Recognizing Expenses

Baltzar is:
Simple – User-friendly process to receive and approve invoices
Accessible - can be accessed from anywere
Controlled - easily tracks invoices throughout the entire process

The process of Recognizing Expenses with Baltzar

1. Invoice Arrives at Accounting Department

Arrival and Scanning
Supplier invoices arrive in either electronic form in any one of several standard formats (e.g., Svefaktura). Alternatively, the invoices may be scanned by your company or a computer services bureau upon arrival. If a services bureau is used, the invoices are sent directly to them for scanning, interpretation and image verification. The invoice details and image is then transferred to Baltzar. Paper invoices and EDI invoices are processed in exactly the same way in the authorization system, but of course initial recording of the invoice is much simpler if it arrives in electronic form.

2. Invoice is Distributed for Review and Approval

You can set up in advance the accounts for each supplier and/or the process flow for invoice approval. Coding can be done by all users in this process. When approval is required from more than one user, you can set up parallel flows and thus shorten the throughput time.

Baltzar supports accrual accounting by enabling you to allocate amounts to the proper period. If your system supports this function, then the information is then transferred to your ERP. With Baltzar, you can also set amount limits. For example, invoices that exceed a specified amount may require approval from more than one individual in the organization. It is also possible for an individual with signing approval to refer a specific invoice to their superior.

Attachments and Comments

You can also attach documents to the invoice. Such items might include the text from a contract, your own notes, or an additional file/document that was received by your company after the invoice had been scanned. You also have the option of entering additional text, such as special instructions to the system administrator or other individuals responsible for processing the invoice. Use the Inquiry function to schedule invoices for you to review later or for someone else to review.

Assigning Access Privileges

You can assign temporary access privileges when necessary, e.g., when the person who is normally in charge of a certain process becomes ill or is on leave. Amount limits can also be set for each individual user. All such changes are made or defined in a separate authorization system.

Queries and reports
Queries and reports can be requested and filtered based on virtually all data fields or combined data fields in the database. For example, besides creating any number of standard reports, you can also export specific data for making your own reports in Excel.

Baltzar Contract
With Baltzar Contract, you can easily compare supplier invoices with the terms in the original contracts that were previously scanned when the relationship became established. The user has easy access to all supplier contracts can monitor the important terms of the contract, such as expiration date, etc. It is also possible to classify any or all invoices from a particular supplier as 'confidential.' By doing so, only those individuals who are authorized may view certain details of the actual invoice.

3. Invoice is Returned to Accounting Department

Once the invoice has been reviewed and payment has been approved, it is returned to the accounting department where it is recorded and scheduled for payment in the company's ERP system.