What data does AutoEntry capture/extract?
AutoEntry captures data from the following documents:
Purchase Invoices/Bills and Receipts
Purchase Credit Notes
Sales Credit Notes
Expenses - reimbursable expenses for expense reports
*Including credit/debit card statements and PayPal statements.
For invoices, we know capturing just the totals isn't good enough. That's why AutoEntry captures tax summaries, or if you prefer, full line item details. AutoEntry will capture the sub-totals of net, tax and total amounts, at each tax rate for each supplier invoice by default. If you request line item capture, it will capture the description, unit price and quantity for each line as well. It verifies the accuracy of the data using arithmetic validation rules so that it will never let you post any invoices into your accounts software that are not correct.
This means that you can easily assign each portion or line to its appropriate nominal and tax code and assign tracking categories, job codes, departments, costs centres etc. as necessary.
For bank and credit/debit card statements AutoEntry captures the date, description, debit and credit values and cheque numbers and using the statement opening balance keeps a calculated balance. The closing balances are then checked against the closing balance of the statements to verify the accuracy of the extraction.
For more information on AutoEntry's bank statement extraction process, please click here.