TMS Finance Process Overview

TMS Finance Process Overview


Pricing Overview 

Each consignment can have many prices:
  1. One Customer Auto Price - Generated from the customer rate card and added to a customer invoice
  2. Up to two Agent/Supplier Auto Prices - one for pickup, one for delivery. Generated from the agent/supplier rate card and added to an agent/supplier invoice. 
  3. Multiple Manual Prices - added by staff, independent of any rate cards and available for both customers and agents   
The goal is to automatically price all consignments. A price can be made up of the following components:
  1. Base Price 
  2. Additional Services - e.g. wait time/demurrage, 
  3. Levies - e.g. Fuel Levy %
  4. Taxes - e.g. GST %

  

Base Price Overview

A base price is calculated from a rate card. It uses a four step process:
  1. Service Level - e.g. General or Express
  2. Freight Item - e.g. Carton, Pallet, FTL
  3. Route - e.g. Melbourne > Brisbane
  4. Rate - e.g. Basic + Kg or per item

Invoicing Overview  

Invoices can have one of the following status:
  1. Open - automatically created and opened based on predefined rules. E.g. daily/weekly/monthly invoice cycles.
    1. Prices automatically added by TransVirtual
    2. Repriced consignments will auto update invoice    
  2. Closed - automatically closed based on predefined rules. E.g. daily/weekly/monthly invoice cycles.
    1. No prices automatically added by TransVirtual
    2. Prices can be manually added, edited or moved between invoices by user
    3. Repriced consignments will auto update invoice    
  3. Draft Approved - similar behavior to Closed, often used when issueing RCTI's to trigger export events e.g. send email to subcontractor, 
  4. Approved and Locked - manually triggered by user after checks completed
    1. No changes allowed to invoice
    2. Prices locked on consignment, no changes allowed 
    3. No editing of consignment details due to impact on invoiced prices 

Invoice Export 

The approved and locked status is typically the trigger to send:
  1. An invoice email to the customer/agent including a PDF and/or spreadsheet attachment 
  2. The invoice level data to your accounting platform to facilitate the reconciliation of payments into your back account  

RCTI/Reverse Billing/Invoice Reconciliation

TransVirtual can generate RCTI's for subcontractors or suppliers. It can also generate agents/supplier invoices that allow you to reconcile RCTI's issued to you by your customers 

Pricing Overview Video 


Rate Card Overview Video 




Invoicing Overview Video 



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