What is meant by Credit-side incoming invoices?
Creditor invoices are invoices that a company receives from its suppliers and service providers for delivered goods and services rendered. These invoices represent liabilities that the company has towards its creditors. Processing and managing these invoices is an essential part of accounts payable.
Typical Features of Software in the Area of "Creditor Invoices"
- Invoice Capture and Digitization: Automatic capture and digitization of incoming invoices using scanning and OCR (Optical Character Recognition).
- Automated Invoice Verification: Verification of invoices for completeness and accuracy, and matching with purchase orders and goods receipts.
- Workflow Management: Automated workflows for approval, release, and forwarding of invoices to the responsible employees.
- Payment Processing: Management and scheduling of payments, including creating payment proposals and executing payments.
- Integration with ERP Systems: Seamless integration with existing ERP systems for synchronization of data and processes.
- User Rights and Access Controls: Management of user rights and access controls to ensure that only authorized personnel can process and approve invoices.
- Archiving and Document Management: Secure and audit-proof archiving of invoices and document management.
- Reporting and Analysis: Generation of reports and analyses to monitor liabilities, payment deadlines, and cash flow.
- Compliance and Audit Trails: Support for compliance with legal regulations and provision of audit trails to track all changes and edits.
- Multilingual and Multi-Currency Support: Support for different languages and currencies to facilitate international business.