Coding PO and Non-PO Invoices With GL Coding Software
GL Coding Software Designed to Empower Workers in the Field for Faster, Real-Time GL Coding
General ledger (GL) codes help you organize expenses, but streamlining your GL coding process takes a lot of collaboration between your organization and the entity that initiated the transaction. Your Accounts Payable department is tasked with coding PO and non-PO invoices. Generally, PO invoices are somewhat simple to process; however, non-PO invoices present a challenge for most organizations. If you can code your Non-PO invoices as they are received, it makes it significantly easier to track your company’s spend. Unfortunately, doing so can be more time-consuming than you might expect.
Classify Each Non-PO Invoice Based on the Transaction Type
With GL coding software, your organization can classify each non-PO invoice based on the transaction type. The corresponding GL codes can then be pulled from your Enterprise Resource Planning (ERP) system to ensure that invoices are coded correctly from the start, resulting in fewer errors to correct when you reconcile your general ledger.
Automatic Look-Ups: A Key Feature for Coding PO and Non-PO Invoices
Premier GL coding software can automatically look up and recommend the appropriate GL code for the current invoice in the queue, even if the processor doesn’t have access to the ERP (i.e., workers coding in the field). For example, IntelliChief uses AI-based analysis to recommend codes based on vendor information, invoice category, and other classifications. It can also detect common line items, like sales tax, and recommend the correct codes. Furthermore, any user with the appropriate permissions regardless of their department can assign GL codes to non-PO invoices.
Eliminate Slow Interoffice Mail
With an intelligent GL coding software solution, anytime an invoice requires coding or approval it will be routed to the proper user, even going so far as to alert them with a notification. Once coded, electronic invoices are sent for approval. Even complex, multi-step approval routes, such as when a manager needs to sign off on purchases over $1,000 but a financial controller needs to sign off on purchases over $5,000 (two approvals), can be streamlined and automated. Even employees that are out of the office can stay in the loop by assigning GL codes remotely without logging into your accounting system.
Coding PO and Non-PO Invoices With IntelliChief
IntelliChief, the emerging leader in ECM and Workflow Automation allows your organization to simplify the process of coding PO and Non-PO invoices while expanding your capabilities. With GL coding software baked into our Accounts Payable Automation solution, you can rest assured that your general ledger headaches will become a thing of the past.