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What are the most effective ways to reconcile automated invoices with your ERP system?

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If you use process automation to streamline your invoicing workflow, you might wonder how to ensure that your automated invoices match your ERP system data. Reconciling invoices with your ERP system is crucial to avoid errors, discrepancies, and delays in your accounting and reporting. In this article, we will share some of the most effective ways to reconcile automated invoices with your ERP system, and how to overcome some common challenges.

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Andy Dixit

Managing Director of ABOR-TECH PTY LTD.

1 Choose the right automation tool

The first step to reconcile automated invoices with your ERP system is to choose an automation tool that can integrate with your ERP system seamlessly. You want a tool that can extract data from your invoices, validate it, and send it to your ERP system without manual intervention. You also want a tool that can handle different formats, languages, and currencies of your invoices, and that can apply the appropriate rules and validations for your business. Some examples of automation tools that can integrate with ERP systems are UiPath, Automation Anywhere, and Workato.

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Andy Dixit

Managing Director of ABOR-TECH PTY LTD.
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An example of doing the validations, Checks based on endpoint and or country it is possible to automatise the invoice creation process when the validations are passed. The question ia on exception handling which do not pass the validation. The ADDON tool which can do this is the Pre-sales Suite which fulfills exactly this criteria.

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2 Set up a reconciliation process

The second step to reconcile automated invoices with your ERP system is to set up a reconciliation process that can verify the accuracy and completeness of your invoice data. You can use a reconciliation tool that can compare your invoice data with your ERP system data, and flag any mismatches, duplicates, or missing information. You can also use a dashboard or a report that can show you the status and progress of your reconciliation process, and alert you of any issues or exceptions. Some examples of reconciliation tools that can work with automation tools are ReconArt, BlackLine, and Trintech.

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Andy Dixit

Managing Director of ABOR-TECH PTY LTD.
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What good and should be performed automatically is not allowing incomplete invoices to be sent out as they have failed the validation and henceforth, system stops from sending it. The tool ADDON Pre-sales Suite can do this. The users are informed about the issue and guide them is an important aspect to fix the error.

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3 Monitor and review the results

The third step to reconcile automated invoices with your ERP system is to monitor and review the results of your reconciliation process regularly. You want to check if your automation tool and your reconciliation tool are working as expected, and if they are delivering the expected benefits. You also want to review the quality and accuracy of your invoice data and your ERP system data, and identify any areas for improvement or optimization. You can use metrics and KPIs to measure the performance and efficiency of your reconciliation process, such as the number of invoices processed, the error rate, the reconciliation time, and the cost savings.

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4 Handle exceptions and errors

The fourth step to reconcile automated invoices with your ERP system is to handle any exceptions and errors that might occur during your reconciliation process. You want to have a clear and consistent procedure for resolving any issues or discrepancies that might arise, and for communicating with your stakeholders and vendors. You also want to have a backup plan in case your automation tool or your reconciliation tool fails or malfunctions, and for restoring your invoice data and your ERP system data. You can use workflows and alerts to manage your exceptions and errors, and to escalate them if necessary.

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Andy Dixit

Managing Director of ABOR-TECH PTY LTD.
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As mentioned, the challenge is to handle exceptions and errors the rest is automatised and therefore does not need intervention. It is very important, therefore, to clearly define the validation rules and setup which are customisable in a user friendly way and an authorisation role assigned to perform this function. There are alao deviations in the standard eInvoice example being BIS12931 or CII(Cross Country Invoice) the system should know which endpoint shall get which invoice automatically and deviations and what formats being UBL, CII etc..which are mostly based on xml structure Sometimes, differ on fields sent out with which values and which format as this is important for the endpoint validation or else is too late to fix it.

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5 Train and educate your staff

The fifth step to reconcile automated invoices with your ERP system is to train and educate your staff on how to use your automation tool and your reconciliation tool effectively. You want to ensure that your staff understand the benefits and the limitations of your automation tool and your reconciliation tool, and how they can support and complement them. You also want to ensure that your staff have the skills and the knowledge to perform their tasks and responsibilities in your reconciliation process, and to troubleshoot any problems or questions. You can use manuals, videos, webinars, and workshops to train and educate your staff.

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6 Evaluate and update your reconciliation process

The sixth and final step to reconcile automated invoices with your ERP system is to evaluate and update your reconciliation process periodically. You want to assess if your reconciliation process is meeting your goals and expectations, and if it is aligned with your business needs and changes. You also want to update your reconciliation process to incorporate any feedback, suggestions, or best practices that you have learned from your experience or from others. You can use surveys, audits, benchmarks, and reviews to evaluate and update your reconciliation process.

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Andy Dixit

Managing Director of ABOR-TECH PTY LTD.
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If the validation fails then there should be a workflow to identify errors, determine at what point and place the error has occured and the solution to fix it. The Pre-sales Suite can identify this and help users know and guide im fixing the issue.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are the most effective ways to reconcile automated invoices with your ERP system?

1

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3

4

5

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7

1 Choose the right automation tool

2 Set up a reconciliation process

3 Monitor and review the results

4 Handle exceptions and errors

5 Train and educate your staff

6 Evaluate and update your reconciliation process

7 Here’s what else to consider

Process Automation

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What are the most effective ways to reconcile automated invoices with your ERP system?

1

2

3

4

5

6

7

1 Choose the right automation tool

2 Set up a reconciliation process

3 Monitor and review the results

4 Handle exceptions and errors

5 Train and educate your staff

6 Evaluate and update your reconciliation process

7 Here’s what else to consider

Process Automation

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