Media Cost Reconciliation Report

View media work-in-progress balance by media schedule

What is it?

The Media Cost Reconciliation Report  (also known as the Media WIP report) shows the variance between the amount billed to the client and the amount invoiced by the media supplier to date.  

A Media Media Schedule can have a WIP balance if: 

1. Media costs have been pre-billed (billed based on schedule) and supplier invoices have not been cleared for payment.
2. Supplier invoices have been cleared for payment but media costs have not been billed to the client.

Why does it matter?

This report is allows your Media finance team to track and analyze discrepancies between the amount billed to clients and the amount invoiced by media suppliers. The insight from this report is required to reconcile costs on a monthly basis. 

How does it work?

1. Navigate to Media > Media Reports
2. Click on the Media Cost Reconciliation dropdown, then select the Media Cost Reconciliation hyperlink.
3. Select Accounting Period
   1. Set the desired Accounting Year and Accounting Month from the dropdown menus to view the transactions for a specific period.
4. Choose Report Type
   1. Select the type of report you wish to generate. Toggle between SCHEDULE TRANSACTIONS and SCHEDULE TOTALS to view detailed transactions or summary totals, respectively.
   2. Select CLIENT TOTALS to view the reconciliation totals by client.
5. Specify Schedule and Client Parameters
   1. Input a specific SCHEDULE NO. if you want to view transactions for a particular schedule.
   2. Tick EXCLUDE SCHEDULES WITH ZERO BALANCE? to filter out any schedules that have been fully reconciled.
6. Filter Offices and Clients
   1. Choose offices from the list by ticking the checkboxes next to the OFFICE CODE to include them in the report.
   2. Decide whether to include inactive offices in your report by checking the INCLUDE INACTIVE OFFICES checkbox.
7. Generate the Report
   1. Click EXCEL, EXPORT, or PREVIEW to generate the report in the desired format.