The difference between a registration and a booked invoice
Kaunt can address an invoice in three different ways:
- The invoice is simply scanned and nothing else happens
- The invoice is registered and sent for employee approval
- The invoice is fully booked and ready for payment
All invoices in your financial system are being scanned by Kaunt. This allows Kaunt to be able to work with invoices and deliver data. Kaunt also scans invoices in closed areas, but doesn’t do anything more with them.
Read more about closed and open areas here.
Registered – with employee approval
When a registration is created, Kaunt assigns the information from the invoice to an account and the information is registered in the internal accounting system. Kaunt will let you know that this invoice is waiting for employee approval. Once approved, the invoice is ready for payment and booked.
Booked – without employee approval
When Kaunt books an invoice, the initial steps are the same. The invoice is scanned and a registration is created. All information is registered in the internal accounting system, then invoices are automatically forwarded for payment. No manual approval from an employee is needed.
Booked or registered – does Kaunt differentiate in its accuracy?
For Kaunt to make a registration or book an invoice, it needs to identify a pattern based on your historical data and behavior. Kaunt uses the same algorithm and looks at the same pattern whether an invoice is registered or booked. The accuracy of Kaunt is the same, whether you use employee approval or not.
When are the different processes used?
Whether Kaunt scans, registers or books depends on your settings. You can adjust your settings to cover all areas or you can make specific settings for the individual area, read more about that here.
In the case of invoices open for Kaunt to process, you must choose whether Kaunt should make a registration or book the invoice. This is done by setting amount limits. If you set your amount limit to 0, Kaunt will not book any invoices, but it will make registrations. If the amount limit is set at 2,000, Kaunt will book all invoices below 2,000 and make a registration for all invoices above 2,000. You can also select suppliers where only registrations are made, or where invoices are booked.
Read more about amount limits and selected suppliers here.
How to see what is entered into accounts and what is recorded
If you want to create a statement on what has been registered and what has been booked, this is available in “insights and statements”. Learn more about insights here.
If you go to approval type within insights, you can sort the invoices by registrations (needing employee approval) or booked invoices (not needing employee approval). In the drop down menu on the right, you can narrow your search based on time. If you want more precise data on an area level or based on a VAT number, you can also sort by these categories.