How It Works
Use the first table to match your processes to Finofo workflows, and the second to confirm the setup decisions each one depends on.
Supported Workflows
- PO-backed invoices: Purchase order, goods receipt and invoice matched line by line with 3-Way Matching or 2-Way Matching, with tolerances per vendor.
- Non-PO invoices: Invoice Only matching for bills such as utilities and subscriptions, with full coding, approval and audit history.
- Contract spend: Contracts with value, utilization, key dates and renewals, with invoices and purchase orders linked.
- Corporate card expenses: Receipts matched to card transactions and statements on the cards you already use.
- Reimbursements: Out-of-pocket and mileage claims approved and paid in a batch.
- Payments: Batches released in Finofo Payments, or cheque, bank, card and vendor credit payments recorded against bills while payments continue from your existing system.
- Posting: Approved bills and expenses posted to your ERP, automatically or by a person.
- Vendor reconciliation: Vendor and card statements reconciled line by line.
What to Check Before Rollout
Each check below shows why it matters, followed by where to find it.
- File formats: Upload documents accepts PDF, JPEG, JPG and PNG up to 25 MB, and emailed documents need a PDF or image attached. Ask vendors to send PDFs.
+ > Upload documents. - Organizations: Each organization is its own space, with its own email address, text number, settings and duplicate checks. Decide how many you need before inviting vendors.
Organization switcher. - Approval scope: Approval policies route invoices and expenses. Purchase order sign-off follows your approval setup.
Settings > Approval Workflows. - Posting: Choose whether final approval posts to your ERP automatically or a person posts each bill.
Settings > Documents. - Coding: Coding uses the accounts, classes, locations and tax rates imported from your ERP. Account is required on invoices and expenses, and tax rate on invoices.
Settings > Integrations. - Payments: Decide whether to pay through Finofo Payments or keep your existing payment process.
Batch payments. - Stock: Finofo matches purchasing and receiving in each item's base unit. Stock levels and inventory valuation stay in your accounting system.
Products & services.
Tips
- Pilot one workflow with a small group of vendors before rolling out the rest.
- Write down your setup decisions so new team members understand why each setting is chosen.
Frequently Asked Questions
Can we start with only one workflow?
Yes. Each workflow works on its own. Many teams start with invoice approval and posting.
Do purchase orders have to come from Finofo?
No. Purchase orders created elsewhere can be uploaded and used for invoice matching.
