Accounts Payable Automation
Front-End: ExFlow Data Capture (OCR) & ExFlow
Wednesday, June 1st - August 31st
Back-End: APEFT, Positive Pay, & Bank Reconciliation
Wednesday, June 1st - August 31st
What's Included in our Front-End AP Automation Session:
ExFlow Data Capture (OCR):
- As a cloud service, does not require any new servers and is low maintenance for IT departments.
- Invoices can be uploaded one by one or in batches
- Supports the following file formats for invoice images: PDF, JPEG, JPG, PNG, TIFF, and TIF.
- Validated invoice data and the invoice image is transferred to ExFlow for processing
ExFlow:
- Support all types of invoices including paper, pdf and other digital formats
- Invoice information is interpreted down to line level. Supplier, quantity, item number, and unit price data is imported and validated in Dynamics 365 for F&O. Missing data can be adjusted or added manually
- Provides pre-coding of all incoming invoices, streamlining the process and minimizing manual labor
- Uses the captured data to match invoices against purchase orders, contracts and/or goods receipts in order to determine how the invoice should be processed
- If unmatched invoices or errors are identified, invoices are routed for approval. Approvers are notified via email to ensure rapid approval
- Approved invoices are automatically posted into the general ledger before they are archived. Ability to access any invoice directly from the Dynamics 365
- Real-time data processing, ensuring that financial reports always show correct figures
- Offers full support for mobile devices
- Option to accrue all non-posted invoices via an automatically created journal
What's included in our Back-End AP Automation Session:
AP EFT:
- Prebuilt formats that match your bank’s specifications
- Ability to automate building and uploading payment file to your bank.
- Ability to automate processing of response files to reject or approve payment lines
- Ability to automate remit advice emails and journal posting based on email or file-based bank response.
- Ability to quickly reverse posted payments
- Ability to control via workflow and/or separate permissions.
Positive Pay:
- Prebuilt formats that match your bank’s specifications
- Ability to completely automate building files and uploading to your bank at Check journal posting or specific time of day
- Ability to create single file and upload across multiple check runs and/or multiple legal entities. Save on per file charges!
Bank Reconciliation:
- Ability to automatically download and read in bank statement files.
- Auto-creation of bank statements with ending balance
- Sophisticated matching rules to get highest automatic matching
- Ability to automate journal entries for bank fees, ZBA sweeps, transfers, etc. upon file import.