There are various account payable solutions for you to implement in your business to ensure that everything is processed smoothly. However, cases such as duplicate invoices and payments are unavoidable due to the sheer amount that a business may have to process. It is important to know how to deal with them to prevent them from affecting the business.
Below are some strategies that you can implement in your business to prevent duplicate invoices and payments from becoming a big issue.
Have an Archive
Although it may increase the overhead due to the needed storage, it is critical for a business to have an archive. You can use account payable solutions to make it easier for your business to maintain the information and keep them archived. The records that you have to keep should include the most vital aspects of your business including, but not limited to:
Supplier and supply data
Invoice master files
When there is an archive that can be accessed anytime, the issue of duplicate invoices and payments are easily found out. Any damaging effects of these issues could be addressed early on. You will also have the confidence with the information that you have since you know that everything from the point that you begin storing them is recorded.
Maintain Consistency With the Workflow
Duplicate invoices and payments become more common when a business changes systems. Whether you update to a new software or merge departments that have a similar purpose, it is important to maintain the workflow that you previously had. When there is a need for the workflow to be updated, it should be as seamless as possible.
Keeping track of the changes to the workflow is important as well because it lets you know why, if any, errors were made. There should be a seminar conducted before any changes in the workflow along with several tests to ensure that all employees in charge of the record keeping know how to adapt to the proposed changes.
Use Software to Detect Duplicates
At the end of the day, eyes get tired especially if a pair of them constantly have to look at numbers throughout the week. However, software isn’t subject to exhaustion as long as the machine that is running it is maintained properly. With the use of software, you are able to check for any duplicates. Any duplicates that crack through will certainly be fewer and easily spotted.
You can use the fresh batch of eyes to look at other things which would make those employees even more productive. They could work towards making all invoices be routed to one central database for easy storage among other things. A company that has been in business for at least 10 years should look towards modernizing any old archives that they have.
Paper data should be converted to electronic data as soon as possible to ensure the smooth flow of information to the account payable solutions and software used.
Solve your duplicate invoice woes with tried and tested account payable solutions from Nexus Systems. Don’t take our word for it, get a free demo today!