AP Automation is a hot topic for good reason. Transforming your vendors’ invoices to a standard, electronic format for processing eliminates errors and saves time and money.
It all starts with how invoices are received from your vendors. ReQlogic provides several options that allow vendors to enter invoices directly into the system. Each option creates an invoice document within ReQlogic. Direct input alleviates the bottleneck of manual entry and ensures accuracy from the originating source.
Other options enable entry from within your organization. These options can be particularly useful for invoices sent as PDFs or hardcopies.
The Invoice Preview and Entry module enables entry of simple, one-line invoice documents. Invoices in PDF format can be uploaded for previewing, and the previewed file is attached to the created invoice document. OCR can also be used to scan hardcopy invoices. The same business rules described above can apply when extracting data directly from the hardcopy.
The above input options create invoice documents in ReQlogic. Information from the invoice – including vendor name, terms, items, and totals – are saved and presented in a uniform format. Easy to read. Easy to understand.
An AP department member, who is automatically assigned and is the responsible person, can perform an initial review, check coding for financials, and submit the document for approval through ReQlogic’s workflow. The OCR option allows documents to be automatically submitted upon creation.
During this time, approvers can review the original invoice attached and see notes and comments from others involved in the process.
Fully approved invoice documents create corresponding AP voucher transactions in the Microsoft Dynamics ERP. ReQlogic products integrate with Microsoft Dynamics 365 Business Central (Cloud and On Premise), GP, SL, and NAV.
It’s at this point voucher and payment processing related to the invoice is completed in the Microsoft Dynamics ERP, and we’re at the end. The efficiencies gained from ReQlogic enable you to pay promptly and take advantage of early payment terms.
To find out more about ReQlogic’s robust all-inclusive feature set and flexible deployment options, you can contact us now.