StreamV also allows you to automatically import vendor invoices for expenses or other non-inventory related purchases, and to distribute these invoices to the general ledger. When this method is used, the system completely posts the vendor invoice. The vendor invoice can be saved with or without a hold code. This hold option allows you to make the invoice immediately available for payment processing (no hold code), or to hold the invoice for approval and block payment processing until after the hold has been removed from the invoice.
Importing and Posting Expense Invoices
When expense invoices are created automatically in StreamV, the following information is required by the system.
Vendor information: The vendor name and account number to be used for the accounts payable invoice. This vendor information needs to match the appropriate vendor record that is set up in your system.
AP invoice information: The vendor invoice number, date, amount, payment terms, discount date and amount and other required information for the vendor invoice.
GL distribution information: When an invoice is being automatically imported and posted to the general ledger as an active status invoice, the system requires that the entire amount of the invoice be applied to specific general ledger accounts. One or more general ledger accounts may be required in order to properly distribute a single vendor invoice.
If an expense invoice is being processed and the invoice should be distributed to only one gl account, the import program can be set up to use the default GL distribution account that can be set up and maintained in the Vendor record.
If an expense invoice is being processed and the invoice should be distributed to multiple general ledger accounts and or departments, the import file needs to specify the department, general ledger account, sub account and the amount to be used for each distribution line. The account and sub account specified for each line must match a valid record in your GL Account Description file, and the account must be set up for posting in the department, year and period being used for each invoice. The GL distrbution details for each invoice also must also match the invoice totals.
The accounts payable account to be used for the invoice does not need to be specified in the import program as this control account is specified in the Vendor record. If no AP control account is specified in the Vendor record, the system uses the default control account.