Institute of Certified Bookkeepers
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Approving invoices to be paid using a paperless system

  • Member in Employment
  • 6 posts
  • # 117779

Hi all, I have been working with a paperless system for invoices in (and out) for a while now. I store the invoices as PDF's, attach orders and then collate the invoices & orders and attach them all to the monthly statement when it arrives. I am using Nitro PDF to manage the pdfs.

I am wondering if anyone else is using a similar system and how they manage the issue of marking that the invoice is autherised to pay?

We have a few more admin employees now and should develop a more sophisticated approval system. I want to mark on the PDF invoice that a manager has authorised it, but I am not sure how to do it in a way that can not be replicated by any one else. I guess a digital signature.

Any suggestions appreciated. Deanna

  • 2 posts
  • # 117785

hi

There are 4 steps (and thought of action) for going paperless for invoice-to-pay method

1. Set realistic and doable goals and objectives

Go for short- furthermore as semipermanent goals. as an example, common goals embody objectives to:
Integrate accounts collectible with alternative systems for faster approval and higher visibility with budgeting, inventory management, and so on.
Eliminate manual keying and paper handling and curtail on transcription errors.
Reduce labor costs and therefore the donkeywork of information entry.
Enable invoice approval by workers off-site.
Improve provider access to invoice standing for higher product and inventory flow/management.

 

2. Clearly outline the process necessities and your folks, too

Mapping current business processes is the most important challenge in progressing to associate AP automation resolution. this needs a radical volume associated task analysis of the invoices and alternative asking documents the machine-controlled system can capture and method additionally as an analysis of:
The types of invoice documents to be handled.
The actual process that has got to be done.
The folks within the organization WHO can participate in payment approval.
It is crucial to involve front-line workers members in developing practical necessities. they'll give the insights into the categories of challenges they face with existing paper-based processes. Moreover, involving people who can use the new system each day is the associate application of the previous military philosophy, "Those WHO set up the battle will not battle the set up."
Also, "clearly define" suggests that avoiding the temptation to compile haphazard checklists or nonconstructive, selfish seller gripes and feedback. The key's to remain not off course with the system necessities most significant to stakeholders and users, in order that they will not drive a stake into the design effort.


3. build a business case for paperless AP automation, and certify it covers all the bases

The "business case" for paperless AP automation should embrace the following:
Hard savings aborning prices, storing paper documents, and package licensing — that's, all quantitative prices.
Soft savings, like method efficiencies, operational enhancements, higher client relations, mitigating risk through fewer lost invoices, higher document management and chase, and faster news and disaster recovery
Hard and soft savings estimates ought to embrace the spectrum from conservative to aggressive. Calculations ought to conjointly embrace the present price per invoice and overhead prices. embrace the prices of everything concerned within the current AP system down. Again, think about input from front-line staff for the most effective insights on prices.

4. set up for a sleek and fast implementation

The large majority (over eighty percent) of AP departments generally report that it takes but a year to totally transition to AP automation. The preceding study has this vital transition advice:
"It’s conjointly vital to deploy the system in controlled phases, instead of all right away, that will increase risk. A sleek implementation includes a vital impact on achieving payback on AP automation investments."
That's why we tend to advocate beginning with the payment aspect. Implementation of paperless payments ought to minimally impact your IT resources and will and will be completed in but sixty days.

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