Learn about Redwood and be one of the first to join the conversation

Visit Redwood Community
What are the best practices on Payables Multi-period accounting (MPA) and Accruals? — Cloud Customer Connect
You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

What are the best practices on Payables Multi-period accounting (MPA) and Accruals?

Received Response
22
Views
3
Comments

Summary:

Business background: The client is a banking sector client. We are trying to implement touchless invoice processing. Almost all purchases are multi-period. All invoices have a backing PO.

Problem statement: When invoices are processed via Invoice Data Recognition (IDR, Invoice Imaging), they don't have the inputs on multi-period accrual and recognition parameters which must be entered manually, leading to increase in invoice processing time.

Need recommendations/ best practices along:

  1. How to implement MPA when using IDR.
  2. How are accruals recognized in such a scenario.

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!