Now, let’s review the individual monthly frame spending tabs. The purpose of these remaining tabs is to document your individual invoices as frame orders come in from your different vendors, in order to keep a constant watch on total monthly spending, which will also allow you for proper usage in conjunction with an appropriate vendor agreement and frame purchasing success plan which we will get in to in later courses.
In each of the tables, you will see a column titled manufacturer and invoice amount. We recommend keeping your invoice totals separated by vendor or manufacturer. Input the vendor or manufacturer name in the first column of the next available table in the green cell listed here.
Next, enter the individual invoice total in the cell adjacent to the charges section, under the available column for each invoice that you get in as you receive the order. You will notice that as you enter this information, in the invoice amount column, that it totals for you at the bottom of each table. Below it, we can also put in any credits for any frame returns or RA’s that we’ve submitted through our frame reps.
Once you do this for all applicable vendors that you’ve spent money with, you'll notice that the total spent over here in column M and N, have been totally calculated for you. And if we jump back to our optical budget tab, you’ll notice that in January, which was the tab we were entering in, now in row 13 we actually have data which is the same as the total spent that we calculated on our January frame spending tab. This will also show us once we enter in the information, how much variance or how much we have leftover, out of our proposed spending budget, so that as we get closer to the end of the month, we can tell if we have any money left to spend on frames for that month or if we need to cancel with any remaining frame reps and see them next time around when maybe we have more money to spend out of our frame budget. As a secondary practice, you may also want to put the word pending in the first column with the estimated amount that your frame rep gives you when you actually make the order. You just want to make sure that if you do this in order to calculate for current spending, that you go back and put the final amount once you receive the actual invoice. This will help you to make sure you never overspend your allocated frame budget for that individual month.