As an organization, you will undoubtedly have to deal with the processing of incoming invoices regularly. Entering (purchase) invoices manually is a time-consuming job, which is also prone to error. If you look at it critically, this job often only involves retyping numbers. An optical character recognition software offers a simple way out. We are happy to explain how it works.
How does the automatic scanning of purchase invoices work?
In our solution, you have the option to automate the entry of invoices via automatic purchase invoice processing. It means that the mailboxes in which invoices arrive are linked to your Business Central environment. The OCR software automatically downloads and scans the purchase invoice and identifies which fields of the invoice are relevant, such as supplier details, items, quantities, and the amount including and excluding VAT. You also scan paper invoices and are then processed in the same way.
To ensure that the system processes the correct fields of the invoice, you create a salesperson template. In the first instance, the system proposes relevant data. You can also indicate which data should be taken over from the invoice so that all appropriate fields you find relevant are processed. Business Central remembers your adjustments per salesperson. You do not have to do any manual work for the next invoice, and it is automatically saved from now on.
Subsequently, the approval of invoices can be done directly from the Business Central environment by any employee who is authorized to do so, even if they do not have access to the inbox in which these invoices arrive. Because the system processes and stores the purchase invoice in Business Central, you can consult the invoice from any browser. Employees can easily accept, reject, forward purchase invoices to a colleague and add comments or other relevant documents.
Extra control thanks to a three-way matching
Every invoice is verified according to a “three-way authentication ” to prevent incorrect invoices or invoices for non-delivered products from being paid. For this, the software uses three different files:
- Purchase order
- Packing slip/receipt
- Purchase invoice
The system automatically checks whether the original purchase quotation matches what was delivered and whether it matches the incoming invoice. If data does not match, you as an employee will receive a notification from the system so that you can solve the problem before the purchase invoice is paid. This way, you prevent that you do not pay too much for incorrect invoices. In addition to safety, the three-way matching offers time savings, as it is no longer necessary to perform an additional (manual) check for incoming invoices. Finally, you immediately comply with the latest regulations for financial audits.
View the short OCR software demo
In the video below, we would like to show you the convenience of automatic purchase invoice processing and how it works. View the benefits of scanning purchase invoices and how simple the solution is to use.