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TL;DR (Summary) at the bottom.
We recently completed a case and set aside funds for technology/tools upgrade. Currently we deciding whether to use another system which have these feature or try to work with the Sale Pack and have it all integrated as one CRM.
We have try many Account Software and Invoice software but none really have what it is that we want.
This post is to discuss about if it possible to set up this kind of system using the Sales Pack (whether it is straight from installation or with minor editing and creating). If it require coding, advance file edit, etc then that may delay the decision.
Let me first try to explain what Invoice system do from my experience, basically customer order a product or services, before (or after) providing these we invoice the customer with the Invoice (Bills). The customer then paid for that invoice and their account is now Balance (not owning you money anymore). Some account software have Expense, which is what you pay to other people to acquire their Product or Services. But it is usually always two separate entity that never is linked.
In our services we received Money (Credit) and at the same time use the Money (Credit) as a Expense (Debit) it in one transaction. So we need a system that can provide details of both Credit and Debit. We have consider using one of those "Finance" tracker, or "Bank Account track" but those software is limited to only these type of fields: "Description, Date & Amount", we couldn't add in anymore Column (or Fields), there is also no Relationship linking.
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To give an Example of the transaction we need:
Finance Company will provide $1000 to the customer (Credit)
Customer (Purchaser) will contribute $800 additional funds (Credit).
We now have a total of $1800 in Credit.
From these two funds. We will allocate the funds as follow:
$1200 to the Vendor (Seller)
$500 for our fee.
$80 to 3rd party fee.
$20 refund back to the Customer as it is surplus.
Remaining balance $0 (don't always have to be $0).
$500 will show up on our Account as Credit after this transaction is finalize. After this we can use the Credit for other Expense.
$20 can show up on our Customer as Credit they decide to allow us keep their Surplus in our Bank's Trust Account.
$80 to 3rd Party should show up in these 3rd Party, we are able to create Tax Invoice or Payment Receipt (along with our $500 Fee) to our customer for their Tax Reporting.
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Each of these "Individual" should be link-able in a relationship, which can already be done with EspoCRM, the issue is you cannot link twice, I cannot link the Customer two time. I suppose I can just use a formula to get a final balance number.
Secondly is calculation in the same area. Yes $1200 was paid to the Vendor (Seller) but we need to break down why it is $1200 and not $1100, so we need to do a calculation & formula. Would the Invoice pack be modifiable to add in those type of fields or will it break the Sale Pack making it unusable. This paragraph is not as important as the above but it is something to considered.
Currently we are using Excel to do these as we can Format the layout easily, Calculate each and every relevant field but it lack the "Autocomplete" and Relationship linking feature that we would prefer to have.
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TL;DR (Summary): Need to be able to show a "Statement" of Credit and Debit for multiple individual and parties, these parties are linked through relationship and can be transaction can be tracked.
Will post some example picture in the future.
We recently completed a case and set aside funds for technology/tools upgrade. Currently we deciding whether to use another system which have these feature or try to work with the Sale Pack and have it all integrated as one CRM.
We have try many Account Software and Invoice software but none really have what it is that we want.
This post is to discuss about if it possible to set up this kind of system using the Sales Pack (whether it is straight from installation or with minor editing and creating). If it require coding, advance file edit, etc then that may delay the decision.
Let me first try to explain what Invoice system do from my experience, basically customer order a product or services, before (or after) providing these we invoice the customer with the Invoice (Bills). The customer then paid for that invoice and their account is now Balance (not owning you money anymore). Some account software have Expense, which is what you pay to other people to acquire their Product or Services. But it is usually always two separate entity that never is linked.
In our services we received Money (Credit) and at the same time use the Money (Credit) as a Expense (Debit) it in one transaction. So we need a system that can provide details of both Credit and Debit. We have consider using one of those "Finance" tracker, or "Bank Account track" but those software is limited to only these type of fields: "Description, Date & Amount", we couldn't add in anymore Column (or Fields), there is also no Relationship linking.
---
To give an Example of the transaction we need:
Finance Company will provide $1000 to the customer (Credit)
Customer (Purchaser) will contribute $800 additional funds (Credit).
We now have a total of $1800 in Credit.
From these two funds. We will allocate the funds as follow:
$1200 to the Vendor (Seller)
$500 for our fee.
$80 to 3rd party fee.
$20 refund back to the Customer as it is surplus.
Remaining balance $0 (don't always have to be $0).
$500 will show up on our Account as Credit after this transaction is finalize. After this we can use the Credit for other Expense.
$20 can show up on our Customer as Credit they decide to allow us keep their Surplus in our Bank's Trust Account.
$80 to 3rd Party should show up in these 3rd Party, we are able to create Tax Invoice or Payment Receipt (along with our $500 Fee) to our customer for their Tax Reporting.
---
Each of these "Individual" should be link-able in a relationship, which can already be done with EspoCRM, the issue is you cannot link twice, I cannot link the Customer two time. I suppose I can just use a formula to get a final balance number.
Secondly is calculation in the same area. Yes $1200 was paid to the Vendor (Seller) but we need to break down why it is $1200 and not $1100, so we need to do a calculation & formula. Would the Invoice pack be modifiable to add in those type of fields or will it break the Sale Pack making it unusable. This paragraph is not as important as the above but it is something to considered.
Currently we are using Excel to do these as we can Format the layout easily, Calculate each and every relevant field but it lack the "Autocomplete" and Relationship linking feature that we would prefer to have.
---
TL;DR (Summary): Need to be able to show a "Statement" of Credit and Debit for multiple individual and parties, these parties are linked through relationship and can be transaction can be tracked.
Will post some example picture in the future.
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