AvidXchange

SEPTEMBER 1, 2017

Invoices must be manually created, printed, and mailed; then you wait for the customer to open the envelope, enter the invoice into his or her own system, process the invoice, print a check, and mail it to your company; then your staff has to open the envelope, deposit the check, and match the payment to the outstanding invoice.

Billing 52

Billing Deposits Invoicing Computation 52

AvidXchange

JULY 21, 2018

In 2017, 3.3 According to AFP, over the past decade, fraud risk for checks has spiked—rising from 60% in 2013 to 78% in 2017. After information is electronically extracted from the invoice, it goes through your pre-determined approval process. After the invoice is approved, payments are disbursed. from last year.

AP 40

AP Billing Invoicing General Ledger 40

AvidXchange

AUGUST 23, 2017

This is important, especially for year-end, because the AP department is tasked with accounting for every single invoice for the calendar year and ensuring they are entered correctly into the accounting system. I used to have piles of invoices sitting around that I would have to account for and accrue in a spreadsheet.

AP 40

AP Accruals Accounts Payable Accounts Payable 40