AP Automation for Sage Best Practices
PaperLess AP Automation
The top choice of Finance Professionals to automate Document Management Processes and Invoice Processing Routines.
While many companies have already streamlined the majority of their business processes, many still struggle on finding a way to improve accounts payable processes. This is due to the fact that these are among the most complex and time-consuming processes, hence it is vital for companies to be aware of the best practices to automate Accounts Payable processes.
The fact is that paper-based accounts payable can be a cumbersome, time-consuming and prone to error process. So, the first thing Accounts Payable Managers need to do is to make sure that they move towards a PaperLess Accounts Payable.
AP Automation Software for Sage 50 and Sage 200
Manual invoice processing creates a high volume of additional work, wasting hours across multiple departments and generating substantial costs. Hence, it is vital that companies seriously look into automating invoice payable processes to reduce costs, increase productivity and keep the headcount under control.
With the right AP Automation software, companies can slash invoice payable workload by 80% and process transactions 25% faster. It all comes down to the accounting software the company currently uses and ensure that they implement an AP Automation Software fully compatible with it.
Industry Week claims that automated invoicing can reduce errors by as much as 37%. Allowing automated systems to run your Accounts Payable will eliminate the potential for human error. These software systems are accurate and precise, so that you can be assured that your invoices and purchase orders can run smoothly.
AP Automation best practices
Make sure you choose an AP Automation Software fully compatible with your Accounting System
Choosing a software that integrates seamlessly with your Accounting Software is one of the main best practices any company wanting to automate Accounts Payable processes can follow. PaperLess dramatically enhances and simplifies AP because the software is designed with the needs of Sage users in mind.
Such integration is what makes possible for Sage users using PaperLess to speed-up invoice scanning, invoice processing and invoice approval routines. These are among the most time-consuming tasks in the entire accounts payable process, so by speeding it up, Accounts Teams are increasing efficiency levels while, at the same time, cutting down on the potential for error, and ultimately increasing employees’ satisfaction levels.
Read the article to learn how to Automate, Streamline and Scale Your Accounts Payable Workflow with PaperLess AP Automation for Sage.
Get an AP Automation Software that automates invoice data capture processes
One of the most-time consuming tasks when processing invoices is to manually key in invoice data into the accounting system. Thus, make sure you choose an AP Automation System that includes an OCR Software to automatically capture invoice data.
This is one of the most well-known features of PaperLess for Sage. PaperLess Invoice Recognition, automatically extracts all invoice data so that Sage users no longer have to spent time on manual data input. With PaperLess, posting invoices into Sage is a fast and fully automatic process.
Also, important to mention that only by integrating seamlessly with Sage is that PaperLess AP Automation is capable of automatically cross-referencing the invoice data with the supplier default settings in Sage, automate invoice approval per supplier, department, project and / or costs centre. This way, when automatically extracting invoice data, Sage users do not need to be manually splitting costs across nominals or tax codes, PaperLess does that in a fully automatic manner.
Implement an AP Automation Software that speeds-up invoice archiving and retrieval
Another time-consuming and difficult to control aspect of the invoice processing cycle is the approval part. Therefore, make sure that whatever AP Automation system you choose it offers and invoice approval features.
However, an Invoice Approval Software for accounts payable is much more than just sending invoices for approval. If that was the case, then sending invoices for approval via email would be enough and companies would not need to invest on an approval software.
PaperLess Invoice Approval not only enables Sage users to approve invoices in a fast and easy way but, at the same time, it gives Accounts Teams full control over the invoice approval workflow. With PaperLess, Sage users can know exactly what invoice are pending approval, if approval deadlines are being met and, if needed, override users or forward the invoices to a different approver.
Automation of approval processes is also a core part of PaperLess Invoice Approval. With this software, Sage users can automate approval processes per department, costs centre, supplier and/or project as well as set-up approval thresholds and second level approvals.
Recommended by LinkedIn
Your AP Automation Software must speed-up invoice archiving and retrieval
Going PaperLess not only makes it easy to file invoices and keep records, but also to search through them. Thus, retrieving important documents can be easily done with just a few clicks. Furthermore, all the data is stored digitally so you won’t need to dedicate a physical storage area for all your invoices.
Can you think of any better and faster way to speed-up invoice archiving and retrieval processes then to have PaperLess automatically attaching invoices to Sage. Yes, whenever you post a transaction from PaperLess into Sage, PaperLess automatically uploads the invoices to Sage.
By getting all invoice automatically attached to Sage, Accounts Teams can view the invoices directly from within Sage accounting lines.
With PaperLess AP Automation for Sage, no more time is spent on filing or searching for invoices. PaperLess automatically processes, manages and archives all documents in seconds.
Choose an AP Automation Software that matches invoices with purchase orders
If your company uses purchase orders, make sure to choose and AP Automation Software that can automatically match if the invoice matches the purchase order. If not, you will end up having to for every single invoice manually check if it matches the corresponding PO.
For this, Sage users have available PaperLess Automatic Matching & Closing of Purchase Orders. This way, when posting an invoice into Sage, PaperLess automatically checks if the invoice amount matches the purchase order amount. If the invoice matches the purchase order in Sage, PaperLess automatically closes the purchase order, posts the transaction as defined on the purchase order and attaches the invoice into Sage.
Even though these automation levels are already quite impressive, what turns PaperLess into the best AP Automation for Sage is the fact that this Sage Developer always takes things one step further.
Sage users raising purchase orders in Sage can automate AP processes even further with PaperLess Company Inbox. With this feature of PaperLess, Accounts Team only need to focus their attention on invoices that do not match the purchase order in Sage. All other invoices are automatically processed by Paperless.
PaperLess Company Inbox automatically process all invoices on the Accounts inbox by capturing all invoice data and, if the invoice has a Purchase Order number, PaperLess automatically matches the invoice amount with the PO amount. If there is a match, PaperLess automatically closes off the purchase order in Sage, posts the transaction and attaches the invoice to Sage without the Accounts Team even having to look into those invoices.
This means that if 70% of your invoices match the Purchase Order, your Accounts Team will only need to be looking into 30% of the total number of invoices they usually process on a daily basis.
What are Sage Users Saying About the Best AP Automation for Sage?
Sharon Harkins Office Manager RAD Hotel Group
Nicholas Reyes-Ramirez, Everyman Media Group’s Finance Assistant
Paul Adams, from JACOB
UKFast Finance Director, Joseph Ryland
Contact Us
Email: info@paperlesseurope.com
Phone Number: +44 (0) 207 135 2007