Automatic coding of balancing amounts  Image
AP Life Hacks

Automatic coding of balancing amounts

Round and round and round we go – we all know rounding errors occur for legitimate reasons, like different number of digits after a decimal or the result of rounding. Yet these minor variations can stop an invoice and order from automatically matching with the poor result of having to manually fix these simple problems. Stop spinning your wheels with automatic coding of balancing configuration which automatically handles these variances based on your own rules. 

Benefits 

  • Available for both PO and Non-PO invoices to handle minor deviations automatically without manual intervention
  • Create a more automated and streamlined process allowing AP to focus efforts on true variances
How to set up the report Image

How to set up the report

How to configure Automatic Coding of balancing amounts 

Setup can be done within minutes and requires you to have the role “Order based AP” or “Expense AP”. Then you configure for:

  • Document type
  • Amount limit
  • Coding
  • Tax Indicator 1
  • Tax Indicator 2
How to set up the report Image

This configuration is applied to an invoice when it leaves the Authorize step and Medius will automatically add the automatically coded balancing line to an invoice before it arrives in Post Control.  

To learn how to setup automatic coding go to our success portal.  

Medius Success Portal

 

Automatic coding of balances - Medius AP Automation

 

Something to think about 

We recommend you align the limits and coding with the settings in your ERP system to avoid inconsistencies

Does this scenario sound familiar? 

Sean works in AP for a multinational high-tech company and spends a lot of time manually managing invoices with minor deviations on both Non-PO and PO invoices. He has noticed these deviations are due to rounding issues rather than actual price or amount differences. Sean wants to change the process so that these small deviations are handled automatically by Medius – he sees no need to stop an invoice for manual handling just because of small rounding deviations.  

So why not investigate setting up automatic coding of balancing to reduce your manual work and increase your operational efficiencies today! 

Contact our support team