2013 flex billing pt2- final versionPresentation Transcript
Miscellaneous Advertising entriesAs with all other sections of the FLEX, there can be misc.entries (rebates or charges) processed.If back-up documents are provided, they will be included inthe FLEX package.In some cases, as with this example, there is nothing to sendout, so the contact person’s e-mail address is provided anyinquiriesIn some cases, entries will be based on information you haveaccess to in your system – with this example, the rebate isfor the number of coupon # 198-0732 that were scanned atyour store.
Various Freight TransactionsWarehouse/Direct Ship Bills of LadingDepot Freight ChargesPurolator InvoicesOther carrier invoicesConsolidated Dealer ReturnQuarterly Short Shipment Rebate
Warehouse & Direct ShipBills of LadingCharge for the freight on Warehouse/Direct Ship invoicesBL number listed on the FLEX matches the number printed on thesummary sheet of the invoice, and the reference number on theactual Bill of Lading document.Charge is based on the “A” Dealer value of the load ofmerchandise (listed under the quantity column) multiplied by thestore’s freight rate (listed as the “Discount Rate” in the FLEXdescription).’NOTE – invoices with an “A” Dealer value of $100,000 or morewill have a split charge for the freight – the quantity column is 5digits only, so the charge won’t fit.
Depot Freight ChargesFreight charges for Depot InvoicesCalculated the same way as the Warehouse/Direct Ship B/LchargesDepot Freight charge reconciliation report included withFLEX package allows you to match the FLEX charge to theDepot invoice (the Source Document number is the linkbetween the two reports)
Purolator InvoicesInvoices are not laid out in a format that allows us tosend copies in the FLEX packageAll FLEX entries will include the Purolator PINnumber. You can check on the shipment atwww.Purolator.com to determine delivery date, andreceiver’s signaturePurolator shipments should be billed directly to yourown account – to help ensure this is done, please pointout when placing an order that the shipment should besent Purolator COLLECT.
Other carrier invoicesCharged the same way as an FMA invoice, but without mark-up applied.Copy of packing slip left at time of delivery should be enoughto match to the FLEX chargeCopies of the invoices are available upon request
Consolidated Dealer Return – CreditTransportationCharge for freight on the return of merchandise toAdjusting (credit transportation means it’s a credit to theTransportation Department)Charge is for the return of Casting items, Line ReviewRecalls, and certain Authorized Returns (Adjusting repto determine).Calculated the same way as the BL chargesThe total “A” Dealer value is reported on the Adjusta-Card report (same week as the FLEX), in the far righthand column (called the “DLR $ Charged” column).
Quarterly Short Shipment Rebate When there is a short shipment on a Direct Ship or a Warehouse invoice, andyou file a shortage claim, you receive a credit for the missing products on theMerchandise Control report. However, when you were charged for the freight on the original shipment, itwas based on the “A” Dealer value of the products listed on the invoice, notbased on what you actually received. On a quarterly basis, the Transportation Department generates a credit for thefreight charged on all short shipped products. The credit is calculated the same way as the original freight charges: “A” Dealervalue of the products multiplied by your store’s freight rate. Currently no reconciliation report available, aside from reviewing the quarter’sMerchandise Control report. Options are being explored for better back-up.
Billing Category 05Garage Equipment & Fixtures
Vendor InvoicesSimilar to the FMA invoices, butwithout corporate mark-upappliedInstead, a consulting fee ischarged (billed as a separate lineitem) according to the followingscheduleCopy of Purchase Orderretained by store – match toinvoice & FLEX transaction
Billing Category 06Store Equipment & Fixtures
Fixture PO Vendor DirectBased on store receipt packets received at the store for all Activefixtures and POP.No copy of the purchase order or vendor invoice will be issuedwith the flex bill. Copies are printable at the store. See attachedinstruction sheet.FLEX charge will be a summarized amount for all active productson the invoiceStores should use receiving reports to reconcile their flex bill (linkInv. Ref# with specific products).
Fixture PO Vendor DirectTo print the receiving report BEFORE posting to inventory (PREFERRED): From the master menu, select 05/01, Work with invoices. In the "Opt" field beside the appropriate invoice #, type the number 6 and press Enter. The report will print onthe main store printer. File the report and then reconcile it with the Flex bill when it arrives.To print the receiving report AFTER posting to inventory: From the master menu, select 05/05, Display Receipt History. Press F9. Beside "Show only invoice number", type the appropriate invoice #, press Field + and then press Enter. Press Print and then press Page Down. This prints the contents of the screen on the main store printer. Repeat step 4 for each screen displaying that invoice number. File these pages and then reconcile with the Flex bill when it arrives.
Custom FixturesA copy of the P.O. should be retained by the store when theorder is placedA copy of the packing slip should be added to the P.O. copywhen the load is receivedThis should allow you to match to the FLEX entry.Further back-up is available upon request (not currentlyprintable at the store)
Vendor InvoiceShould be little activity of this sort, but still possibleSame process for reconciliation as in Category 05 above, butthere is no Consulting Fee or corporate mark-up applied.
Billing Category 07Display
FLEX Online Work OrderExactly the same as in Billing Category 02, but for Displayitems only
Fixture PO Vendor DirectExactly the same process as in Category 06, but for Displayspecific fixtures
Miscellaneous Manual transactionsBilling Category 07 is where any other type of non-standardDisplay related transaction could be processed.As with all manual transactions, if back-up is not includedwith the FLEX, you can check the My CT Portal forinformation, consult with the contact person named in theFLEX entry or get in touch with us at FLEXINQUIRIES@cantire.com
Billing Category 08Insurance
Marsh Canada InvoicesNo back-up documents provided to the FLEX Billingdepartment, due to confidentiality issues.Invoices are mailed to the Dealers directly from MarshCanada.Copies or information available from Marsh Canada uponrequest.All adjustments must be directed to Marsh Canada as well
Billing Category 09Rent
Real Estate RentalTotal from Monthly Rental Statement is listed on the FLEX forcollection purposesMatch Rental Statement total to the FLEX.Report any issues to FLEXINQUIRIES@cantire.com – requestswill be forwarded to the appropriate contact within the RealEstate Department to resolveNOTE – The Rental Charge is often applied to the DealerStatement on the same week as the balance from CTAL. This willresult in a larger than average grand total being collected for thatweek. This sometimes causes concern at the store, with theassumption being that there must be a billing error for the totalsto be that high. Refer to the Rental Statement & DealerStatement to confirm totals
Billing Category 10Interest
Interest Charges• The only time a transaction will appear in this category, is ifinterest must be charged to a store due to an NSF issue.• A detailed back-up document will be provided to the Dealerwell in advance of any transaction being processed throughthis category
Billing Category 11Coupons
Coupons OrderStore retained coupon requisition form, with referencenumberFLEX entry lists the reference numberMatch FLEX total to form total, report any discrepancies toFLEXINQUIRIES@cantire.com
Coupon FeeCharged 0.5% on value of coupon orders – handling feeConfirm calculation based on the coupons total billed on thesame FLEX
Return CouponsCredit for the coupons returned to Home OfficeBased on return form, copy of which is retained by the storeMatch the FLEX credit amount to the amount listed on yourform
Some final tips Tip #1 – the Flex Billing process run without you! Although it is essential that you fully understand and monitor your Flex Billing reports,you do not have to be an expert on the day you take over your store There is no time limit for making inquiries or reporting errors If there is a staff member at your store doing the Flex reconciliation, rely on theirexpertise the first weeks Get involved and stay involved to ensure that your Flex is being reviewed to yoursatisfaction Tip #2 – create and maintain a Flex Billing filing cabinet Have a folder for every type of transaction processed on the Flex (vendorinvoices/packing slips, work orders, Auto Depot invoices, etc.) Create a memo describing the transaction, listing the type of back up document toexpect and any other notes you may need to perform the reconciliation In each folder, keep any back up documents you may receive prior to the Flex billingreport; match these to the entries on the Flex These folders should be your first source
Tips… Tip #3 – Yearly Checklist Some stores have found it helpful to create and maintain a list of transactions that appearon the Flex monthly, quarterly or annually This allows you to easily monitor these transactions, record what the entry is for, andappropriately plan for the charge or credit Examples include quarterly short shipment rebate, yearly service contracts, monthlysupported markdown rebate, etc. List the transaction name, the frequency, the amount and the Flex week number itappears on. Also include any notes you may require to explain what the transaction isfor and what type of back up to expect Tip #4 – Special Orders When ordering for a customer ensure that you are quoted the cost in Canadian fundsand that the shipping costs (if any) are included Be sure to add in the corporate mark up (16%) before calculating the charge to thecustomer Chances are that you are going to receive the item before you are flex billed for it somake sure you are not short changed!
Tips… Tip #5 – Adjusta-card Report Discrepancies The totals listed for Billing Category 01 and 02 on the last page of the Adjusta-Card reportsometimes do not match the totals listed for the Adjusta-Card report on the Flex Billing Not as big of a problem as it sounds like… Could be Type 51 Adjusta-Cards (repairs)—the card totals are listed in Category 01 on theAdjusta-Card report, but they show up as part of the amount in Category 02 on the Flex. If thegrand total on both reports match-up, this is what has happened. No adjustment is required Sometimes credits are rejected on Flex due to systemic issues. If this happens, the amount isautomatically added to the following weeks Adjusta-Card credit on the Flex. Check next weeksFlex to ensure that it is overstated by the missing amount Tip #6 – Gift Certificates Try to get the outgoing Dealer to pay you for the total of all outstanding Gift Certificates This way, when a Gift Certificate is eventually cashed and you are billed for it, you already have thefunds to cover the transaction Otherwise, it is up to you to contact the outgoing Dealer every time you are charged for a G/Cthey sold. The outgoing Dealer is required to pay you for it CTC Corp does not track the migratory patterns of retired Dealers, so make sure you know how tocontact them!
Tips… Tip #7 – CTDA Transactions Canadian Tire Dealer’s Association utilizes the Flex Billing to process credits and charges to stores for a variety ofreasons Some are CTDA dues, others are related to leases or service agreements, others are payments for serviceproviders All transactions have associated back-up paperwork. This is sent to the stores directly from the CTDA offices,sometimes before the Flex transaction You should maintain a CTDA folder in your Flex Billing filing cabinet and refer to it for back-up documents orexplanations for the charges. Tip #8 – Imported Vehicle Inspections Track the inspection form numbers and the date you submitted them. Check them off your list as they areprocessed on your Flex If a form goes for 3 months without being paid, contact us. If you are paid for a claim that isn’t yours, contact usas well Adjustments will be made as soon as a store notifies us Note: The claim forms are manually keyed, so: MAKE SURE YOUR STORE NUMBER IS CLEAR—the numberone cause of missing credits is an unclear store number on the form
Tips… Tip #9 – IBM You are charged monthly for the lease of your IBM equipment When you take over the store, conduct an audit of all IBM equipment, listing the serial number, make and modelnumber, description of the equipment (scanner, printer, etc.) and the location of the equipment in the store Review the IBM invoices (available on the IBM website) that you have been FLEX billed for, and ensure that youare not being charged for equipment you do not have. Call IBM with any discrepancies—their number is listed on the invoice Tip #10 – Purolator You will be billed for various Purolator shipments on your own Purolator account and on Flex Billing There is no way to determine the contents of a Purolator package based on the records available to Purolator orHome Office Many stores maintain a log book of incoming Purolator packages, listing the Bill of Lading or PIN number, thedate and a description of the contents (after opening the package.) This is made available to your store’s officestaff Purolator can be instructed to deliver to one specific location in the store (receiving, customer service desk) tomake this task easier
Tips… Tip #11 Double Charge for Warehouse B/L’s? Stores are charged for freight based on the “A” Dealer value of a load multiplied by your store’sfreight rate On the Flex Billing, the “A” Dealer value is listed in the quantity column We only have 5 digits to work with in the quantity column If the “A” Dealer value of the load is $100,000 or more, we have to split the charge The BL number is listed twice, so this looks like a double billing Tip #12 – Warehouse Invoice Discrepancies (including Direct Ship and Auto DepotInvoices) DO NOT INVOLVE THE VENDOR! If you receive an over shipment or a short shipment, simply file the appropriate claim throughMerchandise Control If you need to return product from one of these invoices, use the appropriate Adjusta-Card Trying to resolve these issues any other way does not work—you will not receive the full creditor the reporting bonus you are entitled to Contact the Returns & Warranty department if you are unsure of the correct process to follow.
Dealer StatementThe Dealer Statement is a high level, weekly summary reportIt lists all of your store’s transactions in an easy to follow formatThe report is divided into five sections:Dealer Cash Flow ReportPresent Position Statement By Week DueNew EntriesItems Due For Payment NowBalance Due Summary
Dealer Cash Flow Report
Dealer Cash Flow ReportThis lists the exact dates and specific amounts that will bewithdrawn from your bank account.This information is made available on the My CT Portalevery SaturdayThese totals can be confirmed by reviewing thePresent Position By Week Due section on the DealerStatement.
Dealer Cash Flow ReportThe reference numbers for each collection will appear onyour bank statement.They will also show on the following weeks DealerStatement as confirmation that these totals were clearedfrom your A/R.
Present Position by Week Due
Present Position by Week DueThis section shows the total amount your store currentlyowes for Merchandise & Non-Merchandise purchases.The first line lists last week’s Placing & Promotion balance,which will not have been collected by the time this DealerStatement is generated.The second line lists the current week’s balance due, aspreviously shown.The remaining lines show a running total of all future datedcollections. These totals are based on data listed on theSummary Pages of your Warehouse/Direct Ship invoices.
New EntriesThis section lists all new activity for this week, including allWarehouse and Direct Ship invoices as well as this week’s FLEXbilling (note – each FLEX Billing Category is considered to be it’sown separate invoice)The entire amount due for each of these invoices is listed hereInvoices will only appear here once, the first week they are newNo withdrawals are processed based on the totals in the newentries sectionThe last part of the New Entries section shows the dispersal ofnew entries by week dueNOTE - The monthly CTAL Statement balance will also appearon your Dealer Statement (back-up is provided separately, fromCTAL)
Due For Payment
Due For PaymentThese are the amounts that have now come dueAs we’ve seen, these are the totals listed on each invoice’ssummary page
5% discountAll invoices on the Dealer Statement receive a 5% discountThis discount is applied on the sub-total of the Due ForPayment section
Balance Due Summary
Balance Due SummaryThis is a very high level summary of the activity that hasoccurred on your statement over the past week
The best way to contact us is via E-mail at:FLEXINQUIRIES@cantire.comYou can also contact me directly at:Dave.Simpson@cantire.comContact Information