local) - amount billed is changing because of exchange rate. As it stands, no way to use existing ability to update exchange rate to correct in rational way what is being done here.
Need method allowing for corrections or amendments that maybe need to generate another voucher?
See Google document for 4-step example of this payment limit / exchange rate issue.
Feature for exchange rate to go the other way - have local currency amount fixed and change foreign amount to whatever it needs to be
Ann - Have a fund considered a “clearing fund” when sharing expenses with other departments. On a monthly basis transfer expenses to other departments. Clear on a monthly basis - create a negative invoice. At end of fiscal year, amount is 0.
Library pays out of pocket and then bills
Lisa Smith, Mich State 8:40 AM Same, Ann - we create funds to track departmental contributions
:43 - Fund transaction amendment?
Currently don’t support. Two funds: Main Library & Library A. 50 % split each. Total of invoice is $100. When you pay, create a payment transaction for $50 from each fund. If you change total amount to $80, need to change payment transaction amounts to $40 per fund. FOLIO does not edit these. Would need to cancel invoice and create new.
Payment split across two funds. Invoice is open and voucher is sent. Get exchange rate correction from accounting - can update that on the invoice. What happens to the transactions that exist already? That must adjust. Those are pending payments. It’s approved. Can’t edit once paid.
Updates transactions how? - updates total amounts
Will change amount paid in local currency - will effect value of the pending payment transactions.
Main problem - change is not evenly distributed
Library pays a fixed amount, author pays remainder.
Invoice amount is fixed - it will cost this amount.
Fixed amount percentage of invoice currency, not the system currency.
If other party is paying whatever is remaining, FOLIO doesn’t have a mechanism for that right now - would be new functionality.
Variable fund distribution setting
Don’t have the ability for a fund to cover the remaining amount.
Owen and Martin will discuss and bring back to group.