Invoice Processing Overview

PAYscan streamlines the payables process and reduces costs by converting paper invoices into efficient electronic invoice images. Using PAYscan and an image scanner you can convert stacks of paper invoices into batches of electronic invoice images. Your vendors can email you invoices in Portable Document Format (PDF) as email attachments that can be imported into PAYscan.

Following custom approval workflows, PAYscan routes electronic invoices to management staff for review and approval. After final approval, invoice registers are posted to payable batches and approved payables are available to be paid via electronic funds transfer (EFT) or check.

You may be wondering what an invoice register is and how it relates to invoices and payables. An invoice is a list of goods shipped or services rendered, by a vendor to a buyer, and states the sum of money due. An invoice register is an electronic invoice that moves through the approval workflow. A payable is an approved invoice register that has been posted to a payable batch and can be paid via check or EFT.

The following diagram shows the relationship between invoices, invoice registers, and payables:

Invoice register records do not affect the G/L until they are posted to a payable batch.

The concept of an invoice register enables the flexibility to: 1) Save invoice register records with partially entered data. 2) Do data entry as a separate task. 3) Go through the approval workflow before creating payables.