Lübeck. GetMyInvoices has added a banking module to its invoice management software with the same name. Users connect their accounts and their credit cards to GetMyInvoices with this module to import transactions. These can then be linked to the associated invoices or receipts. The invoice management software uses intelligent algorithms to make appropriate suggestions, so that the assignment can be made with just a few mouse clicks. Another major benefit is that the banking module points out previously missing online portal or e-mail account connections.
‘With our new banking module, we are once again reducing the time spent on preparatory accounting,’ says Björn Kahle, COO of fino, the provider of GetMyInvoices. ‘The module takes over the automatic assignment of transactions to the associated documents and thus frees the user from this time-consuming manual task.’
The user can decide whether he wants to link GetMyInvoices with his accounts live via online banking or import the transactions manually via CSV or Excel file. Moreover, he can connect his Paypal or Stripe account with GetMyInvoices.
Once the account transactions have been uploaded, GetMyInvoices gets straight to work and suggests the appropriate documents with the help of intelligent algorithms. Among other things, the amounts, the supplier name and the purpose of use are compared. The user then only has to confirm the suggestion or, if necessary, select another document from the alternatives. If in doubt, the user can view the documents using an integrated viewer. If a transaction cannot be assigned, the user can ask the team via the Communications Center or request that the missing document be uploaded.
The filter function included in the banking module provides an additional overview. It displays the transactions in a selected manner, according to those that are already linked or not yet linked, and those that can be ignored. The latter are those for which there are usually no receipts, such as account management fees, tax payments or refunds.
Besides, the banking module helps to avoid missing invoices in the future. Because thanks to the matching of transactions and receipts, GetMyInvoices proactively informs if a connection to an online portal or an email account is missing. Thus, more and more invoices can be automatically linked to transactions, so that the amount of work involved in preparatory accounting is continuously reduced.
Furthermore, the banking module includes a function that allows the user to export the transactions as an Excel spreadsheet, optionally with the linked documents as a ZIP file. “Companies can then provide this to their tax advisor at the end of the month for posting if the latter does not have GetMyInvoices in use,” explains Björn Kahle. “The fact that the invoices are assigned to the transactions eliminates annoying queries as to which document belongs to which account transaction.”