Everything you need to know about AutoEntry
February 8, 2019
What is it?
AutoEntry uses Optical Character Recognition (OCR) technology to extract date from sales invoices, purchase invoices and bank statements. It also links to your accounting software so after a review from the user documents can be posted directly into your accounts.
The software is saving our clients hours of processing time every month.
How does it work?
Over the recent months we have seen mostly purchase invoices being processed using AutoEntry. If invoices are emailed as an attachment to the user by suppliers, these can be forwarded directly to the software. If the invoices are on paper, these can be scanned in.
AutoEntry extracts the supplier name, linking it to supplier accounts in your accounting software, gross, VAT and net. From there the user simply needs to do a review of the information extracted, and with one click it can be posted to your accounting software.
How does it save time?
In the past accounts staff have spent a long time pulling information from invoices and manually inputting this onto software. It can be very repetitive and time consuming. As with any new system there can be some time spent “learning the ropes”. We have found that after this initial setup time our clients have decreased the time spent on this significantly.
AutoEntry has a fantastic memory. The first time AutoEntry is used, the user will need to instruct the software what nominal the invoice should be posted to. From then on it will utilise this memory to cut down the “manual intervention”. For instance, if an invoice has been processed from a stationery store and posted to a stationary nominal, AutoEntry will automatically recommend that all future invoices from that supplier can be posted to the same nominal.
If you want any more information on AutoEntry please don’t hesitate to contact the Digital Solutions team here at MHA Chiks on 01772 821 021 and we will be more than happy to show you how AutoEntry can help you spend less time data processing, and more time running your business.