Smart-wizard for dimensional coding of invoices

New feature that makes life easier for those who do the GL coding of supplier invoices in Next® Invoices.

Many companies today use a dimensional chart of accounts. Instead of each cost center, location, territory, product family, project, or vehicle or whatever item you want to report on, gets its own set of accounts in the primary chart of accounts, you have only one set of accounts in the chart of accounts.  Each of them with one or  more dimensions. 


A dimensional Chart of Account is way more compact and easier to work with

     

As a CFO your goal is of course to secure that each transaction is coded correctly. Allocated to the correct account, and with the proper dimensional codes set. To facilitate this, Next® has for ages provided instant search and validation of account numbers, and the dimensional codes. And made it even easier, with the use of Personalized Charts of Accounts, where you only get to see the accounts that are relevant to you.

Now we take this guidance one step further. Many ERP systems have the ability to map valid combinations of account numbers and dimensional codes.

  • Product family 1010, 1020, and 1020 are valid on product related revenue and cost accounts.
  • Country codes 010, 020, 030 etc. are valid for project related accounts.
  • Vehicle license numbers are valid on accounts with costs related to cars, vans, and trucks  

Now Next® Invoices is able to make good use of this information, and help the person coding invoices better.


Example

The following screen shot shows the enhanced feature.


With "Intangible Fixed Assets", only 2 values are valid for the "Type" dimension


Selecting "Vehicle Fleet" opens up for many more options for the Type dimension 


The smart-wizard makes life easier for the person coding the actual invoices. It saves time and increases data quality. 

In the end - this also saves time for the Finance team and the CFO. 


Future enhancements

In a soon to come release of Next® invoices you will also see Automatic suggestions for coding of invoices, making the process even smarter. 

Additional information

Please refer to the online product guide for additional information on this feature, once it is released.

Commercial terms and conditions

This new feature is available at no additional cost, to users with an active service plan. Any consultancy assistance will be invoiced.

Disclaimer

Despite our best efforts, we may be forced to change both content and expected delivery of future product updates without notice.  


Details

Title:

Smart-wizard for dimensional coding of invoices

Type:

New feature

Status:

Released

Release time:

February 2021

Affected products:

Next® Invoices

Audience:

Business users
Next® Admins
Next® Specialists

Classification:

Public

Responsible product manager:

Jørn Christensen

Updated:

01.03.2021

By:

Jørn Christensen