Course Code: INV-10
Goal: Achieve financial accuracy by reconciling received goods against invoices, handling cost variations, and managing reconciliation workflows.

Session Overview

Duration: 1 Hour
Format: Instructor-led (via Microsoft Teams or in-person)
Level: Intermediate to Advanced (Ideal for accounting teams, purchasing agents, inventory controllers)

Resources Provided:

• Reconciliation Workflow Guide
  
• Invoice Matching and Variance Management Cheat Sheet
• Undo Reconciliation Best Practices

Learning Objectives

By the end of this session, participants will be able to:

• Reconcile received goods with vendor invoices efficiently.
  
• Manage cost variations such as freight charges, taxes, or surcharges.
  
• Undo reconciliations safely when adjustments are necessary.

Session Agenda

INV10.1 Reconciling Received Goods with Invoices

• Linking POs and received quantities to invoices.
  
• Confirming:
  
• Unit prices
  
• Total quantities
  
• Additional fees
  
• Finalizing reconciliation to close financial liability.

INV10.2 Managing Cost Variations (Freight, Taxes, etc.)

• Recording additional costs (freight, handling, fuel surcharges) accurately.
  
• Allocating cost increases across items when needed.
• Handling tax-exempt items or special taxation rules.

INV10.3 Undoing Reconciliations if Needed

• Scenarios requiring reconciliation reversal:\n
  
• Vendor credits
  
• Return merchandise authorizations (RMAs)
  
• Pricing disputes
• Step-by-step process for safely undoing reconciliations without corrupting inventory history.

Hands-On Preview (Optional if time allows)

• Reconcile a sample PO and invoice.
  
• Adjust an invoice with a freight surcharge.
  
• Undo a reconciliation and correct cost entries.

Post-Session Action Items

• Review open POs and incomplete reconciliations.
  
• Standardize processes for freight and tax recording.
  
• Implement a reconciliation validation checklist for finance teams.

Note: When scheduling, make sure to include this session code: INV-10

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