One of the key strengths of the automated invoice processing operation is the tight integration between their finance system and IMS. This is based on a transfer of Shared Reference Data that happens nightly that ensures each system contains the most up to date information e.g. PO numbers, GL codes and new vendors. The outcome of automation _ The new invoice processing solution has considerably automated the AP department, this is resulting in an increase in control over the process. At the end of each month, the ERP system produces an AP Log report that lists all the invoices that are with the business users. It is expected that the slicker and faster process will lead to a considerable reduction in the number of items on this log.
The Conversion of Paper Invoices into Electronic Invoices and Vice Versa _ The recent publication of Ministerial Mandate number EHA뭚 defines the elements necessary for converting paper invoices into their electronic equivalent, establishing that the digitalization process must guarantee that the result is a faithful reproduction of the original, paper document and that the digitalization device (scanner) must produce the image along with a Qualified Electronic Signature (as defined in Directive number 1999ኹ). The process through which this is accomplished is designated as "Certified Digitalization."
Invoice examples and best practices _ Invoices are just part of the picture that mirrors the company's image and business standing. A successful business will have a good template that has all the details. The important details are of the company, the buyer and the shipment. There should be the logo and contact details of the company on the very top of an invoice. This should be followed by details of the buyer and the destination of the shipment. The details of the shipment should clearly outline what it consists of, the quantities as well as the unit cost of each item. This should be followed by the cost of the purchase, other costs, any tax that has been included and lastly the total cost of the shipment. Your invoice should be prompt, so that you can get paid by your clients on time, while invoicing is not a fun task, it's a necessary one: by keeping clients informed of your expectations, you will get paid punctually and reinforce your professionalism. After going over some best practices for creating invoices, I will review some great (and not so great) invoicing practices, so that you can spend less time creating invoices and more time doing the things you love!