FileBound AP Demo Overview

Transcription

1 FileBound AP Demo Overview AP Process Overview The main mission of any accounts payable department is to pay vendors, service providers, and employee expenses based on the established rules of the organization and the agreed upon payment terms. The challenge is to only make payment when the transaction is complete, all the paperwork is in order and all the rules have been satisfied. FileBound AP allows you to capture your documents at the beginning of their life cycle. The captured documents enter an automated workflow for all of the approval decision making and conflict resolution processing. During the approval process incoming invoices can be matched with receiving documents, purchase orders and the check that was issued to pay for the invoice. will be preloaded documents to use to demonstrate the solution. FileBound AP Solution Components The core of the FileBound AP solution is the FileBound Document Management Solution. FileBound provides all of the basic document management functions that are needed to store, search and view invoices and all associated documents in the accounts payable process. Six FileBound projects are created to comprise the FileBound AP solution. These projects include:» AP PO» AP Receiving Documents» AP Invoices» AP Checks» AP Vendors» AP Check Match FileBound AP also utilizes the FileBound Document Relationship plug-in. This plug-in is the core component that is needed to allow associated documents to be related to each other. This relationship allows for easy viewing of all associated documents and processing of the three-way match of the packing slip, purchase order, and invoice. AP PO Project The AP PO FileBound project contains all of the Purchase Orders (PO) that are issued by an organization. There are many different ways that PO s can be captured and entered into the project. The purchase order can be scanned and uploaded into FileBound using a scanning application such as FileBound Capture Lite or scanned within the FileBound viewer using a desktop scanner. The print information for a PO can also be electronically imported into FileBound and stored with an overlay eliminating the need to generate a paper copy of the PO that would then be scanned and disposed of.

2 A PO is available for viewing after it is captured and can be searched for using the following criteria:» PO Number» Vendor» PO Date» Invoice Number These index values can be entered manually at the time of capture or by an automated process depending on the method that the PO is captured. Not all of the index values need to be entered at the time of capture. AP Receiving Documents Project When a shipment is received it most often contains a packing slip or some other document identifying the item that was shipped and the quantity. This receiving document can be scanned and stored within the AP Receiving Documents project by personnel in the receiving department. When the accounting department receives an invoice for the purchase they will be able to search the AP Receiving Documents project for the packing slip or other receiving document and verify that the shipment was received before sending the invoice on for payment. When a receiving document is captured the following information will be entered and allow for searching on the same information:» Vendor» Status» Date» Invoice Number Shipments may sometimes not contain all of the items that were ordered. In this case the receiving document can be assigned a status of Hold, preventing the invoice from proceeding in the payment process until the hold is removed. The hold can be removed once the rest of the shipment is received. FileBound AP allows both of the receiving documents in this situation to be associated with the original PO and the single invoice. AP Invoices Project When an invoice is received by the accounting department it is scanned and entered into the AP Invoices project. If the invoice is received electronically it can be added to the AP Invoices project via the FileBound Integration Kit or by dragging and dropping the invoice into the FileBound viewer depending of the type of electronic document that it is. When the invoice is captured and added to the project it is indexed with the following criteria:» Invoice Number» Vendor Name» Invoice Date» Invoice Amount» Pay Amount

3 After the invoice is captured and indexed FileBound will automatically route the invoice for approval and payment. Specific rules have been created that force all incoming invoices to be processed. Not all invoices will need to be processed the same and receive the same level approval. The rules that are in place provide options to handle exceptions and quick pay options. AP Checks Project When an invoice has been approved for payment a check is generated and sent to the vendor. The AP Checks project allows a copy of the check to be captured and stored. The captured check can be a scan of the original check or it can be a copy of the electronic information that was sent to the printer and displayed using an overlay of the check. After the check is captured it is indexed using the following criteria:» Check Number» Check Amount» Check Date When a check is used to pay multiple invoices FileBound provides the ability to see each of the invoices that the single check paid. AP Vendors Project The use of the AP Vendors project is not necessary in the AP process but provides a means of checks and balances to prevent fraud and embezzlement. If the AP Vendors project is used security can be setup to allow different users to be able to enter vendors but not to have the access or ability to approve invoices for payment. As well, those that have the ability to approve payments do not have the ability to enter new vendors into the system. This prevents employees from having the ability to issue unauthorized checks to vendors that they have created in the system. When a vendor is created the vendor s name is entered and assigned a vendor ID number. AP Check Match Project When a check is issued to pay a vendor, the check may be paying more than one invoice. The AP Check Match project is a project that is used to store the information about the invoices that the issued checks are paying. For each invoice that is paid the invoice number and the associated check number that was used to pay the invoice is recorded and stored within the project. The entry of this information can be automated with the use of Importer or some other means to enter the information into the FileBound database. The AP Check Match can be a hidden project that users do not actively see when looking at their list of available projects. The AP Check Match project is not automatically installed but is generated during the setup and configuration process of the FileBound Document Relationship plug-in.

4 FileBound Related Documents Plug-In Overview The three-way match is an integral part of the Accounts Payable process to verify that all goods have been received and accounted for before payment is made. To be able to do this a person needs the ability to see the Purchase Order, Receiving Documents and Invoice to verify that everything is correct. The FileBound Related Documents plug-in provides the functionality to relate all of these different documents and make them available for viewing when viewing associated documents. When the Related Documents plug-in is utilized it will provide a Related Documents viewing pane within the FileBound Document Viewer. The pane can be minimized and then accessed by clicking on the Related Documents button at the bottom of the viewer. The Related Documents plug-in is a FileBound Server Plug-In created specifically for Accounts Payable operations. The plug-in is setup within the FileBound Main Options area. Once the plug-in is installed it will provide additional project setup and configuration features for each project, allowing conditions to find and view related documents. Configuration Advanced Mode The FileBound Related Documents plug-in has two configuration modes, Advanced and Basic. It is recommended to use the Advanced Mode. This provides the most flexibility in configuring document relationships. The plug-in provides the functionality to default to the Advanced Mode setup if this is desired. After the Related Documents plug-in has been registered and configured within the FileBound Server Main Options area by a system administrator each FileBound project that will utilize document relationships will need to be configured. This configuration can be done by a FileBound system administrator or a project administrator. The AP Invoices, AP PO, AP Receiving Documents, and AP Checks project will all need to have relationships configured. Accessing the Relationships Window With the FileBound Admin Viewer open right-click on a project and select Related Documents Setup. The Relationships window will be displayed. This window will be defaulted to start on the Advanced Screen. If you do not want to default to the Advanced Screen uncheck the option in the bottom left-hand corner of the window. Adding a New Relationship To add a new relationship, click on the Add button at the bottom of the Relationships window. This will display the New Relationship Settings window. Select the appropriate settings for the new relationship and then click OK at the bottom of the window. The new relationship will be displayed within the Relationships window.

5 Editing a Relationship To edit an existing relationship, click on the Edit button at the bottom of the Relationships window. This will display the Relationship Settings window. Edit the appropriate settings for the relationship and then click OK at the bottom of the window. The relationship will be displayed within the Relationships window. Deleting a Relationship To delete an existing relationship, click on the Delete button at the bottom of the Relationships window. The relationship will be removed from the list of relationships in the Relationships window. FileBound AP Required Relationships To make the Filebound AP solution function properly several relationships need to be established. Relationships will need to be created in the AP Invoices, AP PO, AP Receiving Documents, and AP Checks projects. When these relationships are created they will be designated as a one to many, many to one, or a many to many relationship. Based on the type of relationship different options will need to be configured. AP Invoices Relationships The AP Invoices project will have three relationships created. Follow the directions below to create the three different relationships. Relationship 1 AP Invoices to AP Receiving Documents Within the FileBound Admin Viewer right-click on AP Invoices and select Related Documents Setup, click the Add button at the bottom of the Relationships window Select AP Receiving Documents from the Related Project drop-down menu Underneath the Related Document Search Criteria section for the AP Invoices project on the left side of the window Underneath the Related Document Search Criteria section for the AP Receiving Documents project on the right side of the window Select One to Many within the Mode Selection section Within the Misc. Settings section, select the Div/Sep tab and select Packing List from the Only List Documents in Divider drop-down menu On the Other Settings tab select Show Relationship Count

6 On the Unrelated Search Filter tab select Vendor from the first drop-down menu on the left and the first one on the right Relationship 2 AP Invoices to AP PO Within the FileBound Admin Viewer right-click on AP Invoices and select Related Documents Setup, click the Add button at the bottom of the Relationships window Select AP PO from the Related Project drop-down menu Underneath the Related Document Search Criteria section for the AP Invoices project on the left side of the window Underneath the Related Document Search Criteria section for the AP PO project on the right side of the window Select One to Many within the Mode Selection section Within the Misc. Settings section, select the Div/Sep tab and select PO from the Only List Documents in Divider drop-down menu On the Other Settings tab select Show Relationship Count On the Unrelated Search Filter tab select Vendor from the first drop-down menu on the left and the first one on the right Relationship 3 AP Invoices to AP Checks Within the FileBound Admin Viewer right-click on AP Invoices and select Related Documents Setup, click the Add button at the bottom of the Relationships window Select AP Checks from the Related Project drop-down menu Underneath the Related Document Search Criteria section for the AP Invoices project on the left side of the window select Invoice Number from the first drop-down menu Underneath the Related Document Search Criteria section for the AP Checks project on the right side of the window select Check Number from the first drop-down Select Many to Many within the Mode Selection section Within the Misc. Settings section, select the Div/Sep tab and select Check from

7 the Only List Documents in Divider drop-down menu On the Other Settings tab select Disable Related Linking and Show Relationship Count On the Many to Many tab select AP Check Match from the choose your link Project drop-down menu AP PO Relationships The AP PO project will have one relationship created. Follow the directions below to create the relationship. Relationship 1 AP PO to AP Invoices Within the FileBound Admin Viewer right-click on AP PO and select Related Documents Setup, click the Add button at the bottom of the Relationships window Select AP Invoices from the Related Project drop-down menu Underneath the Related Document Search Criteria section for the AP PO project on the left side of the window Underneath the Related Document Search Criteria section for the AP Invoices project on the right side of the window Select Many to One within the Mode Selection section Within the Misc. Settings section, select the Div/Sep tab and select Invoice from the Only List Documents in Divider drop-down menu On the Other Settings tab select Disable Related Linking and Show Relationship Count On the Unrelated Search Filter tab select Vendor from the first drop-down menu on the left and the first one on the right AP Receiving Documents Relationships The AP Receiving Documents project will have one relationship created. Follow the directions below to create the relationship. Relationship 1 AP Receiving Documents to AP Invoices

8 Within the FileBound Admin Viewer right-click on AP Receiving Documents and select Related Documents Setup, click the Add button at the bottom of the Relationships window Select AP Invoices from the Related Project drop-down menu Underneath the Related Document Search Criteria section for the AP Receiving Documents project on the left side of the window Underneath the Related Document Search Criteria section for the AP Invoices project on the right side of the window Select Many to One within the Mode Selection section Within the Misc. Settings section, select the Div/Sep tab and select Invoice from the Only List Documents in Divider drop-down menu On the Other Settings tab select Disable Related Linking and Show Relationship Count On the Unrelated Search Filter tab select Vendor from the first drop-down menu on the left and the first one on the right AP Checks Relationships The AP Checks project will have one relationship created. Follow the directions below to create the relationship. Relationship 1 AP Checks to AP Invoices Within the FileBound Admin Viewer right-click on AP Checks and select Related Documents Setup, click the Add button at the bottom of the Relationships window Select AP Invoices from the Related Project drop-down menu Underneath the Related Document Search Criteria section for the AP Checks project on the left side of the window select Check Number from the first drop-down menu Underneath the Related Document Search Criteria section for the AP Invoices project on the right side of the window select Invoice Number from the first drop-down Select Many to Many within the Mode Selection section Within the Misc. Settings section, select the Div/Sep tab and select Invoice from the Only List Documents in Divider drop-down menu

9 On the Other Settings tab select Disable Related Linking and Show Relationship Count On the Many to Many tab select AP Check Match from the choose your link Project drop-down menu and select the Use Second Values option Using FileBound AP Overview There are several ways that FileBound AP can be used to improve the efficiency of an organizations AP Process. The following process is an example of how FileBound AP can be used. Step 1 Capture Purchase Order A purchase order (PO) is issued to a vendor for goods or services. A copy of this PO is captured and entered into the FileBound AP PO project. The PO is indexed using the PO Number, Vendor Name, and the date of the PO. This PO can be scanned from a paper copy or have the data for the PO electronically imported into FileBound. Step 2 Capture Receiving Documents When the goods or service is received the packing slip or other receiving document is scanned and entered into the FileBound AP Receiving Documents project. The receiving document is indexed using the Vendor Name as well as a possible Invoice Number if it is included. At the time of entry the receiving document can be assigned a Hold status if the order is incomplete, damaged or has some other issue. The date that the receiving document is capture will also be recorded and stored. Step 3 Capture and Route Invoice When an invoice is received by the account department it is entered into FileBound. If it is paper invoice it can be scanned and saved into FileBound. If the invoice is electronic, such as a PDF file, it can be imported into FileBound. When the invoice is captured it is indexed using the Invoice Number, Vendor Name, Invoice Date, Invoice Amount and possibly the Pay Amount. After the information is entered and the capture or import process is complete the document is routed down the Process Invoice workflow route automatically.

10 Step 4 Perform Three-Way Match When the invoice is routed the invoice will be listed on the assigned user s homepage. This user will be required verify that the invoice has a corresponding receiving document and PO. If all the appropriate paperwork is in order the user will have the buttons giving them the option to send the invoice on for approval, send it on to the standard payment process, or send it to a quick payment process. If there is a problem the user can select the Exceptions button and send it on to the controller or CFO to be addressed. Step 5 Approval and GL Coding After an invoice has been reviewed and matched against all appropriate documents it will be sent to a workflow queue to have the invoice information entered in the organizations accounting system and have GL codes assigned. This step provides the user with a button to approve the step and move the invoice to the payment step or an exceptions button that would send the invoice back to the CFO or controller to handle the exception. Step 6 Invoice Payment After the invoice has been coded and approved it is sent to the payment step. When an invoice reaches this step the user will be responsible for issuing the check to the vendor. A copy of the check can then be captured and stored within the FileBound AP Checks project. The check is indexed and stored using the Check Number, Check Amount and Check Date. FileBound can then be configured to automatically update the system with the check number and the invoice numbers that the check paid. Exceptions Step The Exceptions step is an optional step that may or may not need to be performed in the invoice approval process. An invoice will only be placed on this step if a user clicks the Exceptions button during a workflow step. A CFO or controller is normally responsible for this step. Once the user has resolved the issue they will have the options to send the invoice back into the normal approval process or send it to a standard or quick pay process.viewing of all associated documents and processing of the three-way match of the AP Invoices Workflow Step Explanation Step 1 - AP Processing When an invoice arrives on this step the user is responsible for relating the invoice with the receiving document and the PO. The invoice can then be sent on for approval, sent for standard payment or quick payment. If there is a problem the invoice can be sent to the Exceptions queue. Step 2 Exceptions When there is a problem with an invoice or there is missing paperwork the invoice is sent to the Exceptions step, or Queue. When the exception or problem has been resolved the invoice can then be sent on for approval, sent for standard payment or quick payment.

11 Step 3 Approval This step is used to approve the invoice for payment and enter the invoice into the accounting system. The invoice has been matched against the PO, and receiving documents is waiting for final GL coding and approval. If approved, the invoice will move on for payment. The user can also choose to send it to the Exceptions queue. Step 4 Standard Pay When an invoice arrives on this step a check is issued to the vendor for the invoice. A copy of the check is then entered into the AP checks project. Invoices arriving on this step have gone through the normal approval process. Step 5 Quick Pay When an invoice arrives on this step a check is issued to the vendor for the invoice. A copy of the check is then entered into the AP checks project. Invoices arriving on this step have gone through a minimal approval process to be paid in a quick and timely manner.