Dynamics Invoice. for Microsoft Dynamics 365 for Finance and Operations 1 / 11. Dynamics Invoice

Transcription

1 for Microsoft Dynamics 365 for Finance and Operations 1 / 11

2 Content Introduction 4 Scanning and Line Recognition 5 Electronic Processing 6 Expense Invoices 7 Automated Matching 8 Workflow & Reporting 9 2 / 11

3 Save Up To 70% on your Invoice Processing Costs 3 / 11

4 01 Introduction Benefits Automatic matching of invoices based on purchase orders Yearly, the accounts payable departments of medium-sized and large organizations manually process amounts of purchase invoices on a manual basis. There is a strong need to be able to process workloads with higher productivity levels, on reduced resources. A large portion of manually processed invoices expense invoices. Savings may run up to 70 requires a substantial part of staff capacity. percent in FTE s. Consider the numerous manual activities, such as entry into Microsoft Dynamics 365 for Other benefits of are increased effectiveness by reducing misplaced Finance and Operations verification of accuracy, the routing for approval and archiving. invoices during the approval process or the gained insight in future expenses and By using you can fully automate the processing of incoming invoices, postings. required liquidity by practicing intermediary both purchase order related invoices and Saving up to 70% on your invoice processing costs No more misplaced invoices during the approval process Insight into the status of an invoice throughout the entire process. Intermediary postings providing an insight into future expenses and required liquidity Availability of a digital invoice archive allowing for convenient searches 4 / 11

5 02 Scanning & Line Recognition Scanning Accounts payable departments that work with Dynamics Electronic Invoice Processing start by scanning the incoming invoices. Using Optical Character Recognition and Intelligent Character Recognition the system will automatically recognize input fields. Employees do not have to create a template for every supplier. After the recognition, an employee validates the recognized data with simple drag and drop. The system retains the indicated structure of invoices of recurring suppliers, and these invoices are then instantly recognized. Line Recognition When it is desirable to match invoices on a line level automatically, line recognition provides added value. It can be set up on a flexible basis by supplier and provides added value when processing recurring invoices form for example lease and telecommunication suppliers. Lines can be recognized based on a telephone number or a license plate, but an invoice line can also be enriched with correct coding, and a complete proposed entry can be generated automatically. 5 / 11

6 03 Electronic Processing Processing offers a mail application that automatically reads mailboxes and saves attachments and imports invoices. An automated reply can be sent to a supplier, indicating that the invoice was duly received and will undergo processing. You are also able to process electronic invoices in formats such as EDI, XML or CSV and subsequently handle these entirely automatic without any additional actions. Archiving After the recognition phase, invoices are archived. Time-consuming manual archiving and the associated expensive archive space becomes obsolete. In consultation with tax authorities, you can even dispose of the physical invoices. Upon further processing of the invoice, extra informa-tion to the invoice search fields, such as cost center or project number can be added. In a digital Audit Trail, the system will keep a record of which employee dealt with an invoice, at which step of the process and at what time, al the while keeping records of decisions made. This provides a complete understanding of relevant information related to the handling of invoices. Using the My Archive function, employees can search for invoices in a user-friendly way. Over twenty search fields are to their disposal to enable them to quickly find that related invoice. 6 / 11

7 04 Expense Invoices Handling and Templates When starting to handle expense invoices, the letterhead details of an invoice are already known and verified. To make an entry, an employee has to code the invoice lines. A classification can be made on cost center or project number and for the coding to be carried out faster and more efficiently, a coding template can be used. To use a template, you can create a default value for one or more of the fields to be coded. shows the default values on every invoice of a supplier, but they can be overwritten. For invoices which recur periodically and have many invoice lines, the user can copy the coding of a past invoice. To increase efficiency further oen can easily import an Excel file whereby the invoice lines are created automatically in Dynamics Invoice. Registering and Booking Because of the integration of Dynamics Invoice within Microsoft Dynamics 365 for Finance and Operations various possibilities are offered to enhance your workflow for invoice handling. You can, for example, register invoices upon receipt on a balance sheet account invoices still to be approved. Your accounts payable position will then be up-to-date and enables you to pre-deduct VAT. Once these invoices have been approved, they are posted into the costs without blocking them.another option is that, upon receipt, an invoice is immediately posted into the costs, with a payment block. Only when the invoice gets approved, the block is removed to enable further processing. 7 / 11

8 05 Automated Matching Matching on Total Amount has acompletely automatic matching function that supports both the 2-way and 3-way matching principles. It can match the total amount of the invoice, based on the invoice header information with the balance of the remaining goods pertaining to the order numbers. If these amounts correspond and are less or equal to the outstanding balance of purchase orders, the system will post the invoice automatically. A mismatch will occur if the remaining goods are not found or if a price or quantity discre-pancy is detected. can automatically present invoices for processing to a responsible purchaser through an advanced workflow. Administrative completion takes place automatically in Microsoft Dynamics 365 for Finance and Operations. Matching on Line Level With, one can link the invoice line to the correct line for goods received. The system verifies per invoice line, whether or not quantity and price are correct. A discrepancy list is generated automatically. In the event of a mismatch, the invoice can be automatically presented to the responsible purchaser. 8 / 11

9 06 Workflow & Reporting Procuration Flow A procuration flow diagram can be set up which routes expense invoices to the responsible budget holder for approval. The procuration flow diagram can be created using a hierar-chical model where procuration limits are determined through roles, with which, follo-wing the approval of the budget holder, the system will check if the amount is within their authority and whether additional approval is needed. One can also determine all sorts of possible exceptions. For example, based on a selected supplier or ledger account, invoices can be automatically sent through a different route. This controls the type and degree of deviation that may be dealt with by the accounts payable department. Reminders Electronic Invoice Processing has a comprehensive reminder function to have full control of the handling process. Automatic noti-fications can be sent if, for example, invoices remain with an employee for more than a certain period, or if the expiry date has almost been reached. 9 / 11 Reporting The management report module provides comprehensive overviews of, for example, the matching percentage and the average turnaround time. Employees are able to, for example, easily generate Excel spreadsheets at the months end for invoices that have not yet been entered into Microsoft Dynamics 365 for Finance and Operations because they have not yet been approved Pre-requisite Microsoft Dynamics 365 for Finance and Operations.

10 Want to know more? We are happy to advise you which solution or technology is the best fit for your specific needs. Our standard Dynamics Apps are available on Microsoft AppSource and are sold, implemented and supported worldwide by our industry experts and strategic partners. Please feel free to contact us. We appreciate your interest! Contact HSO Innovation Contact information T +31 (0) / 11

11 1500 Projects 13 Offices 650 Employees Newtonstraat HP Veenendaal T +31 (0) innovation@hso.com HSO is a successful technology integrator with more than 650 employees and offices in North America, Europe, and Asia. HSO Innovation, as part of the HSO Group, offers new ways using new technology, new applications, new processes, and new approaches to assist our clients in becoming digital leaders in their industry. We deliver industry innovation by offering standard Dynamics Apps integrated with Microsoft Dynamics 365 and solutions and services using Microsoft Azure, Microsoft 365 and SharePoint. HSO Innovation combines this with the delivery of technology innovation services and services innovation. Our standard Dynamics Apps are available on Microsoft AppSource and are sold, implemented and supported worldwide by our industry experts and strategic partners. Our innovative solutions and premier services are based on best practices developed over the years working directly with our customers across diverse industries and verticals. For more information visit: 2 / 11