How to convert an invoice into usable data in NetSuite natively with ZoneCapture | The ERP Coach

🚀 Elevate your NetSuite game with our latest tutorial!

In this video, we deep dive into the seamless process of converting invoices into actionable data right within NetSuite, all thanks to the incredible power of ZoneCapture.

💡 Unleash the potential of your NetSuite platform as Ashlee Nordstrom, Solution Consultant at Zone & Co, guides you step-by-step walkthrough of transforming invoices into usable data, effortlessly and natively. ZoneCapture simplifies the entire conversion process and gives you back valuable time to use on what truly matters – strategic decision-making!

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The ERP Coach is an ongoing educational video series hosted by Zone & Co. We provide tips, tricks, how-to’s, and even improvement and efficiency opportunities within an ERP platform to make finance operations easy breezy at your business.

Transcript:

 Today we're going to be looking at how simple it is to process your vendor bills and credits and have them become usable data within your NetSuite environment. I'm Ashley Nordstrom and I'm your ERP coach.

So first step in the process is I of course have my bundle installed into my NetSuite environment.  Now when we do that, we also configure some email plugins. And that's going to give you the ability to forward those vendor bills and credits across into your NetSuite environment for us to be able to extract that data for processing.

So we'll just navigate here. We've got my customizations, plugins., and manage plugins. As you can see in my environment, I do have quite a few, uh, so we can do a single email plugin and that's going to give the ability for the system to search who that invoice has been billed to  and dynamically allocate to a subsidiary you have set up in your NetSuite environment.

We can also do a single email plugin per subsidiary. So that's going to give it more of an allocation pre-based on that email plugin. And I can drag and drop my PDF files.  And send it to this designated email address. Uh, or you could simply forward an email you've already received off your vendor with those attachments.

Before we move on to actually processing, we'll just quickly have a look at the setup behind the application. So we'll come to the setup menu and I've got my tab here for zone capture now You've got some options here as well. We've got a main configuration so this would be base for the whole application but you can also do it based on subsidiary so you can slightly deviate on those setups are based on your subsidiary within your environment So we might just go to my main configuration and I will select edit.

So this is where we've got some general settings. If I want the system to help with the control of duplicates.  I've got some options here. If I want to enable three-way matching. So this is going to be obviously for businesses that are running purchase orders and inventory and are really looking for that true three-way match.

I can also on this have some settings. If I want to enable some thresholds as well on the base setup. So with thresholds, they can be enabled on the company setup.  They can be enabled on a vendor level and also an item level. So it's really. I've got lots of options there as well. Now I've got my dashboard here, or my portlet on my dashboard.

And I've got my incoming queue. So these are vendor bills and credits that the OCR has already captured. And this is going to be my listing for that review and validation stage. Process this month. It's a really nice reflection on what you have saved from this incoming queue for that month's time period.

My final two icons here relate to e-invoicing.  So we have both a PDF OCR side of scan and capture, and then we also have e-invoicing. So we also cater for inbound and outbound e-invoices. We're going to open up my incoming queue in another window. This listing can also be customized on a user level basis.

So the system will remember your browser history and your preferences on your layout for this listing. Blue essentially means a link or another record type is going to pop up in the system that contains more information. So I can directly click on my supplier and that's going to open up my vendor record.

Similar with purchase orders. If we find a match to a purchase order within your environment, I can also directly open up that PO. We've also got the status of the purchase orders. Our system alert column that contains notifications for duplicates. NetSuite tends to warn you upon hitting save. We want to warn you before you're even attempting to process this transaction.

I've also got a quick pop up of PDF.  So I can simply select on one of my documents here, click the little PDF icon,  and this also supports multi pages in this pop up.  Okay, so now we'll go in to process a transaction. So all I need to do is select the process button and we can review the data that's been captured.

So my vendor bill has loaded and we'll just go through some of the data that has been captured. So my invoice number has been captured and pre populated. And similar with my invoice date, now as you can see, clicking on those fields, we're also highlighting back against the invoice where the system has captured that data from.

We'll now get into the line level detail of this particular transaction. So I can simply scroll down.  Now as mentioned, this isn't related to a purchase order. So the OCR has captured and brought across a lot of this information for me.  So it's pre populated my description  and pre filled that, similar with my amounts.

Now you'll notice I do have some GL coding that has been pre populated here as a suggestion. So I can still manually edit this if I wanted this to post to a different line or different account by selecting my account listing. Now on the main setup I did have a default account that had been pre populated.

If I don't have a default account saved on my vendor record, that would be the default the system will fall back on. So we do need an account to help pre populate some of these data on a line level. So with this one, I do have a default saved on my vendor record. So we can quickly just show where that is set up.

So if I open up my vendor file, under the finance tab, I've got a default expense account that's been saved. The system has deviated from that on my bottom line for shipping and coded that to my freight expense account. That's because I have a rule set up and when it meets certain criteria, it knows how to change that posting for me.

If a rule is triggered, it's also linked to that transaction line itself. So we can open that up and see how it's been set up in the background and then why it has applied to my transaction the way it has. So I've given my rule a name. This is my criteria that I wanted to run a search for. So I'm looking for the text of shipping and for my description to contain that.

So only asking for a partial match here. If I wanted to be strict, I would say it has to equal to  this. I can make my rules vendor specific.  I can have them apply to as many different vendors as I would like to select.  Or simply tick a box and say apply to all. Similar goes with subsidiaries. I can make rules subsidiary specific or have it apply to all.

This is telling the system what account I want it to change the posting to. Once it's met this criteria, and we can also predefine some segmentation and we can also pull across additional fields and segments as well in this rule creation. If I wanted to create a new rule to be applicable to this supplier.

The same drop down gives me the option for new  and that's going to give me a blank pop up where I can create those from as well. Upon hitting save, we're also going to keep and attach a PDF under the communications files tab. So for that auditing and archiving purposes, you don't have to manually drag and drop those attachments to this record.

Now we're going to look at processing a purchase order related transaction. So the system has found my PO.  So all I need to do is simply, again, hit the process button. I've still got a split screen view of this transaction. And the system still captured the same header level information. So we're still going to pre populate invoice number.

Invoice date, but where the system is going to then run the three-way match with this transaction is my supplier has referenced a purchase order number on this document and that's given us something to cross check against in your NetSuite environment.  So these are the lines from my purchase order itself.

Now you'll notice I've got a bottom line here that's been greyed out and the quantity is set to zero.  So we do need to bring across all of the receded data that's on the purchase order to keep that true link between the records. However, if something isn't a match and we're not going to be billing it, we will set that quantity to zero.

So it won't be picked up on this invoice. I'll open my three-way matching pop up. Now, on the left hand side here, I've got my purchase order represented. So all of that data on my PO. My item of  receipted quantities are in the middle column  and then the bill lines itself are on the right hand side here.

We've also got some nice status bars up the top. This is going to explain how much of the transaction we've actually matched against each other. If the system finds a true match between the purchase order and the bill lines, you will get a green tick.  So we're also very dynamic with how we're searching for these matches.

We're looking at the item itself, the item code, the vendor code. The description, as well as quantity and amount. And the system will go through like a hierarchy level and see what is going to be the match between the PO line and the bill line itself.  If I'm presented with an orange tick, it means the system has still found a match between those lines, but there's a variant somewhere that the system has detected.

If I hover over these fields, I'm also presented with a little help pop up here that helps explain what each of these areas mean.  So here it's saying the bill line is successfully matched with the purchase order but differences aren't detected. We then highlight to you where those differences are coming from.

With this particular scenario, it's coming from my rate. So my supplier's invoice is referencing $1.48. My purchase order is only $1.40. I've also got a black box or circle surrounding this. It's black because I have some tolerance thresholds allowed in this system. So we still highlight a variance, but the color coding will tell you whether a tolerance is met or exceeded in the system.

If this tolerance was exceeded, it would be presented with a red circle around it instead.  I can also manually pick up any additional fees. So say you've got a delivery fee, freight or some kind of service charge that's added onto your bill, but it's not reflected on your purchase order.  So I can simply tip the little plus icon here  that I want to add this as part of the billing for this transaction.

Now that I've billed this line, we can also see that I've reached 100%.  So now I can simply select submit and we'll go and save this transaction. So now we've saved both my expense example and my purchase order sample. These could also be pushed out on an approvals workflow within NetSuite, or they could simply just be saved as a true vendor bill that would be ready to be picked up in an end of month payment run as well.

Thank you so much for watching. If you would like more information on this product, please visit our website  zoneandco.com. Thank you again.