Replace Field Validation into the Invoice

Aug 6th, 2022
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How to Replace Field Validation into the Invoice

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welcome in this short video you will learn how to validate the data that Rossum extracts from invoices validation takes place after you have imported your invoices to the platform and Rossums AI has extracted data from them once validation is complete you can export captured data into business systems that require it such as accounting software or enterprise resource planning systems as you can see in this example invoice Rossum highlights data fields in two ways a blue eye icon indicates captured data that you should consider reviewing this is a recommendation not a requirement an error icon indicates captured data that you must review if you do not either validate or correct it the platform wont let you export any of the captured data data and fields that have no icon is correct and does not need to be reviewed each blue line shows you the location of captured data on the invoice if all the captured data is correct you can continue with your review if there are any inaccuracies you

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The method of invoice validation involves checking of tax rates, the rate applied for sale of goods, GST registration details, taxable value, invoice reference number (IRN) in e-invoices, if e-invoicing is applicable etc. This process takes a lot of time and effort if done manually.
Invoice validation software In 2-way matching, the invoice is automatically compared with the purchase order to ensure that what was asked for was what was delivered and billed for. In 3-way matching, the data in the invoice is matched with those from the PO and receipt documents.
The invoice validation process involves cross-checking charges received or billed with amounts paid or received. This can be automated through accounting systems or conducted as a manual validation process.
Here are the 5 most important things to look for on an invoice: The Vendors Contact Information. The Purchase Order Number. Invoice Number. Description and Pricing. Payment Terms.
Requirements for a Valid Invoice The invoice must be properly itemized with the information listed below. Goods or services invoiced have been received or provided, as evidenced by stock received reports or similar documents or staff verification.

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