Pay on Scan
...ave to factor in any deals that may be outstanding. Once all this is accomplished, we take the difference and this is what we request the Category Managers (CM) to release in a check to the Vendor. To get the ball rolling to set up a new vendor on Pay on Scan, the CM must negotiate terms with the Vendor and decide if there will be single or multiple WIC’s. What happens next depends on if it is a single or multiple WIC Vendor and if it is an existing or new vendor setup. If it is a new vendor it is adequately simple step, the CM and the Vendor work out the terms and the Pay on Scan (POS) Coordinator sends the information to the Vendor Reference Department to have a vendor number issued. The Vendor is placed on a total do not pay (DNP) hold until there has been merchandise scanned that exceeds the deals. If it is an existing vendor that is set up on POS then once the CM and the vendor work out the terms and what WIC’s (if not all WIC’s) will be placed on POS. The POS Coordinator must then reconcile the account to rectify the amount of merchandise that was scanned for that particular month and compare it to the amount of money that has been previously paid on invoices prior to the POS setup. Generally, the vendor is put on a total DNP hold until the scans exceed the amount of invoices that have been paid to that particular purchase order. Once the vendor has exceeded the amount that they have been put on hold for then funds will be reconciled for a requested released on a monthly basis. The multiple WIC’s Vendors follow the same procedures with the exception that instead of having all WIC’s setup on POS, the vendor requests to have only certain merchandise put on POS. This can truly be an accounting nightmare because instead of maintaining the whole account, you have to maintain certain merchandise while the vendor is still receiving checks cut to him for the merchandise that is invoiced. There is a fine line that h...