Electronic exchange of primary accounting documents in the cosmetics store chain

Electronic exchange of primary accounting documents

Since the counterparties work with different Electronic Document Exchange operators, the client connected to several exchange services at once. Because of the high volume of document traffic in each area and the specifics of processing primary accounting documents, a serious overhaul of the entire process was required.

«Our company was already running an electronic document flow with some commodity vendors. But since the Electronic Document Exchange operator is obliged to store only receipts and protocols, but not the digital document itself, the primary task for us was to organize an electronic archive.

It was also important to digitize the document verification process, guarantee easy access to the documents from the accounting system, and provide multi-operator support».

Head of the software department in the client company.

Prerequisites for optimizing the processing of primary accounting documents:

1. Necessity to work with several exchange services;
2. The lack of a unified electronic financial archive of documents;
3. Labor intencity of processing incoming documents;
4. Need for a convenient approval tool;
5. Focus on centralization of the company's business systems.

Stage 2: Primary accounting documents of the basic products

Objetives:

1. Transfer completely into electronic format the work with commodity primary accounting documents that accompany the process of ordering and accepting goods.
2. Organize the storage of received files in a single financial archive.

Documents on commodity transactions related to direct activity - the purchase of products for subsequent sale - are usually of the same type and their number is large. The processes for checking and processing such primary accounting documents have been clearly established for a long time.

How it works

1. A purchase order is sent through the EDI system. The supplier completes it and sends it, and the client company receives a shipment notice with a full list of product information (size, weight, name, quantity, etc.).
2. After acceptance of goods, the client company’s employee sends the supplier a notification of acceptance with information on the actually received goods, this helps to generate a correct invoice. On the basis of this notification, a draft posting is created in the accounting system.
3. After receiving notification of goods acceptance, the supplier creates a universal transfer document, which is sent to the company client through the exchange service.
4. Received universal transfer document is automatically loaded into the system. The data of the universal transfer document is checked against the draft entry in the accounting system by the order number:
   • the amount of the order;
   • the sums of VAT;
   • GLN (international code used in electronic data exchange and e-commerce systems).
5. If the reconciliation was successful, the system automatically signs the documents with the approver's qualified electronic signature (depending on the counterparty).
6. After the document is signed, a posting is automatically created in the accounting system, and then the universal transfer document is sent to the supplier through the exchange service.
7. If a document was not found in the accounting system or discrepancies were identified, Axirum instantly generates a task for an accountant with the result of the reconciliation. After the discrepancies are resolved, a copy is sent for reconciliation or a rejection is issued. The counterparty receives a response through the exchange service.

If the project entries in the accounting system and the universal transfer document were compiled correctly, the process from the moment the document is received in the exchange service to sending a signed copy to the counterparty goes without human intervention.

Project results

A single financial archive, organized in Axirum system, securely stores information in accordance with access rights, while supporting work with both formalized and informalized documents. In addition, there are special scenarios of preparation for tax and audit checks: financial reports of the organization are formed in a few clicks, and the documents are unloaded in accordance with the requirements of regulatory bodies.

Due to the digitalization of the process of registering and sending universal transfer document to the counterparty, the costs of delivering, checking and signing documents have been significantly reduced. The facts of sending, receiving and returning are strictly controlled.

«Our retail chain accepts more than 3,000 documents a week.

One of the advantages of the project is that we were able to optimize transportation costs for document delivery, the goods acceptance procedure became faster, the number of errors in working with primary accounting documents decreased, and the cost of the payroll was reduced».

Head of the software department in the client company.

The implementation of Axirum Intellectual Services has accelerated document processing in the accounting department and freed up a few hours a day for more important tasks. At the same time, the completeness of data extraction from accounts payable is 90%, and the classification of details is 95%, which is 15-20% higher than the planned indicators.

«The AI services relieved employees from approving documents on paper. Now all heads of the financial centers perform these operations in the system, including remotely. Labor costs for routine work have decreased significantly».

Head of the software department in the client company.