Strong accounting processes, support’s Kaunt’s pattern recognition
Strong accounting processes, support’s Kaunt’s pattern recognition
If you want to increase the number of invoices processed by Kaunt and make it easier for Kaunt to find a pattern, you can work on optimizing different elements in your internal processes. By optimizing within certain areas, the potential for processing can increase. It’s important to remember that Kaunt’s performance is based on pattern recognition. So, if you make changes, Kaunt may need a little time to adjust to the new patterns.
Some of the key ways in which your processes can be optimized are:
- A simple chart of accounts
- Content on the invoices
- Following the OIOUBL-standard (if you are a Danish company)
- Consistent accounting
- Avoiding forwarding invoices between areas
Simplify your chart of accounts
If you have a simple chart of accounts, you ensure a stronger foundation for Kaunt’s pattern recognition. For public organizations, we recommend you follow the authorized chart of accounts, without too many other customizations. For private companies, we recommend a simple structure and following the guidelines that apply to your organization.
In your chart of accounts, it makes sense to review cost centers and categories, and make sure that these are as simple as possible within the available framework. As a public organization, it’s an advantage with numerous GLN-numbers and less cost center elements.
How you should simplify or restructure your chart of accounts depends on your current structure and how it makes sense for your organization. If it’s difficult to reduce the cost centers and categories in your organization, we recommend that you work on optimizing the content on your invoices.
Kaunt can assist you with a professional analysis of your chart of account, and provide guidelines on how to simply and/or optimize them. Read more about how we can help here.
Content on the invoices
The information on the invoice has a huge impact on Kaunt’s ability to find a pattern. It’s very important that the invoice contains the correct information. If suppliers repeatedly add incorrect information or omit information, we recommend you contact the supplier and ask them to add the necessary information.
Good information to add are the header, contact information, and invoice recipient.
Some of the most important areas of information are:
- The department of the expenditure
- The recipient being listed, especially if there are multiple cost centers sharing an area
- Being specific as to if the same recipient is listed in different cost centers. You can, for example, add a specification in the header .
Another example where Kaunt has a hard time finding the pattern is when an external voucher is needed. For example, when a receipt has to be presented with the invoice.
Follow the OIOUBL-standard
If you follow the standards dictated by OIOUBL, you’ll make it easier for Kaunt to find a pattern. At a minimum, make sure that debitor, creditor, good(s), amount and header information (invoice number and date of issue) are included. Additional basic details such as recipient, order ID, addresses, etc., will also contribute to pattern recognition. We recommend you add these, as well.
Be consistent in your accounting
Kaunt learns from your historical behavior. That’s why it’s important that you are consistent in your accounting. If you are not consistent, this creates confusion and the potential number of invoices Kaunt is able to process will decrease. Consistency is one of the most important factors in pattern recognition. You can learn more about how Kaunt finds a pattern here.
Avoid forwarding between areas
If your internal processes are to forward an invoice with the incorrect GLN-number or area code, this has a negative effect on the pattern recognition. It’s important that you don’t just forward, but instead contact the supplier and ask them to identify and correct the information. This gives you with the opportunity to stay consistent and not confuse the robot.