The purpose of closing an opportunity is to remove it from the opportunity list that you use to follow up with the customer, while reporting to the manufacturer your “deal chasing” results. Additionally you can generate and track any Purchase Orders you may want to reconcile against commissions later or even use to forecast future revenue.

These are three buttons that allow you to do any combination of the following:

  • Close an opportunity (removing it from the follow up list, though logging whether you won or lost it), while keeping it reported to the manufacturer on a monthly opportunity export or living report.
  • Leave the opportunity open (so you have a follow up date prompt), while excluding it from a manufacturer’s report.
  • Close the opportunity (removing any future follow up), and generate a Purchase Order or several Purchase Orders. One and done pieces of business are best for this.
  • Leave the opportunity open (so you have a follow up date to toggle the customer for the follow up order), and generate multiple Purchase Orders along the way. This method is helpful for repeat blanket order business.

Reporting Included / Excluded Button

When an opportunity is closed it is still going to export from Reporting or Living Reports when using the default “Included” setting. This situation is purposeful so that your manufacturer knows whether you won or lost the deal. If you want to exclude it from being on the principal/manufacturer report you pull, simply open it from the closed list and mark it “Excluded.” Now it will both be removed from the opportunity current working list view and it will not show on any monthly reports you pull from opportunity details under the Reporting module. 

Click on the “Included” button and it toggles to “Excluded.” 

Open / Closed Button

To close an opportunity, look in the upper left hand corner for the button that says “Open.” Once you click the Open button it will ask for a reason – won or lost. 

Note: If you mark it “Won”, a copy of the opportunity will push over to Commissionable Transactions in the financial section as an “Opportunity” so you can confirm the commissions are eventually received from the manufacturer for this “won deal”. If you don’t need/want/care to reconcile opportunities to commissions, just ignore the lower portion of the “Won” dialog under “Commissionable Transactions”. Reconciling Opportunities is a simpler and faster method than reconciling firm Purchase Orders (discussed next).

PO : Generate New Button

If you are not a “reconciler”, skip this section.

Congrats, you got a PO!

If you need to track Purchase Orders from your customers in order to match them to incoming commissions or to provide customer service details back to your customers based on your line’s confirmations, you want to use the PO: Generate New button. This button operates independently from the opportunities Close button so that you can leave an opportunity Open while storing several PO’s “under it” for ongoing blanket order business. Alternatively, you can close the opportunity after generating the Purchase Order(s) for reconciliation against commissions once received months later.

The function of this button is to copy Opportunity detailed information, the customers involved, selected line items and so on into a Purchase Order via the Purchase Order menu path.

Opportunity – Generate PO

Linked Purchase Order

You can use the “Linked Documents” button to quickly jump from the Opportunity to the Purchase Order child record and vice versa.

This completes the first two steps of the Reconciliation procedure.

Opportunity –> Purchase Order –> Invoice –> Invoice with Paid Commission

For more the rest of the steps of Purchase Order reconciliation, see the Tutorials button within a Purchase Order list or detail screen.

Locating Closed Opportunities

Whether you mark it lost or won, it is removed from the OppLoop > Opportunities list view. It does not get deleted. You can still find it under OppLoop > Opportunities > use the drop-down menu on the left to find “Closed.” Then you can select which list you want to look at, won or lost. 

Quick Summary

In summary, here’s a short list to visualize what toggles what:

  • Included = It will show on the export reports from “Reporting” & Living Reports
  • Excluded = will not show on the reports
  • Open = Will show on the OppLoop > Opportunities List
  • Closed = Will not show on the OppLoop > Opportunities List
  • PO: Generate New = Based on the Opportunity detail, generates a Purchase Order for tracking and reconciling

If you need help with any of this, you may reach out to Support@repfabric.com or RSVP for a help class offered daily at 4 p.m. EST from this link:  https://go.oncehub.com/Repfabric411OpenMic