Published: June 1, 2010
This user guide provides an overview of features and functionality in the Pims Invoice Verification module.
The Invoice Verification module is a tool used to ensure that all invoices are correct before approval for payment in the Corporate A/P system - both in terms of values and coding. The module helps avoid incorrect payments and allows the project team to flag discrepancies at an early stage in the process - thereby being proactive with regard to any disagreements or outstanding issues.
In order to ensure a project is delivered at expected cost, it is essential that the project manager and controls team have full overview of all costs charged to the project and that the information is coded consistently with the project estimates.
The Invoice Verification Module enables cost personnel to view all costs charged to the project - even if it has not been circulated through the Finance Department. It also provides reconciliation reports and the capability to easily reconcile processed invoices with imported invoices/charges.
The Invoice Verification Module provides the ability to verify information on incoming invoices against various key controls.
The system allows building of standardized checklists for your project team to use when verifying invoices. The invoiced amounts will be compared to the committed values on the corresponding contract. This ensures that invoices undergo a rigorous check before being paid, avoids incorrect payments and allows the project team to flag disagreements and work with the vendor to resolve outstanding issues.