Order Financial Management

The financial management tools within Propamp.ai’s Orders section provide comprehensive features for tracking, analyzing, and optimizing all financial aspects of your purchase orders. This guide explains how to effectively use these tools to manage quotation rates, additional costs, and payments.

Accessing Order Financial Management

Financial management tools are accessible through:

From the Main Orders Page:

• Navigate to Orders Management in the main menu
• For specific order, locate icon with three dots and click on it
• Hover over “Financial” from the dropdown menu
• Select “Quotation Rates”, “Additional Costs”, or “Payments” to access the respective sections

Quotation Rates Management

The Quotation Rates section allows you to compare shipping rates from different providers and select the most advantageous options for your shipments.

Viewing Quotation Rates

When viewing an order’s financial details:

1. Navigate to the “Quotation Rates” section
2. You’ll see a comparative table of available shipping quotes with the following information:
   • Provider name
   • Service level (Standard, Express, etc.)
   • Total cost
   • Cost breakdown (base rate, fuel surcharge, etc.)
3. Please note that the rates are needed to be inserted manually by you or your team, and are not automatically fetched from the freight forwarder.

Note: The rates come in handy when we have multiple quotes for the same shipment, and we need to compare them. Specifically when we need to find the best COG

Adding New Quotations

To add a new freight quote:

1. Click the “Add new quotation” button in the Quotation Rates section
2. Complete the form with the following information:
   • Provider (select from your Freight Forwarders dictionary)
   • Service level
   • Rate details
3. Click “Save” to add the quotation to your comparison table

Additional Costs Management

The Additional Costs section helps you track and manage all expenses beyond the base product cost, giving you an accurate picture of your true landed costs.

Viewing Additional Costs

To access the additional costs section:

1. Navigate to the “Additional Costs” tab within an order’s financial section
2. You’ll see a table of all additional costs associated with the order, including:
   • Cost type (Customs, Insurance, Handling, etc.)
   • Amount
   • Applies to all or a specific product
   • Distribution method (Evenly, By weight, By Product Price,Product Count, By CBM )

Note: We encourage you to use the “By CBM” distribution method, as it is the most accurate way to allocate the costs.

Adding Additional Costs

To add a new cost:

1. Fill in the empty inputs with values related to your order
2. Complete the form with:

• Cost type (Customs, Insurance, Handling, etc.)
• Amount
• Applies to all or a specific product
• Distribution method (Evenly, By weight, By Product Price,Product Count, By CBM )

Note: Additionally you can click on ‘Attach Quotation’ to automatically fill in the cost based on your pre filled quotation rates.

Cost Types Supported

Your are able to add any cost type you need, and we will automatically add it to your landed cost calculations. Feel free to add any additional costs to be allocated to a specific product or the entire order.

Cost Allocation

Additional costs can be allocated across products in several ways:

1. Evenly: The cost is divided equally across all products
2. By Weight: The cost is distributed proportionally based on product weight
3. By Product Price: The cost is allocated proportionally based on product value
4. Product Count: The cost is divided equally across all units
5. By CBM: The cost is allocated based on the cubic meter volume of products

To change cost allocation, simply click on the desired distribution method and the system will automatically update the cost allocation.

True Landed Cost Calculation

One of the most valuable features of the financial management tools is the automatic calculation of true landed costs, which combines product costs, shipping expenses, and all additional fees.

This comes critically important when you are looking to calculate your true COG and profits.

Viewing Landed Costs

To see the true landed cost of your products:Simply scroll down and observe the table with all of your costs being broken down in real time.

Payments Management

The Payments section allows you to track all financial transactions related to your purchase orders, ensuring you maintain accurate records of what has been paid and what is still due.

To access payment details:

1. Navigate to the “Payments” tab within an order’s financial section
2. You’ll see a comprehensive view of:
   • Payment schedule (planned payments)
   • Payment history (completed payments)
   • Current payment status
   • Outstanding balance
   • Payment due dates

All of the future Dates are planned payments, you will be notified when the payment is due.

Best Practices for Order Financial Management

To maximize the effectiveness of the financial tools:

1. Record All Costs: Capture every expense, no matter how small, to ensure accurate landed cost calculations.

2. Update Promptly: Record payments and additional costs as soon as they occur to maintain real-time financial visibility.

3. Compare Quotes Thoroughly: Look beyond the base rate when selecting shipping quotes; consider all fees, transit time, and reliability.

4. Use Consistent Allocation Methods: Maintain consistency in how you allocate costs across products and orders.

5. Reconcile Regularly: Periodically verify that all recorded payments match your actual bank transactions.

6. Document Everything: Use the notes fields and document attachment features to maintain comprehensive records.

7. Review Landed Costs: Regularly analyze landed costs to identify trends and opportunities for cost reduction.

Troubleshooting Common Issues

Missing Additional Costs

If your landed costs seem unusually low:

• Review all shipping documentation for mentioned fees
• Check customs declarations for duty amounts
• Verify if inspection or handling fees were applied

Quotation Selection Issues

If you’re unable to select a specific quotation:

• Verify that the freight forwarder is still active in your dictionary