Meet the Upgrade: Smarter Handling of Currency Mismatches Between Invoices and POs
Have you ever found yourself caught up in the tangle of invoice processing, just because the currency on your invoice didn’t match the purchase order (PO)? If your answer is yes, you’re not alone—and there’s good news ahead! The latest enhancement to the Accounts Payable Operations product is here to save the day, making life easier for everyone handling multi-currency transactions.
Why Was This a Problem?
Let’s rewind a bit. In the past, if you had PO mapping switched off and the currency on your invoice didn’t match the PO, your invoice would get stuck in a “pending approval” state. Not only did these slow things down, but it also blocked the system from automatically applying the correct exchange rates from the PO to your invoice. In short: more work, more waiting, and more chance for errors to slip through.
What’s Changed?
With this new update, the magic happens much earlier in the process. Now, even if PO mapping is disabled, the system spots currency mismatches right away. Instead of sending the invoice off to purgatory, it simply flags the mismatch as an exception and keeps the invoice in draft.
How Does This Help?
- Speedier exception handling: Issues are flagged and can be resolved before they cause delays.
- Less manual effort: AP specialists can address mismatches directly, without unnecessary workflow roadblocks.
- Better data accuracy: Cost allocation data is preserved, making sure your numbers stay clean and clear.
- Clearer audit trails: Every exception is tracked, so you always know what happened, when, and why.
- Resilience in complex environments: Perfect for organizations working across multiple currencies and regions.
Want to Learn More?
Curious about the finer details? Check out the currency mismatch documentation for a deeper dive. And if you have questions or need support, don’t hesitate to reach out to the product or documentation team.
Check out the full release notes to learn more about the new features and enhancements.
Here’s to smoother, smarter, and more transparent invoice processing!
