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What checks can Finmatics perform on invoices?

Finmatics supports the formal invoice verification with a variety of automations. Read this article to find out which checks are carried out.




Which checks does Finmatics carry out?

A distinction can be made here between checks that are activated by default and those that can be activated manually if required.

Checks included in the standard

Duplicate check 

Possible duplicates are detected based on the characteristics of invoice number, creditor, and amount. For more information, read: How are Duplicates identified by Finmatics?.

Invoice Issuing Date

The invoice issuing date (invoice date) is a mandatory field. If the invoice date is significantly in the past (>180 days), a warning is displayed.

Invoice Number

The invoice number is recognized by Finmatics AI and is a mandatory field. Invoices without an invoice number cannot be confirmed.

Validation of the VAT number

VAT numbers are compared with the creditor's master data for each transaction. Additionally, a check for the validity of the VAT number can be configured using the VAT Information Exchange System (VIES). If you would like to have the check set, please contact our support at support@finmatics.com.

Amounts and Tax Rates 

Amounts and tax rates are recognized by Finmatics AI and are mandatory fields. Invoices without matching amounts and tax rates cannot be confirmed.

Business partner has not yet been posted

If a business partner has not yet been booked, a message appears on the invoice. Next, check the business partner for correctness.

Invalid characters

If invalid characters such as "?" or "ß" have been recognised, this can affect the verification of the invoice. A warning will appear on the invoice, allowing you to correct the entry.

Additional checks

All the checks listed below can be activated on request. If you cannot find one of the settings, please contact us at support@finmatics.com.

Name and address of the invoice recipient and issuer

Finmatics compares master data with the data on the invoice. If differences are identified during this check, Finmatics provides a warning.

To prevent errors, alternative spellings (e.g., Finmatics GmbH or Finmatics GesmbH) and alternative addresses can be allowed and configured.

This function is applicable to invoices with or without purchase references.

Service Period

If the service period is not specified, you will receive a corresponding warning.

VIES Check

A check of the validity of the VAT number can be configured via the VAT Information Exchange System (VIES).

Checking the VAT number of the invoice issuer

If the VAT number of the invoice issuer is missing for invoices over €400, a warning is displayed.

Validation of VAT Number - Total Amount

A warning is issued in case of a missing VAT identification number of the service recipient and for invoices with a total amount exceeding EUR 10,000, including VAT, or when the tax liability shifts to the service recipient.

Special Checks for Invoices with Purchase References

For invoices with purchase references, additional validation against the purchase order's master data is possible.

Customized Validations

Upon request, custom validations can be implemented using keywords or the REST API. Please contact our support team at support@finmatics.com.