Vendor Invoice Reconciliations in SAP

Why is the BEST Vendor Recons module better than any other product for vendor invoice reconciliations in SAP?

• Multiple methods of loading vendor statement data and formats into BEST SAP is available (inc excel, EDI, iDOC, paper or PDF).

• All original statement documents, whatever the format, can be stored in SAP using the SAP Content Server. Important as allows the original statement to be viewed from SAP, by reconciliation approvers, auditors etc. No manual filing & helps to take your AP function paperless.

• Perform reconciliations at a Company Code level, or for many Company Codes, or at a lower level such as segment, profit centre, business area, house bank, region etc.

• BEST Matches
– To your invoice automation or VIM (Vendor Invoice Management) product such as Esker, ReadSoft or Open Text.
–  Up the procurement chain in SAP to:
Open and cleared SAP vendor postings (Inc invoices, credit notes, payments, discounts, rebates, down-payments or retentions etc)
Parked items in SAP
Held items in SAP
The GR/IR accounts – i.e. to goods receipts where invoice not yet been received.
Open purchase orders in SAP

• Balance the reconciliation to the proposed future payment i.e. the system can determine future possible payments for each vendor. Not calculated by BEST but rather balances to the actual SAP payment (or payment proposal).
– Use the vendor reconciliation to validate the payment to ensure accuracy.
– Send the vendor reconciliation to the vendor automatically from BEST.

• Approve Vendor reconciliations directly in SAP
– No printing reconciliations to sign on them – save printing, paper and filing.
– SAP system audit trail of reconciliation approvals (and rejections) by user, date, time & with comments.
– On final approval, a snapshot of the reconciliation is taken to allow for future queries by auditors etc. No more printing & filing of reconciliations.

• Standard SAP vendor open item reports (transaction FBL1N) show add-on matching and reconciliation indicators. Useful to see reconciliation information on the same standard SAP transaction screen.

• Same SAP system. Users do not need to login to different systems, it’s all in SAP.

• Same SAP authorisations and security controls.

• Same SAP transport and control procedures.

• No interfaces or duplication of data outside SAP.

• Matching up the procurement chain as described above to VIM, parked, held, GR/IR, Open PO’s.

• BEST applies search-engine type matching algorithms to cater for:
– Spaces or leading zeroes.
– Special characters such as slashes, dots etc.
– Considering alphabetical or only numerical characters.
– Considering certain strings, prefixes or suffixes.

• BEST has dozens of matching types & will match not only on invoice number but also to PO number, delivery note number, SAP financial document numbers, assignment allocation numbers, item text, cheque numbers, reference keys, etc. Where no automatic match can be performed with certainty, BEST will suggest matches – for example based on similar values.

• Focus is developing, implementing & supporting SAP add-on products

• Provide cost effective & realisable benefits to companies that run SAP

• Comprised of experienced product designers & developers, as well as product implementation & support specialists

• Devoted to implementing, supporting & continually improving our SAP add-on products

• Most extensive number of BEST Vendor Recons client reference sites where BEST has been instrumental in transforming the vendor function.

• Product, implementation & support is of the highest quality.

Visit our website for more info on why BEST is BEST for vendor invoice reconciliations in SAP.