This web page is no longer updated. Contents will be moved to this URL.
(The following options pertain to both Clearings, but only Partners who have requested to participate in the EUR clearing will receive two invoices.)
1. Inter-company Transactions - Partners are able to review, approve, enter and search inter-company transactions.
Pending - List of all transactions entered to Partners (Accs Receivable) and from Partners (Accs Payable).
· To view the full transaction, click on the Document Ref No.
· You may also send an email directly to a partner via the Finance Module by clicking on the Partner’s IOC and including your own text/questions in the automated message.
· Entering a new transaction click on the “New Transaction” button
- Select a transaction type for the Inter-company charge
1. Tier and Non-tier Programs to enter discounts on a transfer price that your Hosting Partner has extended. Also use this category for special arrangements with a Hosting Partner or volume discounts on the transfer price of non-tier-based programs.
2. Other for all other inter-company charges, that is, transactions/charges not related to programs.
- A credit may be given to a partner by entering a charge from Partner’s IOC to your IOC or a charge from your IOC to Partner’s IOC
- Enter the information requested in the various fields. Please provide a precise description of the charge so that it is easily identified by the partner. Examples of data that might be useful to identify an item include names, e-mail message dates, meeting dates, exchange rates and original amount if need to convert to USD.
- Partners have the ability to attach back-up documentation for inter-company charges entered into system.
-Save the transaction if you are satisfied with the data entry. An email is then automatically sent to the both partners informing of a new transaction has been entered. If you find that you need to add more information or edit what is already there, you can do this later by clicking on the Document Ref. No. at the left of the screen. Once the item is approved, no more editing can be done.
Approved - List of all transaction approved and will be included in the next Partner invoice.
Rejected - List of all rejected transactions. Partners are required to indicate why a transaction is rejected. You also have the option to re-charge and modify a description for a rejected transaction by clicking on the Partner’s IOC and then selecting the re-charge option at the bottom of the transaction screen.
Search - You can search for a particular transaction using the criteria that you select, which can be by partner, amount, date of approval (i.e. billing date), Document Ref. No., Document Ref. Date and Approved, Pending, or Reject.
30-Day Approval Requirement This feature will help alleviate some of the frustration felt by Partners in resolving long-pending inter-company charges. A countdown feature has been included in each detailed pending transaction screen which indicates the number of days remaining until Auto-Approval. All inter-company transactions that have not been Approved or Rejected within 30 days after being entered into the Finance Module will automatically be approved by the system.
2. INT Monthly Inputs (This is only a reference screen for Partners.)
Review the Prior Balance Due, Last Amount Paid, Last Payment Date, Late Charges, Foreign Bank charges Paid by International and Notes that are included on the Invoice Date that you select.
3. Invoices Below are some definitions/explanations of the contents of a typical invoice.
Prior Balance Due - This is the amount that has been carried forward from the previous invoice.
Last Amount Paid - If a payment was made before the invoice is finalized, the amount will appear.
Last Payment Date is the date on which the payment was received by AFS International or paid to the Partner.
Summaries of balances for the various transaction types, including Inter-company Charges, Tier-based and Non-tier based Programs, and per capita fees such as: Participant Medical Fund, Program Liability Fund and Intenational Development Fund. The detail for each of these summary balances can be found at the bottom of the invoice. Look for the Item number at the left of the Invoice to identify which items are included in the net summary balance at the top of the Invoice.
AFS International invoice inter-company items on a monthly basis to help you keep better track of your inter-company charges. As an item gets approved, it is rolled-up to the next Invoice. For example, items approved throughout August will get included in the September Invoice. When a payment is made, it is reflected on the Invoice following the month of payment. If payment is not made in full, the remaining balance is rolled forward to the next month’s invoice and appears as the Prior Balance Due. The monthly invoices are for informational purposes only.
Currently, Partners and AFS International are not required to pay other than at the 2009 Payment Schedule dates of March (most of SH programs), June, September (most of NH programs), and December. In 2010, the change of four clearing cycles to six clearing cycles will be in effect. . However, if your cash flow permits, AFS International is willing accept payments and make payments at other times.