softgate enhancement package: Invoice processing with approval workflow

The TotalAgility invoice capture and invoice approval process captures invoice documents via scan, folder import, or from email inboxes.

First, the system classifies the document as an invoice document and then extracts the invoice fields to be read out. The relevant information is automatically extracted in accordance with Section 14 of the German Value Added Tax Act (Umsatzsteuergesetz – UStG), e.g.:

• the full name and address of the supplier (by means of a database comparison with the supplier master database)
• the tax number issued to the supplier by the tax office or the VAT identification number issued to the supplier by the Federal Finance Office (by means of a database comparison with the supplier master database)
• the date of issue
• a consecutive number with one or more series of numbers that is assigned once by the invoice issuer to identify the invoice (invoice number)
• the quantity and type of goods supplied or the scope and type of other services, i.e., the individual invoice items (optional, against additional expenses)
• the date of delivery or other service or the date of receipt of the advance payment, if this date is fixed and is not identical to the date of issue of the invoice
• the consideration for each tax rate or exemption
• any price reduction agreed in advance, provided it has not already been taken into account in the consideration
• the applicable tax rate and the amount of tax due on the consideration.

In an initial validation to visually inspect and supplement the information, the invoice is submitted to the users via a validation screen. The invoice can be assigned to a responsible employee or group.

Once validation is complete, the approval workflow is started. A second validation step and the account assignment (cost centers/cost unit assignment and, if necessary, division into partial amounts) take place here. The invoice amount is used as the criterion for submitting the invoice to different persons (or groups of persons) for approval. Here and also during validation, corresponding substitute rules can be stored for absence and vacation times. If approval is not granted, the invoice is sent back to the verifier with a note so that any errors can be corrected before the approval can be checked again.

Important:

To ensure very good quality of the extraction results, it is necessary to train the software. A 100% correct extraction of all index values defined by the customer cannot be guaranteed!

Prerequisites

Tungsten TotalAgility from version 7.11, transformation volume

• Efficient validation and workflow management 
• Customizable approval workflow 
• Automated compliance and data extraction