Finance Process

Finance Process

Finance Process

The finance process for the WMS module within TransVirtual is very easy to follow and can vary depending on the way your business operates.
In this article we will cover the recommended process, as well as how the features work within the software.

Rate cards

A rate card is where all of your pricing is stored, here you can specify how much storage and movements will cost your customer.
To create a rate card you will need to go to Finance > Configuration and Setup > Rate Cards        

Once in the rate card page, you will be presented with a few options, the tabs we want to focus on are Storage Rates and Movement Rates.

Movement Rates

To begin with we will be focusing on movement rates so that we can generate pricing based on the movement of an item from one location to another.
Initially you will need to ensure that the customer movement rates tab is selected:

Then we will select the "New Rate" button which will give us a pop up window requesting you to select a customer.
This will be the customer that this rate card applies to.
You will now see that the rate card created is on the left hand side in orange, if you click on this line, the rate card is selected, allowing you to edit its information on the right hand side.
On the right hand side, the information presented is:

Title - The name of the rate card.

Zone Listing - The zone list that applies to the rate card, this will be defaulted to your headports.

Enable Rate - This is the toggle that allows you to enable to rate card, making it active and applicable.

Memo - A section for any special text notes you wish to enter against the rate card.

Default Rate Card - This toggle will enable the rate card to apply for all customers that do not have their own rate card to apply, this can also be used as a "one for all" rate card.

Customers Assigned to Rate Card - This is where you can add more customers to a rate card and see exactly which customers currently apply.

Detailed Rates - Your detailed rates are the rates that you will be entering, these are the main rates that apply to the customer.

Shadow Rates - Shadow rates allow you to apply other rates to a customer, these rates can be considered alternative, secondary or "backup" rates.

Rate Schedules - Your rate schedules are how you can apply different rates over different date ranges as you will see, this feature allows you to do increases, add margins, filters and more.

Create a Rate Schedule

Initially you will have a rate schedule that is created when you create the rate card as you can see in the below screenshot.
To create a rate schedule, simply select the green plus button in the right hand corner:

You will then be presented with a pop up window:

You can select "New Schedule Effective Date" which will allow to select when you need this schedule to apply, this can be a previous, current or future date.
You will also be able to add a percentage, this allows the rate card to either be increased or decreased based on the percentage value you enter.

Creating Movement Rates

Now that you can create rate cards and alter rate schedules, you can start entering rates/prices for the movements in your warehouse.
Firstly, you will need to click on the rate schedule you wish to edit, this means you will be editing the rates for the rate schedule date range.

Now that you have clicked on the hyperlink, you will be presented with the below page:

TransVirtual follows a very logical step by step process to simplify the rating process, as you will see listed out below:

Step 1: Movement Type

This is the first step in your movement rate card, this specifies when the charge applies, as you can see you can set the price for when you have a movement out via an order or a manual movement, internal movement, movement in etc.
This allows you to enter different rates for every type of movement within your warehouse, in our example however, we will be focussing on an internal bin movement.
Internal bin movements reference when an item moves from one bin location to the other within the warehouse.

Step 2: Stock UOM

In this step, you will be selecting which item you are pricing, you can specify how much it costs to move an induvial unit, case, pack or bin.
You have the option to automatically override within the rate card in step 2 by dropping down the stock UOM and selecting "Override".
Overrides will be explained further down the article as they are an applicable feature to other rate card types.

Step 3 : Warehouse

You will need to select the warehouse in which your rates apply, as per below, we can either select the main warehouse or the secondary warehouse to add our pricing:

Step 4 : Add/Edit Rating Details

Here is where you enter the prices of your movements, you can enter:

Flat Rate - A flat one off charge against any number of items within a movement.

Quantity Rate - A charge based on per item moved.

Minimum Charge - A minimum charge against the connote, meaning if a quantity rate does not reach your minimum, then the minimum will be the default charge.

Maximum Charge - An overall maximum charge where the charge against a customer cannot exceed what has been entered here.

To enter the rates, simply drop down the type of rate you would like to enter, then select the green plus.
This will then present you with the option to enter a rate, change the rate title, enter any data filters or copy over rates (For more information on copying rates or entering data filters, please review further down the article).

Quantity Rate Concept

The other rates in the rate card are simple to enter as they are one off charges, however, quantity rates apply based on the quantity of items within a movement.
Essentially this means that you need to specify your level of pricing, for example, you may wish to charge $5 per item moved, however if you move a total of 10 items, you may want to provide a cheaper rate:

Now as you can see here, the from section is where you begin your bracket and the rate is where you enter the price for that bracket.
In the above example we have stated that if the amount of items moved is under 10, we charge $5 per item within the movement.
If the items moved are between 10-14 we charge $3 per item and if there are more than 15 items within the movement we charge $1.85 per item moved.

Storage Rates

Storage rates provide you the ability to charge customers for the storage of their stock within your warehouse, these storage charges initially need to have the correct settings selected prior to applying any rates. 
These settings can be adjusted on both the global level and also the customer level, the Warehouse Related Rules can be found by either going to:

Configuration > General > Global Setup > Warehouse Related Rules
Warehouse > Configuration and Setup > Customers > Click into Customer > Warehouse Related Rules

In our example we will be looking at the global settings:

Now here you will need to enable the Warehouse Storage rates by setting the toggle to yes as per the above image.
You can set when to charge storage, whether or not to charge storage for a mixed bin and you can also exclude storage charges.
Once you have configured these settings, we can look at entering our rates.

Entering Storage Rates

To enter storage rates, you will need to go to Finance > Configuration and Setup > Rate Cards > Customer Storage Rates.
As per the movement rates, you will need to click into your rate schedule here:

You will now be presented with the standard four step process for used for rating in TransVirtual:

As you can see this is a similar concept to movement rates, however, you now specify the storage duration, this means you can charge daily, weekly, fortnightly or monthly.
To enter these storage charges, you will need to follow the four step process, where you select the duration you wish to charge for, select the unit of measurement, the warehouse and then charge via a flat rate, quantity rate or min/max charges.

Extra Information

Below is some additional information around freight item overrides, copying rates through the rate card and how data filters apply within the rate card.

Freight Item Override

Freight item overrides allows the system to automatically price around parameters specified in step 2 of the rate card.
Essentially the user can specify when they would like the stock UOM to override to a different stock UOM.
For example, if the user wishes to use a full pallet charge when the unit has a stock has an item name of "Wired Mouse" despite the stock UOM being used, they can specify in the override window.
To setup the override, the user needs to drop down a Stock UOM in step 2, in our example we will be overriding from "Unit":

This will provide us with a popup, this popup window will display some available settings that allow us to move the rate to another stock UOM.
The alternate UOM is the destination, in our example I would like to move the price up to a full "Bin" based on the storage item description equalling "Wired Mouse".
This means I will need to change the "alternate UOM" to be "Bin" and then I need to use the builder to specify that I want the alternative to be applicable when the Stock description is wired mouse.

Now that I have specified the path of our override, we need to use the data filter to implement a trigger.
To do this, just simply select the drop down, select the field you wish to be the trigger, then select your logic, then select your value:

Once you have followed the steps in the data filter, you will get the below result:

This should result in your override looking like this:

Finally, you do have the option of duplicating/doubling rates in your alternative item.
In our case, the alternative item is Bin, if we go to Bin > Override > Use rate from alternate step 2, we can set the rates to be based on the unit rates.
Simply select what stock UOM you would like to calculate our rate, then either multiply the price or multiply the quantity:

Now, your alternative freight item will price multiplied your specified amount from the previous stock UOM.

Copy rates

Copying rates in step 4 of the rate card is a handy feature, by navigating over to step 4 and dropping down on rate you have entered, you can select the "Copy" button:

This will present you with a large popup, where you can bulk enter rates and copy them to other areas of the rate card:

Data Filters

Data filters in step 4 of the rate card allow you to specify when rates apply, simply drop down the price in step 4 and select the "Data Filter" button.

This will present you with a popup where you can enter conditions to state when a price does and does not apply.
In our example we will be saying that we only want the quantity price for a unit in the main warehouse to apply when the zone title is equal to General.
To do this simply follow the data filter builder along by selecting your field to use, the logic type, then the value:

Which will then equate to:

Now the only time the quantity price applies is when the warehouse zone title is equal to General.


Now that we have our rate cards setup, we will take a look at how they can be applicable and how they invoice.
If we create an internal quick, we will see that we can move a stock item from Bin A to Bin B.
To see how movements work, please review our movements article.
In the completed movements page, you will see that a charge has been applied in the finance tab:

Your movements will automatically invoice.
When a movement price adds to an invoice it will look like this:

If we were to look at adding the storage charge to an invoice, it will apply a new tab as per the below:

Now as you can see, the charges, both movement and storage will apply to the invoice on separate tabs.
In an invoice you have a few options you can select from:
- You can double click on a line item to see how a charge applies.
- You can reprice an entire invoice by selecting the additional tab > Reprice Invoice Check
- Validate the pricing to ensure all pricing applies to the invoice correctly
- Add a manual charge to the invoice
- Add invoice memos
- Add user comments
- Check export events

Once you are happy with the invoice, you can select to close the invoice, if the invoice needs to be reviewed further after closing, you can select to "Approve and Draft".
Alternatively if the invoice is ready to be completely closed off, you can select the "Approve and lock" button.


Approve and Draft:

Approve and Lock:


The finance process can be altered to a certain extent to suit your needs, there are more features and abilities that are available in retrospect of the Finance Module.
Please continue to browse the Knowledge Base for more information on finance features and functionality.

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