Accounts Payable - Invoice Entry
Invoice processing is a business function performed by the accounts payable department which consists of a series of steps for managing vendor or supplier invoices from receipt to payment and recorded in the general ledger.
Applications involved:
-
Kofax: Kofax scans and verifies the documents and imports only codes.
- E5: the approval process goes through e5.
- Ungerboeck: the exported file is then imported into UB.
Workflow Diagram:
- The process starts by the suppliers and the business sending through the invoice to payables. The business will first raise a PO in Ungerboeck and attach the invoice in UB along with the coding to the GL’s.
- Then Kofax scan and verifies if the document needs to be manually updated or not. This is known as touch or no touch.
- All no touch documents will need to be approved in e5 and exported into Excel and them import into UB.
- All the touch documents are verified by either document review or document validation.
- In document review, Finance decides if the document is either PO, NON-PO.
- Document validation is where Finance inputs the invoice details i.e., supplier, amounts etc.
- Kofax then imports the code per invoice per organisation and gets approved in e5 and follows through the export and import process.
- This process is then followed by Accounts Payable - Payment Cycle.