118 Certification Study Guide Series: IBM Maximo Asset Management V7.1 After these conditions are met, the system calculates any price differences between the invoice and the PO. Price differences can be the result of a change in the active exchange rate, or the result of a difference between what the vendor charged and the original PO price, or both. Price differences are handled in one of two ways: For issue on receipt items ( that is, those items not purchased for inventory), the price difference is always applied to the work order, location, equipment, or GL account specified on the PO or Invoice Lines tab. For inventory items, the Average Cost field is updated. 6.8.4 Create an invoice that contains multiple vendors You may enter company branches into the system and associate multiple company records with a parent record. You may then use the remit- to information of the parent company on an invoice. When you create an invoice specifying a parent company, the look- up list from the PO field contains all the purchase orders for the parent company and its branch companies. If the PO field in the Invoices application contains a purchase order, the lines of the invoice include the lines from the current PO only. If the PO has company information, the vendor information from the parent company does not overwrite the vendor information of the PO. Creating an invoice that contains multiple vendors is a three- part process: 1. Create a company record for each branch and associate it with the parent record. 2. Create purchase orders for the parent and branch companies associated with the parent company. 3. Create an invoice that references the parent company. 6.8.5 Add taxes to the cost of an invoice line item Certain businesses require that taxes be reflected in the total price of some or all purchased goods and services. Adding this procurement cost to the item price increases a stocked item's average cost. If an item is issued directly to a work order, general ledger ( GL) account, location, or asset, taxes are added to the cost of the individual item. The Loaded Cost field indicates the total cost of the item, including taxes and service costs.
Chapter 6. Purchasing 119 IBM Maximo Asset Management enables you to define the category of line items to which you can add taxes: No items option indicates that taxes are not added, and are not reflected in the cost fields of the Inventory or Work Orders applications. All items option indicates that taxes are added to all line items on the invoice. Adding taxes to the item price increases a stocked ( inventory) item's average cost. Issue- on- receipt items only option indicates that taxes are added to only those items that, upon receipt, are directly issued to a work order, GL account, location, or piece of equipment. This option avoids increasing the average cost of stocked items.