Finalize prices: This step is important regardless of whether your consortium uses exchange rates. It determines at what point in the workflow an invoice should be prepared for the member library. There are three options for what should trigger library invoicing, from the earliest possible step in the workflow to the latest:
Member order: When the member officially accepts the price of a subscription. This means you can invoice the library as quickly as possible once they've confirmed.
Vendor order: When the consortium places the order with the vendor. This means you can invoice the library while waiting for the vendor invoice.
Vendor invoice: When the invoice from the vendor is entered in the system. This step might be best if you need to calculate exchange rates before biling library members.
This step can also be done manually or automatically, and all of these options can be determined in the system settings.
Library invoices: As we just mentioned, the library invoice task is triggered by the setting of "finalize prices," so this task might light up sooner or later in the workflow depending on your preferences. Here's an example of some test libraries that are ready to be billed.
This part looks similar to the vendor order process, although this time the system is focused on individual members (as opposed to agreements or publishers).
If you want to see a list of all invoices ready to be billed and complete this task en masse, simply back out the member name filter here.
There are options to set payment terms (if they are different than the consortium default in system settings) and notes can be included as needed. Consortium can either send out invoices in the form of a PDF or an Excel export, and either set up can be previewed in advance. This e-mail template is in the settings, and of course, you can opt to not e-mail member libraries. The invoice will still appear under their member profile.
Library credit notes: In the event that the library needs to receive a credit note (which can come from either the consortium or a publisher), a credit note would be generated by entering price calculations and adjusting the price. They will only receive a credit note if the resource has already been billed to the library.
This test library has been billed for this resource, but the publisher gave us the wrong subscription price. It should be $500 less.
In this case, it would be applied to the subscription cost and not as an adjustment because the true price of the renewal is $2,000 instead of $2,500. However, if there were access issues and the library is receiving $500 back as a one-time offer to make up for the lack of access, the credit should be issued as a publisher adjustment. More about this can be found in our section on price adjustment rules.
Now that the pricing has been updated, the progress bar task for library credit notes lights up:
This task can now be processed just like an invoice.
That's the end of the workflow, which will repeat itself for every agreement. Again, your consortium may have more steps than these, so please let us know if you have any questions about tasks not explained here.