This program offers the following features:
- Single Monthly Invoices: Invoicing for all monthly orders and shipments are conveniently consolidated onto one month-end invoice. You will receive one invoice per month; twelve per year.
- Authorization: Only those employees authorized by your organization are given a unique purchase order number which acts as a permanent blanket order for all subsequent ordering.
- Information Rich: Reports provided by Imperial at month end provide you all audit trail records necessary to randomly verify the integrity of the program. Your need to match invoices, purchase orders, and receiving records for each shipped order is eliminated.
The following statements and reports will be generated by Imperial Supplies LLC on the last day of each month, and sent to the attention of your accounts Payable Department:
- Monthly Invoices: All your purchases, approved billing credits, and program billing credits ( i.e., steel equipment, inventory balance ), freight, and applicable sales tax will be consolidated on this statement to reflect total amount due by shop within each district. At the bottom of this statement, your total " amount due" will be shown, which you will make remittance on.
- Monthly Statement: Reflects all orders within the month. The report shows, by shop within each district, your purchase order number, date of shipment, and total order price.
- Billing Detail Statement: Reflects itemized billing. The report identifies, by shop within each district, product purchases, sales tax, and purchase discounts/credits.
- Detail Purchase Report: Reflects detail of specific product dollars purchased by shop within each district.
You will continue to receive a priced packing slip for each order. The packing slip will reflect product shipped, quantity, and price. Also, the packing slip, in conjunction with the above reports, will provide you with appropriate information for invoice payment and random audit inspection.
Monthly summary billing is a program that Imperial Supplies LLC offers to accounts with a favorable credit rating. Standard credit terms of this program are net, 10th of the month.