Help CenterClients have different needs and CostTracker is designed with two main configuration options as displayed and explained below.
Configuration 1: Purchasing with easy invoice matching
The free trial account is set up with this option. In this configuration, you have all the purchasing functionality and when you receive the supplier invoice you simply add the invoice value to the open purchase order.
Configuration 2: Combined purchasing and supplier invoice module
With this configuration, the purchasing process is the same as for configuration 1, but you receive supplier invoices directly in CostTracker via a predefined email or by uploading. Invoices are interpreted using a high prediction, machine learning OCR, and matched with the applicable purchase order. Invoices can be approved in the same way as purchase requisitions.
Integration with ERP / Accounting system
Both configurations can be integrated with accounting systems, but the exact way of integrating varies from system to system. Please see the integration section for exact information about the integration with your accounting system.
Integration with easy invoice matching (configuration 1)
CostTracker reads master data from the accounting system (suppliers, nominal codes, tax codes, and cost dimensions (such as for example projects) that can be used during the purchasing process. The supplier invoice is received in the accounting system and CostTracker reads accounting transactions and matches with purchase order based on pre-defined rules.
This means that you can use CostTracker and still receive invoices directly to your accounting system. Can be ideal for companies who only want to use CostTracker for parts of their business (e.g. projects or marketing budget).
Integration with supplier invoice module (configuration 2 )
CostTracker reads master data from the accounting system (suppliers, nominal codes, tax codes, and cost dimensions (such as for example projects) that can be used during the purchasing process. The supplier invoice is received in CostTracker, interpreted, matched, and approved, then transferred to the accounting system one by one or in batches.
With this configuration, you get an all-in-one system where which gives you full control over all supplier invoices before transfer the accounting system.