The quality of master data for business partners has a major impact on the automation of document processing. A high quality in the master data supports:
- The correct assignment of the business partner in the invoice.
- The correct reading of the document fields
- The correct account assignment (G/L account assignment)
Prerequisite
Which fields must be filled in the master data to ensure high quality. In principle, one of the values listed below is sufficient to correctly assign a master data record and to correctly read the document fields. However, if all values are correctly maintained, the quality increases many times over.
For incoming invoices
- the UID
- the IBAN
- the name of the supplier and the street, postal code, city and country of the address (these values in the master data must exactly match those on the invoice)
For outgoing invoices
- the UID
- the name of the supplier and the street, postal code, city and country of the address (these values in the master data must exactly match those on the invoice)
Procedure
How can you now proceed to find those master data where the quality does not match.
- Request the master data report for your clients at support@finmatics.com.
- This provides you with the following information:
- Handle only the "unassigned" and "incorrectly assigned" business partners.
- Compare the values in your master data for completeness and correctness compared to the invoices.