Transaction Matching to Keep Your Business Running Smoothly
Two, Three, or Four Way Automated Matching
Smyyth provides transaction matching services for any size operation. The matching of invoices to purchase orders and receiving documents are crucial steps that accounts payable needs to make before processing a vendor invoice for payment.
By utilizing Carixa’s Matching Engine, one-to-one, one-to-many, or many-to-many relationships can be matched and reconciled almost effortlessly. The system is rules-based and easily configurable by our team at Smyyth, allowing all of the processes to run by your rules and tolerances and to eliminate secondary, offline work.
Transaction Matching For Purchasing and Accounts Payable Audit and Payables Processing
Our transaction matching services at Smyyth will automatically match and examine for variances::
1. Receiving Documents
2. Purchase Orders
3. Invoices and debit memos
4. Other control documents. Use transaction matching to eliminate any manual spreadsheet-dependent processes that are prone to human error.
High-volume receiving departments have product coming in from hundreds or thousands of purchase orders and suppliers. Simultaneously, invoices and receiving documents need to be matched as to SKU, quantity, and price, and occasionally even down to serial or control numbers. If debit or credit variances occur, they must be initiated before the relevant invoice is paid. With Smyyth’s transaction matching software, your company will have a smoothly automated transaction matching process that brings your operation’s efficiency to the next level.
You Determine the Rules and Tolerances
When you work with Smyyth, you determine the rules and tolerances. For example:
1. Quantity received ≥ Invoice ≤ Purchase Order
3. Invoice price ≤ Purchase Order
4. Quantity accepted ≥ Invoice
5. Discount tolerances
6. Serial or Control numbers match
7. Freight charge tolerances
Using our unique Carixa technology, we can perform and automate this labor-intensive and error-prone operation, reconciling between receiving documents, purchase orders, and invoices. The system can validate a transaction for payment; initiate a variance report for a debit memo for a shortage, pricing or compliance error; initiate a variance report for a credit memo for an overage, or initiate a document for customer reconciliation.
Some other advantages allow you to:
- Keep your inventory straight
- Avoid overpaying for products not received or pricing overcharges
- Complete matching transactions within 24 hours
- Process payables promptly for better supplier relations
Get Your Business in Order Today
Are you interested in more information on what Smyyth’s transaction matching services can do for your business operation, or need more information about our account reconciliation process? Feel free to contact us with any questions today.