The General fund can be used to provide customers with a one-off discount. This fund can be used flexibly per the customer's agreement, e.g. Cashback.
How to add the General Fund to the Quote
The Sales team can add the General Fund to the financial summary on the right of the Quote Builder screen.
The General Fund will automatically reduce the deal profit in the quote by the value entered.
Adding the General fund of £200.00 as an example has reduced the Deal Profit to £575.00.
The General Fund is also included in the Profit & Turnover Breakdown
Approval Rules for General fund
Approval rules can be triggered when a General fund is added to a Quote. Follow this article to understand and apply approval rules.
Financial Summary Report
This report is permissions based and can be accessed by clicking on the £ icon in the header on the Quote Builder Screen.
This report includes details of the General Fund added to the Quote under the Discounts, Subsidies and Terminations section.
Quote to a Sales Order Conversion
The quote once signed is automatically converted to a Sales Order, it is created with the General Fund taken across as well.
The General Fund value can be adjusted by the Provisioning team depending on the permissions provided. This can be done on the Sales Order screen under the Header Tab under the financial incentives section.
Ensure you Save the changes made to the Sales Order
Leave comments if any for the Finance team while approving the Sales order
Only users with the permission ‘Update Sales Order Financial Incentives’ can amend applied Funds
The 'Profit log' tab within the sales order will also show the amended general fund and the new deal profit
Sales Order to a Customer Balance Conversion
Once the sales order is processed the provisioning team will convert the sales order to assets.
Converting to an Asset takes you back to the Customer record.
Together with the assets, all financial incentives will be converted into customer balances and the customer record now reflects the General Fund excluding VAT.
Converting to an Asset also updates customer transactions which are visible in the finance tab.
Reports for new transactions and account balances
The customer balance report and customer transaction report will show the current balance of a customer's account and the history of any transactions such as the credit/debit of the general fund.
To access the Reports, click on the Reports ribbon at the bottom of the screen.
Note: This is permissions based, speak to your Supervisor and then your Layer Admin if you require access to specific reports.
Customer Balance Report by Period (Date)
All Transaction Report
All Transactions by Sub Company
How to adjust the General Fund
Once the balance is live in the customer record, it's possible to adjust the general fund at a future date if required.
Create a New Transaction
In the Customer record, click on the New Transaction function.
Select the following to process the transaction:
Direction: Debit (-) as we are deducting this from the General Fund
Type: General Fund
Sub Company: The Sub-company this transaction applies to
Description: Add the required notes for this transaction
Upon completing this transaction, you will notice a confirmation pop-up on the top right corner of the screen.
Details of the above transaction can be seen in the Finance tab of the customer record.
You will also notice the General Fund in the customer balance is reduced to £0.00.
For more information on the New Transaction function click here.
The permissions are Role-based, please contact your Supervisor if you have limited access.
Sales Order and Quotation Finance report: Opt-in
Create Customer Transactions: Opt-in
User access to the Finance Module: Opt-in
Hide customer tab-Finance (Opt-out): Opt-in
Hide Transaction Summary (customer): Opt-out
Hide Transaction Summary (Sales Order): Opt-out
If you want to use the General Fund to log credit card payments, follow the article here.