Finmatics supports the formal invoice verification with a variety of automations. Read this article to find out which checks are carried out.
Content
- Which checks does Finmatics carry out?
- Checks included in the standard
- Additional checks
- Customized Validations
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 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.
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 VAT number of the invoice issuer is missing for invoices over €400, a warning is displayed.
Validation of VAT Number - Total Amount
For invoices with purchase references, additional validation against the purchase order's master data is possible.
Upon request, custom validations can be implemented using keywords or the REST API. Please contact our support team at support@finmatics.com.