Automate Accounts Payable invoice processing

Automate Accounts Payable invoice processing
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IS-ConvertTM helps the receiver of digital invoices (customers) to convert the validated digital invoices that come from the digital archive before they are exported.

InvoiceSharing-Convert is a conversion tool where you setup rules to link “a variabel” from the invoice to “a variabel” of your accounting system.

For example: If “supplier” is “Office Depot”, then “general ledger account” is “456000 Office costs”

Or: If “location name” is “Canary Wharf”, then “cost center” is “1234”

Or: If “telephone number” is “0612345678”, then “cost center” “1234”

Or: If “supplier” is “Office Depot”, then “aggregate costs per general ledger/cost center”

Some other examples of converting include:

  • Mapping UNSPSC/E-Class or other product category number to general ledger accounts, so cost accounts are automatically assigned to the invoice lines.
  • Mapping customer numbers on invoices to your cost centers, so cost centers  are automatically assigned to the invoice lines
  • The possibility to aggregate invoice lines to an invoice entry per cost account / cost center. Take for example an invoice of office suppliers containing 50 invoice lines, normally you would possibly enter this as one line / journal entry in your accounting  system. When receiving a digital invoice you do not want 50 invoice lines meaning 50 journal entries. In InvoiceSharing you indicate that for this supplier the 50 invoice lines should be aggregated per cost account and cost center.

You manage the “conversion lines” yourself in the InvoiceSharing online appliation.

Conversion lines is not about the invoicing process, but about optimizing processes. As a result, this is a premium product.

We have some good examples where this saves more than 50% of the costs to process Accounts Payable invoices.

Costs are €60 per 100 “conversion lines” per month. You buy them in the InvoiceSharing application.

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