Article

Concise Reference on the Expense Lifecycle of Plan & Spend

By Mark Weissman posted 20 Jun, 2022 12:59

  

Aprimo Plan & Spend has the capability to capture your entire expense flow (reflected succinctly in the diagram below), but what does the lifecycle of each of the types of expenses look like? This article will explore Commitments (sometimes also known as Purchase Orders), Invoices and Journal Vouchers in more detail. Consider this a helpful reference for both new Aprimo customers as well as long-time users.

One wrinkle you’ll find here is that the status transitions differ between customers using the GL Integration (also called the External Accounting Integration) and those who are not. The purpose of the External Accounting Integration is to allow for more granular allocation of budgets to Cost Centers and GLs, as well as provide additional capabilities to override Forecasts and Expense rules and handle situations where Invoices and Journal Vouchers are reviewed and possibly rejected by Accounts Payable.


Commitments – Status Transitions

Commitments, sometimes labeled as Purchase Orders, represent money that is being allocated from budgets and committed to be spent with a supplier/vendor. Depending on your method of intake or usage of Commitments, some of the status transitions below could very well be automated via the ERP Connector or other integration flow.

The “<Type>” token represents various statuses that are labeled with the type of review and approval being used. For example, “Pending Authorization Tree Approval” or “Pending Pooled Re-approval”.



Invoices – Status Transitions

Invoices represent a bill that is being sent to you by a supplier/vendor seeking payment for marketing expenses. Often your Accounts Payable department will handle the actual payment, but the details of the invoice, such as the date, terms and payment status are reflected in Aprimo as well as matched or reconciled against a Commitment/Purchase Order. Depending on your method of intake or usage of Invoices, some of the status transitions below could very well be automated via the ERP Connector or other integration flow. Lines in blue are exclusive to usage of the GL Integration. Otherwise, they do not apply.

The “<Type>” token represents various statuses that are labeled with the type of review and approval being used. For example, “Pending Authorization Tree Approval”.




Journal Vouchers – Status Transitions

Journal Vouchers represent various expenses or adjustments to budgets that occur in the lifecycle of marketing spend. Examples would be journal entries, accrual adjustments and reversals, or p-card (non-PO) transactions. Depending on your method of intake or usage of Journal Vouchers, some of the status transitions below could very well be automated via the ERP Connector or other integration flow. Lines in blue are exclusive to usage of the GL Integration. Otherwise, they do not apply.



Are you a developer and want to dive into even more detail on these expense statuses as well as access a helpful guide on how to use Aprimo Plan & Spend’s Financial APIs? You’ll find it here: https://developers.aprimo.com/marketing-operations/rest-api/routes/working-with-financial-apis/



#PlanandSpend
0 comments
358 views