What is Verify for QuickBooks Online?
QuickBooks Online is a simple-to-use, cloud-based finance system designed to make accounting easy for small businesses.
User-friendly but advanced enough to meet the needs of small businesses, QuickBooks is ideal for many SMEs. But, like all software designed for smaller businesses, it has its limitations when business growth brings about an increase in supplier invoices. More time ends up being spent just on processing invoices, distributing them around the office for approval and ensuring the data has been entered correctly in QuickBooks.
This is where Verify can help.
Verify is a cloud-based automated invoice processing system that helps make invoice processing easy.
The invoice processing system intelligently captures the header and line items from your supplier invoices, automatically matches to the relevant purchase order/s and routes any exceptions for approval. Other (non-order) invoices, are pre-coded, amended if required and approved via fully flexible routing, and are subsequently automatically posted to QuickBooks.
Verify gives you the confidence that the data posted to your finance system is approved, correct and ready for payment. The system allows you to maintain control throughout the process, knowing exactly where each invoice is and where it has been. Plus, Verify has flexible reporting capabilities, allowing you to create customisable accounts payable reports that are suitable for your specific business requirements.
Don’t just take our word for it…
How does Verify Compare to Existing QuickBooks Online Functionality?
1
Identify duplicates and potential duplicates.
QuickBooks With Verify
QuickBooks Standalone
2
Automatically notify and remind approvers that they have an invoice to action.
QuickBooks With Verify
QuickBooks Standalone
3
No need to print or email invoices for processing.
QuickBooks With Verify
QuickBooks Standalone
4
Image automatically saved against the transaction.
QuickBooks With Verify
QuickBooks Standalone
5
Full audit trail of approvals and processing.
QuickBooks With Verify
QuickBooks Standalone
6
Automated posting of header and line-item data to QuickBooks.
QuickBooks With Verify
QuickBooks Standalone
7
View invoice no matter where it is in the process.
QuickBooks With Verify
QuickBooks Standalone
8
Immediate visibility of invoice after it is received/scanned.
QuickBooks With Verify
QuickBooks Standalone
9
Auto-posting of purchase order invoices if they match.
QuickBooks With Verify
QuickBooks Standalone
10
Multi-level approvals.
QuickBooks With Verify
QuickBooks Standalone
11
Customisable invoice routing.
QuickBooks With Verify
QuickBooks Standalone
Functionality
QuickBooks with Verify
QuickBooks Standalone
Identify duplicates and potential duplicates.
Automatically notify and remind approvers that they have an invoice to action.
No need to print or email invoices for processing.
Image automatically saved against the transaction.
Full audit trail of approvals and processing.
Automated posting of header and line-item data to QuickBooks.
View invoice no matter where it is in the process.
Immediate visibility of invoice after it is received/scanned.
Auto-posting of purchase order invoices if they match.
Multi-level approvals.
Customisable invoice routing.
Harness the power of Accounts Payable Automation
Discover how Agilico’s Verify software can support you on your journey towards digital transformation.
How does Verify for QuickBooks Online work?
The process begins when an emailed invoice arrives into the system. Verify intelligently captures relevant header and line item data from each invoice, including supplier name, invoice number, invoice date, PO number, net, VAT and gross. All submitted invoices show up instantly in the system, no more waiting for hours and hours for them to appear.
This saves you and your employees a significant amount of time typing invoice data directly into QuickBooks and ensures the data posted to your system is correct. Verify removes the need to print out your invoices or email them around the business for processing.
Verify will also identify if an invoice is a duplicate or a potential duplicate, where it may have either the same invoice value in a similar date range or the same invoice number with a different value or date. This reduces your chances of making duplicate payments, saving you both time and money and the tricky task of trying to claw the money back.
If there is a relevant purchase order for an invoice, Verify will automatically post fully matched invoices, enabling straight-through processing. This means your staff no longer need to manually match invoices to POs, saving them time.
Verify allows you to have up to three levels of value-based approvals and unlimited approval routes. The system allows flexible invoice routing by department, nominal, supplier, project, etc. or custom routes created and designed by you.
In this way, Verify is designed to fit your specific business processes and allows you to control exactly who can take action on an invoice. Additionally, if a colleague leaves, moves departments, or if you have any new starters, it is easy to update the user responsible for different tasks. Verify allows unlimited users as standard, so everyone who needs to be on the system can be.
A common error a lot of businesses make is accidentally coding invoices to the incorrect area, causing accidental overspending on budgets. Verify makes coding more visible, all staff can see exactly what codes have been selected and which areas of the business they apply to. This means that invoices can be sent back if the coding is incorrect before committing to QuickBooks. This reduces errors and overspending on values posted to incorrect budgets.
Remote and hybrid working brings new ways of processing invoices. If your business previously printed out invoices and left them on colleagues’ desks for approval, there would now be a delay if that person was out of the office. Switching to emailing invoices may reduce the time to view invoices, but it is also less controlled. Likewise, for businesses with multiple offices spread across the UK and even the world, posting invoices to these locations consumes time and could result in invoices being paid late.
With Verify, however, the relevant employees get their invoices for approval instantly. Verify is cloud-based with access via web browser, meaning anyone with a computer, laptop or even mobile phone can approve their invoices from anywhere at any time. When an employee has actions to take on an invoice, an email is sent out, with automated reminders for those slower to respond. This means your invoices are ready for payment sooner, reducing late payments, and ensuring only the correct employees approve their own invoices.
Once an invoice has been fully coded and approved it is automatically posted to QuickBooks. This means you no longer have to spend your valuable time manually typing in invoice data into your system.
Verify allows you to see all the steps on an invoice’s journey, from the point of receiving the invoice into the system, getting it coded and approved, through to posting. You can even see who has simply looked at an invoice. This means you can maintain control over your finances, and it comes in handy at year-end.
Every finance function needs a strong and easy-to-use reporting functionality to help you to stay in control of your finances. Verify’s reporting tool allows you to create a variety of reports to suit your needs.
Verify’s users have created reports that help them understand how much they owe to each supplier that month, reports that show how much they have spent against certain departments, projects, cost centres, etc., and even a report that helps them with payment practices reporting. Some users also find it useful for seeing exactly where each invoice is in the process, and can also prompt other Verify users to finish processing some invoices so they are ready for payment before month-end.
Verify comes with completely free set-up and training. We also provide system support from 9-5.30 Monday-Friday as well as installations after hours if required. Verify is regularly updated, all updates to Verify are free and occur after hours, so you will never have any downtime. We always make you aware of any upcoming enchancements so you can prepare in advance.
Verify Customer Stories
Watch the Online Verify Demo
Harness the power of Accounts Payable Automation
Discover how Agilico’s Verify can support you on your journey towards digital transformation.