How does Finmatics process and automate content splits?
In this article, you will learn how Finmatics recognizes different tax rates.
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How are content splits processed?
Finmatics automatically detects different tax rates on invoices and generates suggestions for split bookings based on this identification.
Content splits commonly occur with invoices from business partners such as wholesalers (e.g., Metro, Lekkerland) or in invoices with different tax rates.
Typical use cases include separating:
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Food items from non-food items
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Alcoholic from non-alcoholic beverages
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Deposit-bearing items from non-deposit-bearing items
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Tobacco products from e-cigarettes
Depending on the customer, an invoice may contain anywhere from two to more than fourteen line items, and the complexity of the booking (for example, the number of accounts involved) can vary significantly. Each line item can be posted to a separate account, or multiple items with the same tax rate can be posted to the same account - even if they have different booking texts. Finmatics supports both options.
How are content splits automated?
Since customers post their invoices differently, Finmatics uses an LLM-prompting system. It receives an image of the invoice and instructions which parts of the invoice image are relevant. In addition, it receives specifications for account and tax code assignment.
For each line item, the model provides:
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The gross amount (to determine the tax rate)
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The corresponding account
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An automatically generated booking text, based on the item description
How is my data protected?
Finmatics uses OpenAI models that run on Microsoft Azure infrastructure in the EU. This ensures that:
- our customers' data is never used to train Microsoft or OpenAI AI models
- the data remains within the EEA