NetSuite invoice capture software, specifically NetSuite Bill Capture, allows you to easily send vendor invoices to NetSuite by email or dragging and dropping them. The software uses advanced technology like AI and machine learning for document object detection and optical character recognition (OCR).
This means it scans the invoices and automatically fills in the necessary information in NetSuite, making the process quick and accurate. The system learns from previous invoices to enhance accuracy over time.
Additionally, it automatically matches bills with corresponding purchase orders and receives documents to ensure all details are correct. Let’s learn more about NetSuite Bill Capture in this comprehensive blog.
Five Simple Steps to Create Vendor Bills
NetSuite Bill Capture streamlines the process of capturing vendor bills, offering a swift and efficient solution enhanced by artificial intelligence (AI) technology. This innovative system accelerates bill processing and continually refines its performance through user corrections, progressively improving suggestions and automating payables workflows.
To create vendor bills seamlessly, follow these straightforward five steps:
- Save your vendor bill in one of the approved file formats, including PDF, JPEG, and PNG.
- Navigate to Transactions > Payables > Scanned Vendor Bills within the NetSuite platform.
- Upload the vendor bill directly on the Scanned Vendor Bills page.
- Review the bill to ensure accuracy and make any necessary adjustments.
- Once verified and adjusted, click [Create Bill] to complete the process efficiently.
When you incorporate bill capture NetSuite into your workflow, you not only save time but also benefit from a dynamic AI system that learns and adapts, optimizing your payables processes over time. Experience the future of automated bill processing with NetSuite’s advanced technology.
NetSuite Bill Capture Benefits
NetSuite Bill Capture offers fantastic advantages that make your work easier and more efficient. One of the key benefits is that it helps to minimize mistakes and save time. Say goodbye to the days of manually entering data and dealing with the monotony of coding invoices. With NetSuite Bill Capture, you can speed up the whole process of handling vendor invoices.
Imagine a world where you don’t have to spend time typing in information or sorting through invoices. That’s precisely what NetSuite Bill Capture brings to the table. It takes care of those repetitive tasks, freeing up your time for more important things.
Another great feature is the quick and easy matching capability. No more headaches trying to ensure that invoices match up with purchase orders (POs) and receiving documents. NetSuite Bill Capture does it automatically for you. This means you can trust that the prices, quantities, and totals are accurate without double-checking everything manually.
NetSuite Bill Capture is like having a helpful assistant who takes care of the details, allowing you to focus on the bigger picture. It’s a tool that reduces errors and boosts productivity, making your work life smoother and more enjoyable.
Prerequisites for Bill Capture
Bill Capture Module
- Bill Capture can be purchased as part of the AP Automation module or as a standalone module.
- Email capability is delivered through the Transaction Email Capture SuiteApp.
SuiteApp Installation
- The Transaction Email Capture SuiteApp must be provisioned and installed before using email capture.
Preferences Setup
- Set Bill Capture preferences.
Feature Enablement
- Enable necessary features in NetSuite by going to Set Up > Company > Enable Features.
Permissions
- Set permissions at Setup > Users/Roles > User Management > Manage Roles.
- Permissions include full access to Lists (Documents and Files, Scanned Vendor Bills) and Transactions (Bills).
Roles
- Default roles like Administrator, A/P Clerk, CFO, and CEO include necessary permissions.
Optional Settings
- Enable the Allow Expenses on Purchases preference for the PO Number column visibility.
- Configure Multiple Vendors feature if applicable.
- Enable Per-Line Departments and Classes if needed.
- Optionally link expense lines to POs.
- Set up Duplicate Record Detection and Number Warnings.
PDF Display
- Ensure PDF file display is enabled in your browser settings for the Review Scanned Bill page.
NetSuite Bill Capture Features
NetSuite Bill Capture has powerful features that can significantly streamline your invoice processing.
Let’s take a closer look at these key functionalities:
Invoice Scanning
With NetSuite Bill Capture, you can have your vendors send invoices directly to NetSuite via email. Alternatively, your team can quickly email or drag and drop invoices into the system.
The magic happens with the help of advanced AI and machine learning-based document object detection and OCR technology. This eliminates the tedious task of manual data entry and ensures accuracy. Vendor names, PO numbers, items ordered, quantity, and pricing are automatically extracted and populated in the billing record.
The system continually learns from previous entries, improving accuracy over time. The split-screen, side-by-side view of the invoice and the vendor bill makes it a breeze for AP staff to review and verify details.
PO Matching
NetSuite Bill Capture takes the headache out of matching invoices with associated purchase orders and receiving documents. Whether it’s a two- or three-way matching process, the system automatically verifies crucial details such as unit pricing, quantity, and totals. This ensures that your records are not only accurate but also saves you from the manual effort of cross-referencing each element.
Approval Routing
Integrating SuiteApprovals with NetSuite Bill Capture opens up a world of efficient bill approval processes. Bills can be seamlessly routed to the right individuals for review and approval.
The beauty lies in the flexibility to tailor workflows to meet your company’s specific requirements, reporting structure, and approval hierarchy. Automated reminders and a mobile-optimized app enhance the experience, saving time and resources by eliminating the need for AP staff to track approvers.
How Much Does NetSuite Bill Capture Cost?
What is the cost of using NetSuite for your business? When you sign up for NetSuite, you pay an annual fee. This fee includes three main things: the basic platform, extra modules you might want, and the number of people using it.
There’s also a one-time setup fee when you first start. You can easily add more features and users as your business grows because NetSuite is a cloud-based software. It is important to familiarize yourself with the various NetSuite licenses available.
Conclusion
NetSuite Bill Capture is genuinely a game-changer when it comes to invoice processing! Its AI-powered automation takes the hassle out of the equation, saving you time and reducing errors. This fantastic system uses advanced OCR technology to extract and populate invoice details, continuously learning and improving accuracy.
And that’s not all – features like automatic PO matching and approval routing boost efficiency while the flexible pricing model grows with your business. NetSuite Bill Capture isn’t just a tool; it’s a transformative solution that takes your accounts payable workflow to the next level. So if you’re not already using it, your business should definitely consider utilizing it.
