Invoice Verification Module |
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Verifying receipts for goods, eliminating payment discrepancies
Spotting differences between orders and invoices
During final stage of an organizational purchasing
process, materials received are verified against original
specifications designated at the time of order
placement. This activity involves checking the quality
and quantity of materials received to assure that they
match their specifications.
Analysis of invoices for accuracy against received
materials and for pricing and calculations used, is one
of the essential control functions of purchasing and
inventory management activities. Multiple departments
within same organizations are responsible for varied
processes that leads to the entry of an invoice into the
system. Therefore, it is imperative that the information
flow among these departments takes place in an
organized manner. Verification is required to determine
whether the goods specified on the invoice, which were
previously ordered, have been received in full, and
whether the terms specified in the original purchasing
order have been met. Moreover, additional expenses
such as shipping, customs and insurance should be
reflected in the cost of the goods purchased.
Although every purchasing transaction may not be
related to an order or to an inventory item, all incoming
invoices, regardless of their type should be verified
before posting to financials.
Purchasing verification ensuring utmost transparency
The CANIAS ERP Invoice Verification module offers a
complete set of features for accurate and rapid
analysis of purchasing, inventory management and
accounts payable. Specialized methods are employed
in this process to provide detailed views of
corresponding invoices.
While an invoice is being entered into the system, the
CANIAS ERP Invoice Verification module checks the
invoice against the items specified on its associated
purchase order. This makes it possible to discover
errors and perform the required corrections before the
invoice is entered into the system. The Invoice
Verification module also checks whether the invoiced
goods have been received and recorded into inventory.
This prevents entry of invoices into the system for
which the corresponding goods have not been
received. If no purchase order can be located for a
valid invoice, the invoice can be directly assigned to
materials accounts.
In purchasing operations, additional costs will
frequently be incurred. The invoices relating to these additional costs may be related to several purchased
items. The CANIAS ERP Invoice Verification module allows
for the specification of distribution criteria for use in such
cases. Distribution of additional costs may be performed
based on weight, volume, quantity, unit price or total
price. If a purchase order involves multiple invoice
entries, the system will only display unsettled items for
verification.
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