AP Essentials
for
e-conomic
Reseller and Solution Provider
Automatically capture, understand, validate, and approve invoices from any source
Kofax AP Essentials™ lowers costs and shortens processing times by automating the capture and validation of invoices from any source, in any format. A dedicated cloud operations team ensures optimal performance with around-the-clock monitoring and effortless handling of significant changes in document volumes. Market-leading Cognitive Capture services increase data accuracy and reduce the risk of error. Pre-built dashboard guides robust analytics, and continuous feedback helps improve the invoice process. AP Essentials requires no hardware or software, so no tedious maintenance, upgrades, or updates.
E-conomic is a flexible accounting program that can directly integrate into AP Essentials. E-conomic integration supports invoice posting, credit note posting, general-ledger invoice handling, project-invoice handling, payment-type handling, automatic coding suggestions, organization mapping, master-data synchronization, and currency exchange rates.
E-conomic Integration Key Features:
Invoice and Credit Note Posting
General ledger and project invoices are supported. You can specify whether or not an invoice is a credit note using a special field during verification.
Payment-Type Handling
The E-conomic integration can determine the supplier payment type from the information printed on the invoice. AP Essentials uses the supplier reference and invoice reference to set the payment type when posting the invoice in E-conomic.
Master-data synchronization
The E- integration synchronizes master data between E-conomic and AP Essentials. E-conomic imports suppliers, charts of account, currencies, VAT codes, departments, projects, cost types, and employees, so they are available for selection when performing account coding in AP Essentials. Departments and cost types E-conomic blocks are not imported and do not appear for selection.
Organization mapping
E-conomic companies are mapped to customers in AP Essentials.
General-Ledger and Project Invoice Handling
Standard invoices coded using a chart of accounts are General, and invoices coded using projects are Project invoices. AP Essentials supports project numbers and employee fields. AP Essentials supports standard entry information such as department, entry text, and VAT accounts. AP Essentials also supports distribution for project invoices when E-conomic does not.
Project-invoice handling
AP Essentials supports project numbers, employee fields, and standard entry information such as department, entry text, and VAT accounts. Kofax AP Essentials also supports distribution for project invoices when E-conomic does not.
Currency exchange rates
When invoices in foreign currencies are posted, AP Essentials posts the currency and the exchange rate. This feature may access and use database information
(© European Central Bank) for currency exchange rates. The information may be obtained free of charge through the ECB website.
