User Friendly Consulting® (UFC, Inc.) is excited to start 2016 with you! We have a number of thrilling projects, software offerings, and discounts coming your way this year! We had a terrific 2015 and we intend to carry that momentum with us into 2016. Make sure to stay in tune with us by: (1) reading
Watch our video to see how IRISXtract Accounts Payable for QuickBooks Pro can automatically export to Intuit QuickBooks Pro to create a bill including line item details and vendor information. Eliminate manual keying of data by AP analysts to allow them to focus on their core business functions rather than data entry.
Note: QuickBooks (or other Intuit product) and Intuit are registered trademarks and service marks of Intuit Inc., displayed under license.
Watch our video to see how IRISXtract intelligently determines the type of a document such as invoices, contracts, or letters. This video shows how this process works and how it could benefit your company without the need to build templates.
Watch our video to see how UFC’s AP Energize powered by IRIS automatically extracts information including line items from invoices and why this software solution provides a very rapid return on your investment. IRISXtract offers a true out of the box solution for accounts payable automation and is able to work with most ERP and accounting systems. Visit our web page to find out more.
Watch our video to see how your invoice processing can be revolutionized by the experts at UFC, Inc. We will recommend the very best solution to meet your needs including ABBYY FlexiCapture and IRISXtract. Visit our homepage to find out more: https://www.ufcinc.com/
Largest Non-Bank Cash Advance Provider Enhances AP Process.
This is Part 2 of our video series on the basics of document capture. In this video, Travis goes into great detail on some specific elements of document capture. He will look at document processing and discuss OCR, OMR, and ICR. We are providing these videos to educate viewers about the benefits of using document capture.
We are pleased to present this testimony from Noble House Home Furnishings regarding their implementation of IRISXTract:
Since finalizing the proof of concept project with UFC, Inc. for the IRISXtract OCR scanning software in April 2015, we have benefited from using the IRISXtract software to process our vendor invoices through our Quickbooks Pro Online system.
Watch this video showing the ABBYY FlexiCapture for Invoices performing a two-way match out-of-the-box. Matching is a concept that is very familiar to people in the accounting field and especially those involved in the processing of accounts payable (AP) invoices. The two way match is at the most basic level a correspondence between the details on the invoice and the purchase order that requisitioned the product or service. During this matching process the accounts payable analyst will verify their business rules for the following: (1) The price of each line item on the invoice is less than or equal to the line item values on the purchase order, and (2) Verify that the total invoice price is less than or equal to that listed on the purchase order.
Hello. Today I’m going to show you how two-way matching is done within ABBYY FlexiCapture. Now, this is a very neat process because it allows us as invoice processors to understand what’s included on our invoice and to compare that against the purchase order that was presented for that invoice to the vendor.
What we’re going to do is process just a couple of invoices here. These should be very similar invoices to what you have in your organizations today. There’s nothing too special except that you see that they reference a purchase order number. What we want to do is we want to look that purchase order number up in our accounting system and compare that against this invoice to make sure that we received what we ordered.
That’s our first invoice. We’re just going to run two. Here will be our second invoice and it’s very similar, too. You see there’s an order number here as well.
What we want to accomplish is just that, doing that comparison. Let’s go ahead and run these. We’ll just strap this into our ABBYY FlexiCapture system and let the system do the comparison. That’s what it’s doing right now. It’s done.
Let’s walk through just a couple things, just the basics that the system found automatically. You can see here that we found the business unit. We found a vendor who is on the invoice. I can zoom in on the invoice here just a little bit. You can see that there’s the vendor. We have the business unit here. We’re able to find the invoice number, the data automatically, the total on the invoice.
But the very neat part, and this is the two-way matching that is so, so important, is our purchase order. You see that it found that there’s a relevant order associated with this invoice. What it does is it looks this purchase order up in our accounting system to make sure that, for one, we find the order and, for two, that it matches the total that we presented on the purchase order.
Then the next thing it does is it looks up the line-item detail for that purchase order and does a comparison once again against the purchase order and the invoice. You can see here that we actually have a rule. This is called a rule. What this means is that there’s something wrong with the data. This line item does not match.
We can just take a peek at it. The best thing that we can do is actually go look and if we press this details button, we can see in our accounting system all the information about this purchase order. We can see that this is actually that line item.
The problem is is that the unit price does not match. You can see the unit price on the invoice says $3.50. The unit price within our accounting system on the purchase order says we were purchasing this at $1. There’s a problem there.
There’s a couple things we could do here is, one, we would reconcile this with the vendor. We would call the vendor and make sure this is right. Of course, if for any reason we wanted to override it, which is not a typical response, but we can do that, we can just override it. You’ll see here, once it does that, it will pass all the rules. Our rule is gone and this invoice is ready to get exported into our accounting system.
We’ll look at the second invoice here. Very similar. You see that it’s an invoice versus a credit note. There’s a business unit, a vendor, and an invoice number and date that we found automatically. Of course, the invoice total, U.S. currency.
Once again, we were able to find that there’s an order number on the document automatically, without any templates, and we were able to look at that purchase order in our accounting system and find a total, which does actually match this invoice. This invoice is good to go. There’s no issues.
Also, we did a look up and comparison against our accounting system, so the items here in green, if you can see that, mean that they have been checked and they are approved versus our accounting system. What this invoice shows is what our accounting system had on the purchase order.
That’s how the two-way matching is done. It’s a very neat feature. It synchronizes seamlessly with your accounting system. We can implement this in just a few hours and you’ll be running invoice processing and doing this two-way match against your purchase orders so that you have the correct data on your invoices. Thank you.
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We are excited to share our new Sage 50 connector with you! It can be integrated into many document capture systems such as ABBYY and IRIS. Please click here to learn more about the connector and to watch a video of it in action!