The iMIS Orders feature offers many benefits when processing orders.
Cash prepayments
Cash and check prepayments are recorded immediately at order entry. These prepayments offset a prepaid order's unearned or deferred income account. Credit card prepayments, however, may or may not be recognized as prepaid cash.
If you do not enable the Recognize Credit Card Order Payments as Prepaid Cash option on the AR/Cash Set up module window (from AR/Cash, select Set up module), credit card payments are not recorded until an order is invoiced.
When you ship and generate an invoice for a prepaid order, the prepaid order entry is reversed, and the income is recognized.
Product-level entities
When Multiple Entities is enabled on the AR/Cash Set up module window, you can define an owner entity for an individual product. These product-level entities then are assigned to orders, order transactions, and product-specific transactions processed through the Orders module.
Entities are individual organizations, and iMIS can separate and process transactions for multiple entities (and multiple sets of books) even if the entities share a common customer database. Organizations having multiple accounting entities, such as different subsidiaries or foundations, then can allocate revenue to specific entities.
Upsell, cross-sell, and replacement items
When customers order products, additional items often are available that can replace, that complement, or that are superior to the products ordered initially. However, customers sometimes miss these purchasing opportunities because they are unaware that additional items are available.
With Orders, you can designate upsell, cross-sell, and replacement items for products that are readily accessible and available during order entry.
Special pricing
Special pricing allows you to set up product quantity discounts. These discounts are based on customer type and establish price breaks for a predefined number of products. For example, a single product may sell for $25, but you may drop the price to $20 if the customer purchases 10 or more items. This is similar to calculating sliding-scale rates in iMIS Billing.
You can set up special pricing for each of your products. The special pricing rules and formulas you define for your products determine a product's special price and override the product's default price. Define product special pricing on the Special Pricing window (from Orders, select Manage inventory > Manage products, select a current product, and click Pricing).
Automatic handling calculation
When the Automatic Calculation of Handling Charge option is enabled on the Add-on Charges window (from Orders, select Set up module, and click Add-on Charges), iMIS automatically computes handling charges when you enter an order.
Handling charges are calculated automatically for each order based on a number of variables, such as the percentage of the total amount shipped, the percentage of freight, and the minimum order. The option also allows you to exclude specific order types from the automatic handling calculation. You can override the automatic handling calculation at order entry.
Automatic freight calculation
When the Automatic Calculation of Freight Charge option is enabled on the Add-on Charges window (from Orders, select Set up module, and click Add-on Charges), iMIS automatically computes freight charges when you enter an order.
Freight charges compute each time an order is totaled based upon the calculation method enabled on the Add-on Charges window:
■ Freight by Weight
■ Freight by Total Value Ordered
■ Freight by Total Quantity Ordered
You can override automatic freight calculation at order entry.
Note: Automatic calculation of Freight charges applies to all web views of iMIS.
Inventory valuation
Two methods exist for valuing your inventory: Average and Standard.
The Average inventory valuation method calculates the cost of goods sold as averaged over time. A product's average unit cost and average total inventory cost are recalculated each time you post inventory receipts, adjustments, and transfers. The average cost of an invoiced product is used when recalculating average unit and average total inventory costs.
The Standard inventory valuation method is calculated based on a fixed amount. This method gives you the ability to factor in a fixed amount for adding overhead costs to your calculation.