- You spend a lot of time managing low dollar invoices.
- Unknown what % of your transactions are under $2,500.
- Unknown what % is that of your total dollars spent.
- For those small purchases.
- Unknown time spent on Invoicing.
- Matching POs.
- Is a manual process.
- Paper based.
- You sometimes pay out of petty cash.
- Unknown how it is reconciled.
- Unknown what is your cost/transaction.
- You give credit cards to employees.
- You cannot control employee spending on an open credit card.
- You cannot prevent unauthorized spending.
- Unknown how you reconcile.
- Unknown cost to company.
- There is a disconnect between who made the purchase, who approved it, and who received it.
- Typically, where is the disconnect.
- There are items that should not be on the statement.
- Unknown how it gets reconciled.
- You manually track merchant data.
- You do not easily have access to tax information.
- Unknown how you generate 1099s.
- It takes long.
- There are errors.
- Unknown how it is reconciled.
- Unknown how you track purchases made with each merchant.
- It takes a long time to assign vendors in your ERM.
- It is a manual process.
- You cannot track it by a transaction basis.
- You have to manage all vendors individually.
- You cannot group them.
- Is a manual process.
- It takes long.
- It is tedious to manage and pay individual vendors.
- Unknown number of vendors you deal with.
- Unknown how many or what % you only deal with once or twice for very small amounts.
- Unknown process for setting up a new vendor in the system.
- Time.
- For paying vendors.
- Time.
- Cost.
- It is difficult to go back and review transaction detail.
- You have to log in and out of different systems.
- It takes much time.
- It is frustrating.
- You sometimes just give up.
- Issues integrating with other systems.
- Unknown how you post transactions to the GL.
- A/P.
- It is a manual process.
- It takes much time.
- It is not error prone.
- They get out of sync.
- Unknown what happens if they do.
- Unknown how you reconcile it.
- Time.
- Cost.
- Your transaction process is paper based.
- You have to manually assign account codes.
- It takes long.
- Card transactions are rejected if information is missing.
- The GL account information is required.
- Vendor information.
- Unknown what happens if rejected.
- Unknown how you fix it.
- It takes much time.
- You cannot set up default cost allocations for cardholders.
- There is delay between the time of the transaction and when it hist the accounting system.
- You have to wait until the end of month.
- Until expenses are filed.
- Unknown impact on your account reconciliation.
- Cash flow.
Time and Cost to Manage and Reconcile Invoices and Payments
Posted by AJ Amjad Khanmohamed March 2, 2017 in Time and Cost to Manage and Reconcile Invoices and Payments 
