The Discount Approval form in ALZERP is designed to authorize discount requests, ensuring that discounts are applied correctly and in accordance with company policies. This module helps maintain control over discounts, prevent unauthorized discounts, and improve financial accuracy.
Key Features:
- Discount Request Review: Displays details of the discount request, including amount, reason, and customer information.
- Approval Decision: Allows approvers to approve or deny the discount request.
- Approval Notes: Enables approvers to add comments or explanations for their decision.
- Discount History: Maintains a record of approved and denied discounts for analysis and reporting.
- Inventory Adjustment: Updates inventory values if the discount is based on product quantities.
- Controlled Discount Management: By requiring approval, the system ensures that only authorized discounts are applied, preventing unauthorized financial adjustments.
- Audit Trail: The approval process creates a clear record of who approved or denied a discount, along with any notes or reasons provided, aiding in accountability and transparency.
- Searchable History: The ability to search and review past discount approvals helps in auditing and ensures that discount practices remain consistent across the organization.
- Efficiency and Accuracy: The form’s intuitive design helps streamline the approval process, reducing the likelihood of errors and ensuring that discounts are managed accurately.
The Discount Approval Form in ALZERP Cloud ERP software is a feature designed to manage and authorize discounts applied to customer accounts or sales transactions. This form ensures that discounts are carefully reviewed and either approved or denied by authorized personnel, providing an extra layer of control over financial adjustments.
Discount Approval Form Features: #
1. Discount Details Section: #
- Discount No.: A unique identifier for the discount entry, such as
Disc-1093
. This number helps in tracking and referencing specific discounts in the system. - Discount Date: The date when the discount was applied, for instance,
27/07/2024
. - Store: The specific store or warehouse associated with the discount, like
JEDDAH (MAIN WAREHOUSE)
. - Customer/Party: The name of the customer or business entity receiving the discount, e.g.,
EST.HABIB BIN MOHAMMAD (BG)(SHOWROOM)
. - Due Amount: The total amount due before applying the discount, for example,
4673.50
. - Discount Amount: The specific amount of the discount being considered, such as
95.50
. - Discount Note: A field to provide any notes or reasons related to the discount, explaining why it was applied.
2. Approval Section: #
- Approve Note: A space for the approver to add any comments or reasons for their decision, whether approving or denying the discount.
- Status:
- Approve Discount: Select this option to authorize the discount. Once approved, the discount will be applied to the customer’s account or sales transaction.
- Deny: Select this option to reject the discount. Denying the discount prevents it from being applied, maintaining the original due amount.
- Save to Submit: After making the decision to approve or deny, the form must be saved to finalize and record the action. This ensures the decision is stored in the system, updating the status of the discount.
Saved Data: History of Discount Approval #
The system maintains a record of all discounts that have gone through the approval process. This historical data is organized and searchable, allowing for easy access and review of past discount decisions.
- Search by Store or Warehouses: Users can filter the discount approval history based on specific stores or warehouses. This feature helps in narrowing down the data to relevant entries.
- Columns of Data: The historical data is displayed in a table with the following columns:
- #Sl: Serial number for easy reference.
- Discount Date: The date when the discount was originally applied.
- Discount No.: The unique identifier for each discount entry.
- Party Name: The name of the customer or entity to whom the discount was applied.
- Discounted Amount: The amount of the discount that was approved or denied.
- Status: The final status of the discount, indicating whether it was approved or denied.
#
How it Works:
- Discount Request: A sales representative submits a discount request with relevant details.
- Approval Routing: The system routes the request to the designated approver.
- Approval Decision: The approver reviews the request and approves or denies it.
- Discount Application: If approved, the discount is applied to the customer’s account.
- Discount History: The approved or denied discount is recorded for future reference.
Benefits:
- Fraud Prevention: Reduces the risk of unauthorized discounts.
- Financial Control: Maintains control over discount amounts and their impact on revenue.
- Compliance: Adheres to company policies and procedures regarding discounts.
- Audit Trail: Provides a record of discount approvals for review and analysis.
Additional Features:
- Multiple Approval Levels: Allow for multiple levels of approval based on discount amounts.
- Notification System: Send email or in-app notifications to approvers.
- Discount Quotas: Set limits on total discount amounts per period.
- Discount Reporting: Generate reports on discount approvals and their impact on sales.
The Discount Approval Form in ALZERP Cloud ERP provides a robust framework for managing discounts, ensuring that all discount decisions are made with due diligence, recorded accurately, and are easily accessible for future reference. By implementing a robust discount approval process, ALZERP helps businesses maintain financial discipline and prevent unauthorized discounts.