Overview of the Purchases Module

The Purchase Invoice module in Acxite helps you record and manage supplier bills with ease. You can create invoices by entering data directly or uploading documents for automatic extraction with Receipt Bot.

You can add invoices through the web application, email inbox, API or Zapier workflow integrations. Once added, Acxite organises the data so you can review it in an organised dashboard.

In this guide, we will walk you through the options available in Acxite for reviewing and managing purchase invoice data.

Data Extracted from Purchase Documents

Acxite captures key information from your purchase documents with the help of Receipt Bot’s data extraction technology. The extracted data fields are divided into two main types:

• Header-Level Data
• Lines-Level Data.

Header-Level Data 

These fields appear once per document, and general information about them is provided. The following are the header-level data extracted from a document: 

– Document Type: It is usually the title of the document indicating the nature of the transaction, e.g., Purchase Invoice, Tax/VAT invoice, Order Confirmation, etc. This identification helps the system accurately extract data and perform the relevant validations. 

– Contact Name: The name of the document issuer, brand name, company website, or contractor name. 

– Document Number: The unique number found to identify a document, like an invoice number, order number, payment reference, etc. 

– Document Date: The document issue date, order placement date, or service date, whichever is available in the document. 

– Due/Payment Date: The payment terms are usually mentioned in the purchase invoices. Based on these terms, the payment due date is calculated. If the document is paid, this field will contain the payment date. 

– Payment Method: The account name used to pay the payable amount. 

– Transaction Currency: The currency of the transaction as identified from the document. 

– Base Currency: The home currency entered when creating a new business in the system. 

– Exchange Rate: The rate at which the transaction currency amounts are converted to the base currency amounts. 

– Record As: This field defines how the transaction should be recorded in your accounting software. For example, if you select bill & payment, the system will create a bill transaction and record a payment against it.  

– Amounts Are: It defines whether the unit price is exclusive or inclusive of the VAT amount. 

Line-Level Data 

These fields appear multiple times within a document, typically in tabular format. The following fields are considered line-level data in the system: 

– Category: The accounting category applied to a transaction based on the item description. 

– Quantity (Qty): The number of units of a product or service purchased, as stated in the invoice. 

– Unit Price: The price per unit of the product or service before applying VAT/GST or other taxes. 

– Description: The details of the item purchased. 

– VAT/GST Rate: The rate at which GST/VAT has been charged on the purchased item. 

– VAT/GST Amount: The amount of VAT/GST as extracted from the document. 

– Net Amount: The total amount less any VAT/GST amount. 

– Gross Amount: The total amount payable as extracted from the document. 

– Net Amount (Base currency): The net amount is converted to the base currency from the transaction currency using the exchange rate of the invoice date. 

– VAT/GST Amount (Base currency): The total VAT/GST amount is converted into the base currency based on the exchange rate. 

– Gross Amount (Base currency): The total amount payable, converted to the base currency based on the exchange rate.

Navigating the Purchase Invoices Page

The Purchase Invoices page in Acxite is designed for you to review and edit extracted data efficiently. It consists of two main tabs:

– Documents Tab: It shows the header-level fields, such as the supplier’s name, invoice date, and invoice number, providing a quick overview of key document details.

– Analysis Tab: It contains header and line-level fields, including item descriptions, quantities, unit prices, and totals. If a document contains multiple line items, each line will be displayed as a separate row in this tab. This structure allows you to efficiently review and edit data at the line level without switching between header and line details or reviewing documents individually.

Actions Available on the Purchase Invoices Page

On the Purchase Invoices page in Acxite, you can manage and organise your invoices using the following options:

– Create Invoice: You can enter invoice details manually. This is useful when you don’t have a file to upload but still need to record a supplier bill.

– Upload Documents: You can upload invoice files directly. Acxite will process them and save you from manual entry.

– Import CSV File: You can bring in multiple invoices at once using a CSV file. This helps when you need to upload data in bulk.

– Edit Invoice: You can update or correct invoice details if something needs to be changed after extraction.

– Archive Invoice: You can move invoices to the archive when they are no longer active, keeping your workspace clean and organised.

– Filter Documents: You can apply filters to quickly find the invoices you are looking for without scrolling through the full list.

– Download PDF/Picture: You can save copies of invoices as PDF or images for record-keeping or sharing.

– Reclassify Invoice: You can change the classification of an invoice if it was placed under the wrong category.

– Transfer Document to Another Business: You can move invoices between business profiles if they were uploaded under the wrong one.

– Download Grid: You can export the entire invoice grid for reporting or offline review.

– Refresh Grid: You can refresh the page to see the latest updates or changes instantly.

– Hide or Remove Columns: You can customise your view by hiding or removing columns you don’t need. This makes it easier to focus only on relevant details.

– Delete Invoice: You can permanently remove an invoice if it is no longer needed or was added by mistake.

For more details, please refer to the following article: Review extracted purchase invoices in Receipt Bot.

Create a Purchase Invoice in Acxite

If you want to create an invoice in Acxite, follow these steps:

Step 1 – Navigate to the Purchase module from your Business Dashboard.

Step 2 – Click on Create Document.

Step 3 – Select the document type. From the drop-down menu, select “Purchase Invoice.”

Step 4 – Under Record As, click the drop-down and select the appropriate option.

Step 5 – Add the Contact Name. You can either select an existing contact from the drop-down menu or create a new one by typing the name and clicking Add Contact.

Step 6 – Enter the Invoice Number and Total Gross Amount.

Step 7 – Choose the VAT Rate. From the drop-down menu, select your preferred option:

• Inclusive of VAT
• Exclusive of VAT
• No VAT

Step 8 – Fill in the Invoice Date and Due Date.

Step 9 – Select the Payment Method from the drop-down menu.

Step 10 – Enter the line-item details:

• Description
• Category
• Quantity
• Unit Price
• Net Amount
• VAT Rate
• VAT Amount
• Gross Amount

The total will automatically appear in the currency set for your transactions.

Step 11 – Click Save. You will then get a preview of the purchase invoice you created.

Step 12 – On the left side of the screen, you will find additional notes, including the file name, the user who created it, and the date of creation.

Data Validations and Processing Notes 

Suppose the Acxite is unable to extract a field. In that case, it results in a validation failure, and the system attaches a processing note to the document, allowing you to identify and perform the necessary fixes quickly. You can find these notes by hovering over the comment icon. 

Following is a list of processing notes that explain a validation failure. 

File Upload Validation Related Notes 

– Image Quality Issues: Image scan quality is not suitable for processing. 

– Country Not Supported: Acxite does not support the documents from a country. (It rarely happens, but some formats are so different that our models cannot handle them.) 

– Language Not Supported: Acxite currently processes English language documents only. 

– Password-protected file: the document is password-protected and, therefore, cannot be processed by the system. 

Missing Data Related Notes 

– Supplier Missing: Supplier name not found in the document. Please update manually. 

– Document Date Missing: The system could not find the document date. Instead, the processing date has been inserted in the document date. 

– Document Number Missing: Document number not found in the document. Therefore, a system-generated number has been inserted in the document reference. 

– Transaction Amount Missing: transaction amount not found in the document. Therefore, the transaction amount was set as zero. 

– VAT Rate Missing: VAT Rate not found in the document. Please check and update as needed. 

– Description Missing: Description not found in the document. Please update as necessary. 

Document Type Related Notes 

– Duplicate Document: Acxite has identified this document as a duplicate of another processed document; please review to delete or record it as a transaction. 

– Unrecognised Document: Acxite could not recognise the document type. 

Other Validation-Related Notes 

– Transaction Amount Zero: The transaction amount appears to be zero. Please check and update if necessary. 

– VAT/GST Rate Mismatch: VAT/GST Rates are different for each line. However, a standard VAT rate has been selected for processing. 

– Unrecognised Receiver: The “invoice to” field does not match the business name. 

Related Article

Overview of the Sales Module 

Frequently Asked Questions