Using MYOB AccountRight for your account-keeping? The new smart bills feature aims to turn reduce your data entry load from invoices.
MYOB introduced its smart bills feature last year as part of MYOB Essentials, but it will be added to MYOB AccountRight - at no extra charge - later this month.
Smart bills is a time-saving capability that processes an invoice - either a PDF document or a paper document that's been scanned or photographed paper - so that a corresponding record in the business's accounts can be created quickly and easily. The digitised document is then stored in the cloud and linked to the transaction.
If for some reason the bill has already been entered manually, the document can still be linked to the transaction, eliminating the need to store the paper version.
Another advantage is that if the supplier ABN is not already in your accounts, it will be read from the supplier invoice, validated against the ATO service and automatically added to the supplier details, explained MYOB SME solutions general manager James Scollay.
"This allows future bills from that supplier to be automatically matched. This unique feature to AccountRight, provides multiple compliance benefits such as ABN validation, and the electronic storage of source documents. In other words, AccountRight users no longer have to keep paper files."