Before you start processing your Non PO invoices, you will need to set up your account so that you will be able to apply the correct GL Accounts and Payment Terms for your invoices. The good news is there are only 3 main areas to set up.
We suggest that you run through each step first to create one GL Segment, GL Account, and Payment Term prior to entering all of each type in one swoop. Having onboarded many customers just like you we have seen that by doing one, you can better define each of these items so you don't end up needing to do rework later on.
In this section we will discuss:
- Setting up GL Account Segments
- Setting up GL Accounts
- Setting up Payment Terms
- Setting up Approval Groups
Step 1: Setting up GL Account Segments
We realize that every company is different and what data needs to be in your GL code can be very specific in order to allow these invoices to move seamlessly through the payment and attribution processes. GL Segments are most often based on endpoints and sites, however you may have other codes like city, department, tax code that need to also play into your code. We allow you to create up to 10 custom segments that are then required when you enter your actual GL accounts.
Step 2: Setting up GL Accounts
GL Accounts should map your invoices in SourceDay to your accounting general ledger rules in your ERP. GL Accounts are set up against your Integration Site. They will contain any custom fields that you created as part of the skeleton in step one. These are the GL codes that you and your accountants will choose from for each invoice.
Step 3: Setting up Payment Terms
Payment terms help inform your ERP when the bill needs to be paid, there are the standard net 30 days, however, with SourceDay you can also add in discount periods as well as choose for your invoices to come due based on specific days (it's due before the 15th) or period of time (it's due 30 days after invoice). These are the terms that you and your accountants will choose when you are editing and submitting your invoices to your ERP. Customers usually find it easiest to add these as the scenarios come up versus trying to add all the variations at once. Also make sure your descriptions are descriptive so that at a glance someone can see the subtleties of a specific term code.
Step 4: Setting up Approval Groups
Non PO back invoices will need an approval before they are eligible to voucher through SourceDay. Users can set up various approval groups, approval chains, or even set themselves up as an approver if needed.
That's it! Now you're ready to move onto the next section: Deciding on How to Get Non PO Invoices into SourceDay
Included in This Series
- Getting Started with Invoice Automation Non PO Invoices - Overview
- Setting Up GL Segments, GL Accounts, Payment Terms, & Approval Groups - You are here
- Deciding on How to Get Non PO Invoices into SourceDay
- Processing Your First Non PO Invoice
- Approving Your First Non PO Invoice
Spotlighting New Functionality
- Non PO functionality is currently available for Syteline, Epicor (Cloud/OnPrem), Netsuite, Visual (Standard and Global Financials)
- Other ERPs will be added over time