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General ledger (GL) invoice coding help you organize your expenses. Coding your on-PO invoices as you receive them makes it easier to track your company’s spend – but doing so can be more time-consuming than you’d expect.
In many organizations, GL coding is the responsibility of the department that made the purchase. In others, Accounts Payable handles the coding, but only after reaching out to the person who initiated the transaction. Either way, there’s quite a bit of collaboration involved. And every time an invoice changes hands, there’s a chance it gets lost or forgotten.
With IntelliChief’s GL coding software, you can classify each non-PO invoice based on the transaction type. The system can automatically look up and recommend the appropriate GL code for the invoice, even if you don’t have access to your ERP. No sending documents from one department to the next, and no time-consuming back and forth. It’s a faster, more efficient way to manage your transactions.
With IntelliChief, any user who has the appropriate permissions – no matter what department they work in – can assign a GL code to a non-PO invoice. And, they don’t need to log in to your company’s accounting program. This makes invoice coding much easier for everyone involved.
IntelliChief leverages advanced RPA technology to get your invoices to the right people, right from the start. You can finally put an end to slow and expensive inter-office mail.
Any time an invoice needs coding or approval, IntelliChief robots automatically send the corresponding employee an email alert.
Once you’ve coded an invoice, our software can instantly send it on for approval. This can be a major time-saver if you have a complex, multi-step approval route (e.g., a manager needs to sign off on purchases over $1,000, and a financial controller needs to sign off on purchases over $5,000). The faster you approve each invoice for payment, the more control you’ll have over your payables.
Your workflows don’t have to get interrupted any time an employee is traveling or working in the field. IntelliChief doesn’t require users to log into your accounting system, which means that you can assign GL codes remotely. This is a critical feature if you rely on a shared service center for financial processing. And, remote workflow access lets users code and approve invoices on their mobile devices, giving you the flexibility you need for today’s modern workplace.
Not all employees will have your Accounts Payable coding system committed to memory – and that’s fine. IntelliChief keeps them from wasting time searching for the right classification.
Pulling GL codes from your ERP, our system provides a lookup that users can select from. This makes it easier to code your invoices correctly the first time around. It also leaves you with fewer errors to correct when you reconcile your general ledger.
IntelliChief’s RPA capabilities also include intelligent analysis, which automatically recommends codes based on vendor information, invoice category, or other classifications. For instance, if you receive monthly invoices from the electric company, our software can classify each one as utilities. It can also detect common line items, like sales tax, and recommend the correct corresponding codes.
When there are multiple charges on a single invoice, GL coding can be more complicated. To help, IntelliChief lets you categorize each line item individually. You can manage each invoice based on your company’s unique business rules, whether it involves one item or one hundred.
After coding your invoices, IntelliChief can automatically transfer the data into your ERP. This means that you no longer have to manually key everything in. Line items, unit prices, GL codes, and more — it’s all updated without user input.
It doesn’t even matter which accounting program you use. IntelliChief integrates with everything from PeopleSoft General Ledger to SAP FI-GL. It even works with small, custom-designed solutions. Our Professional Services team will configure your solution to work with any technologies you have in place – both now and in the future.
IntelliChief doesn’t just help with coding invoices and sending them through your organization. It can match PO invoices with purchase orders and receipts, automating your two- or three-way match. It can also convert currencies, calculate discounts, and schedule approved invoices for payment.