How the invoice module works

The supplier invoice module provides all-in-one purchasing and invoice handling in the same system. 

The key advantages are:

• A proper three-way matching of invoices that ensures that all invoices can easily be controlled against 1) what was ordered and 2) what was received before transfer to the accounting system
• Purchase requisition approval and invoice approval in the same system
• Many to many matching with between invoices and purchase orders
• High prediction, machine learning OCR for increased automation

The invoice module also allows you to receive non-purchase order-related invoices so that you can manage all invoices in one system.

For integrated accounts, CostTracker read master data from the accounting system (Suppliers, Nominal codes, tax codes, cost dimensions) that is used in the process. For non-integrated accounts, this data needs to be populated as part of the setup.

Adding new invoices

Go to Accounting --> Invoices

You can add invoices by 1) uploading them into the system ("Add invoice") or by 2) sending invoices to a predefined e-mail address. 

Workflow

Invoices follow a predefined workflow as explained below

Draft - Invoices received by email or uploaded receives status as draft until they are validated against the requirements in the accounting system.

Validated - When the invoice is validated against the requirements in the accounting system (all required fields are entered correctly). 

Sent for approval - The Accounting role can choose to send the invoice for approval to one or multiple people. They will all receive the invoice at the same time (not step-by-step). Alternatively, the Accounting role can approve the invoice directly.

Approved - Once approved by all approvers or by the Accounting role, the invoice receives status approved and can then be transferred to the accounting system. 

Rejected - If the invoice is rejected by an approver, the invoice will receive status Rejected and must be handled by the Accounting role

On hold - This is a separate status that allows the Accounting role to hold invoices that should not be transferred to the accounting system (e.g. waiting for a credit note)

Transferred - Approved invoices can be transferred one by one or in batches to the accounting system. For direct integrations (i.e. not file-based), the system populates relevant fields and also transfers the document to the accounting system. Once transferred, the invoice receives status Transferred.

Matching invoices with purchase orders

When an invoice is validated, it can be matched with a purchase order. Each transaction line can be matched with a purchase order, which means that you can match one invoice with multiple purchase orders if the invoice is split in more than one transaction line. See the example of a matched line below.

Note! If you have invoices where no purchase order has been created, but you want to include as part of the budget, you can also add the invoice directly to the budget by selecting "Attach to budget"

Sending invoices for approval

To send an invoice for approval, select "Send for approval", you will see the following screen showing possible approver. Select one or multiple approvers and select "Send"

The invoice will be sent to all at once and marked as approved when all users have approved the invoice.

Transfer invoices to the accounting system

Once approved, you can select "Transfer to ERP". The status will upon successful transfer, change to "Transferred"

You can also send a batch of approved invoices to the accounting system by selecting multiple invoices in the invoice overview and click "Send to ERP"