By Penny Cox
There has been a significant increase in the number of our clients utilising ProMaster’s E-invoicing Module for suppliers with commodities that generate very high volumes of accounts payable transactions for items of low unit value. Examples of these include courier charges (Toll), print charges, stationery supplies (corporate express), mobile phones and temporary labour hire.
The manual effort of handling these accounts, making sure they represent legitimate expenses and allocating them to the correct cost centre and account line is often so excessive that few controls can be effectively imposed.
Fortunately most major suppliers of such commodities can deliver an electronic file of transactions that represents their “invoices” on a monthly account straight to the end customer. These files look just like the file of credit card transactions that banks supply, and can easily be loaded into ProMaster in a common ProMaster format.
Once loaded, these files can be reviewed, authorised and allocated by authorised users of ProMaster, just like any other transaction. Rules for automatic processing can even be set up if users don’t wish to check every transaction. Once processed, they are ready to be automatically posted into corporate accounting systems at a chosen level of cost centre and account, and to flow into accounts payable systems. A range of reconciliation reports can also be produced within ProMaster as an additional financial control.
One of our clients The Department for Transport, Energy and Infrastructure (DTEI) has been very proactive in moving many of their high-volume, low-value providers onto the einvoicing platform. They currently receive e invoices from Toll SA, Yellow Cabs Corporation SA, On Call Translators SA, Translating and Interpreting SA and Courts Admin Authority SA and reconcile within ProMaster.
We are currently mapping E-tag and BP Fuel Cards for Other ProMaster Clients.
To implement an E-Invoicing solution requires a Category Manager Security group, an export to Accounts Payable (usually) to create an Invoice-based Purchase Order and a clearly defined set of Account users who will be the recipients and reviewers of the statement records.
If you are interested in learning more, please contact us for further information