What is invoice verification

what is invoice verification

 Invoice Verification

Use

It is the task of Invoice Verification to check the accuracy of invoices received from vendors with respect to contents, prices, and arithmetic. An important activity involves matching up invoices with purchase orders or goods receipts.

Implementation Considerations

Logistics Invoice Verification is independent of Financial Accounting. This allows you to enter all the data in an original invoice at the location of the logistics system and use a separate system for Financial Accounting.

Logistics Invoice Verification has been especially developed for the requirements of retailers. SAP Retail also comprises a conventional invoice verification component. For technical reasons, however, certain key requirements, such as distributed systems and mass data processing, cannot be implemented in the conventional invoice verification component.

Integration

Invoice Verification uses the data entered previously in the Purchasing and Goods Receipt application areas and passes

on documents created when an invoice is posted to Financial Accounting, Asset Accounting and Cost Accounting.

Features

Invoice Verification tasks include:

  • Entering invoices and credit memos that have been received
  • Checking the accuracy of invoices with respect to contents, prices, and arithmetic
  • Executing the account postings resulting from an invoice
  • Updating certain data in the SAP system (for example, open items and article prices)
  • Checking invoices that were blocked because the details varied too greatly from the purchase order

Invoice Verification does not handle the payment or the analysis of invoices. The information required for these processes is passed on to other departments. When an invoice is posted, the system simply creates open items on the vendor account which are then cleared when Financial Accounting makes payment.

For more information on Logistics Invoice Verification, see MM -

Source: help.sap.com

Category: Insurance

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