Accounting for Cost Invoice and Indirect Sales
Introduction
Welcome to the Accounting for Cost Invoice and Indirect Sales module! This module is designed to help you efficiently manage and reconcile your financial transactions within your ERP system. With features like automatic data extraction, document matching, and detailed tracking, you can ensure that your financial records are accurate and up-to-date.
Getting Started
To start using the accounting module, make sure you have the necessary permissions set up by your system administrator. You will need access to both the cost accounting and sales accounting modules within the ERP system.
System Requirements
Access to the cost accounting and sales accounting modules within the ERP system.
Appropriate user permissions for viewing and processing financial documents.
Key Features
Automatic Data Extraction: Automatically extracts and interprets data from digital invoices and other documents.
Data Comparison: Compares extracted invoice data against existing purchase order data.
Match Verification: Verifies matches based on predefined rules and tolerances.
Discrepancy Reporting: Identifies and reports any discrepancies between invoices and purchase orders.
Audit Trail: Maintains a log of all actions for compliance and review.
Document Training: Train the system to recognize new documents with minimal effort, typically only once.
Amount Splitting: Split amounts by department for detailed financial tracking.
Ledger Account Definition: The APS (Accounting and Procurement System) team can define the ledger account once the data is extracted.
User Interface
The accounting module interface typically includes the following components:
Dashboard: Overview of invoice and sales status, and recent activity.
Search and Filter Tools: Capabilities to search and filter invoices and sales records.
Matched Records: Section displaying successfully matched records.
Discrepancies: Section showing records with discrepancies needing review or action.
Reports: Access to detailed reports and export options.
Step-by-Step Guide to Using the Accounting Module
1. Access the Accounting Module
Navigate to the accounting module from the main menu of your ERP system.
2. Import or Access Invoices
Automated Import: If your system is set up for automated data capture, invoices will be imported automatically into the system.
Manual Upload: If necessary, manually upload invoice files into the system using the provided interface.
3. Review Automatically Matched Invoices
Review invoices that have been automatically matched with purchase orders.
Verify the details of the match, including item numbers, quantities, and prices.
4. Handle Discrepancies
Access the Discrepancies section to review any invoices that could not be automatically matched.
Manually adjust quantities or prices as needed, or flag the invoice for further review.
5. Manual Matching
For invoices not automatically matched:
Use the search and filter tools to find the corresponding purchase order.
Manually verify and match the invoice to the purchase order.
6. Train the System
For new document types, train the system to recognize them by providing a sample.
Typically, you only need to train the system once for it to accurately recognize similar documents in the future.
7. Record Bookings
Navigate to the "Line items" tab to view and record bookings for each invoice.
Allocate the amounts to the appropriate accounts, cost centers, and dimensions specific to Infor LN/M3.
Example: Booking a Cost Invoice
Select Line Item: Choose the line item for the cost invoice.
Assign Account: Assign the appropriate account, such as "71200 - Non-Operating Expense".
Set Dimensions: Set additional dimensions like cost center, product group, and project.
Split Amount: If necessary, split the amount by department for more detailed tracking.
Enter Amount: Enter the amount for the line item.
8. Define Ledger Accounts
Once the data is extracted, the APS team can define the ledger accounts.
This ensures that each transaction is recorded under the correct account for accurate financial reporting.
9. Generate Reports
Access the "Reports" section to generate detailed reports on financial transactions.
Use export options to save reports for further analysis or record-keeping.
Example Usage
Uploading Documents: Users can upload various documents (invoices, delivery notes, etc.) to the system.
Automatic Matching: The system automatically matches the uploaded documents with existing purchase orders.
Reviewing Matches: Users can review the matches, verify details, and see status indicators.
Resolving Discrepancies: Any mismatches or discrepancies are highlighted for the user to manually review and correct.
Exporting Data: Matched data can be exported for further processing or record-keeping.
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