Finofo FAQs - everything you need to know

Do I need to connect my ERP to start using Finofo?

No. Finofo works with or without an ERP. You can ingest documents, match, approve, pay, and reconcile right out of the box. When you’re ready, you can integrate your ERP and post clean, coded invoices in one click.

How does Finofo handle POs and receipts if they’re not in my ERP?

Finofo doesn’t depend on your ERP for source documents. It ingests POs, invoices, packing slips, and GRNs from email, text, drag & drop, and matches them at the line level using AI, not sync schedules.

Does Finofo support 2-way and 3-way matching?

Yes. Instantly and accurately. Finofo runs instant, AI-powered 2-way and 3-way matching. The AI builds a document set even if there are multiple Invoices and GRNs under one PO. It aggregates line item level info for 2-way and 3-way matching. Line items are matched by SKU, quantity, UoM, and price. Exceptions are flagged smartly respecting your vendor-specific tolerance policies.

Can I process AP documents without templates or manual tagging?

Yes. Finofo’s AI identifies and classifies documents automatically—invoice, PO, or GRN—then extracts every field and line item with 99% accuracy. No templates, no rules, no manual tagging needed.

Can Finofo manage Non-PO invoices?

Yes. You can create and approve Non-PO invoices directly inside Finofo, just like regular invoices, with full coding and audit history.

Does Finofo support invoice approval workflows?

Yes. Build approval policies with multi-level routing, role-based rules, and group logic—no IT setup required.

How does Finofo integrate with my existing processes?

Finofo plugs into your email, shared drives, and ERP. You can start lightweight and deepen integrations later.

How fast can I get started?

You can go live in hours. There’s no field mapping, no complex configurations, and no IT setup needed. Just connect your inbox or upload documents and let Finofo do the rest.

Does Finofo support line-level coding and segmentation?

Yes. Finofo’s AI auto-codes every invoice line with the correct GL account, department, location, cost center, and subsidiary. You get ERP-ready data without manual work or spreadsheet clean-up.

What happens if there are mismatches or missing documents?

Finofo flags only the exceptions that exceed your set tolerance thresholds. You’ll see a clear, line-level summary with context so you can resolve confidently or close out with one click.

Can I bulk-approve and pay multiple invoices at once?

Yes. You can group invoices, apply your approval workflows in bulk, and execute payments across vendors in a single click.

Do we need to use Finofo-issued cards?

No. Finofo supports Bring Your Own Bank Card workflows, so your team can use existing company-issued corporate cards.

Can employees submit receipts by text or email?

Yes. Employees can submit receipts by text, email, or simple drag & dropI.

Does Finofo support employee reimbursements?

Yes. Personal card and out-of-pocket expenses can be approved and turned into payables inside Finofo’s AP workflow.

How does Finofo reconcile corporate card expenses?

Finofo matches receipts to card transactions using merchant, amount, currency, and date. Statement data can be pulled directly from the bank or card provider, or uploaded when a direct connection is not used. Strong matches can link automatically, while lower-confidence matches are sent for review.

What happens when a receipt is missing?

The user can complete a lost receipt declaration. For corporate card expenses, the matching statement transaction serves as proof of purchase. For reimbursable expenses, the user can attach supporting proof.

Can approvers review individual expenses?

Yes. Approvers can review individual expenses, approve in bulk, send reports back, or reject specific items with context.

Can finance control GL coding before accounting system sync?

Yes. Finance reviews GL accounts, dimensions, categories, tax codes, and supporting receipts before the expense posts downstream.

How are reimbursements paid?

Approved reimbursable expenses can be paid through Finofo’s payment rails, batched into payment runs, paid individually, or marked as paid externally.

Does Finofo integrate with accounting systems?

Yes. Finofo supports accounting system sync paths for reimbursable expenses and corporate card expenses.

Can users create POs in Finofo?

Yes. Users can create purchase orders directly in Finofo using approved vendors, products, services, saved offerings, and contracted rates.

Can Finofo use POs from another system?

Yes. If your team already creates POs elsewhere, those POs can be brought into Finofo and used for invoice matching.

Does Finofo support approvals before a PO is created?

Yes. Spend requests can be routed for approval before a purchase order is created or sent to a vendor.

Can Finofo send POs to vendors?

Yes. Approved POs can be sent to vendors directly from Finofo.

What does receiving mean in Finofo?

Receiving means confirming what was received or completed against a PO before the invoice is matched. This can support partial receiving and service confirmation.

Does Finofo support 2-way and 3-way matching?

Yes. Finofo can match invoice lines to PO lines, and where receipt or receiving confirmation is used, include that receiving context in the match.

What happens when an invoice does not match the PO?

Finofo flags the exception and routes it through the right review path before approval, posting, or payment.

Can tolerance rules be configured?

Yes. Matching rules and tolerances can be configured by vendor, entity, category, or workflow need.

Is Finofo an inventory management system?

No. Finofo does not manage warehouse stock, bin locations, landed cost, or inventory valuation. It is built for spend control and PO matching inside the finance workflow.

Can users comment directly on invoices?

Yes. Users can comment directly on invoices and keep the conversation attached to the document.

Can comments be tied to line items or exceptions?

Yes. Comments can be connected to specific line items, coding fields, match issues, or exceptions.

Can we tag approvers?

Yes. Users can @mention approvers or teammates to bring them into the right document context.

Does Finofo replace email approvals?

Finofo reduces the need for email-based approval follow-up by keeping questions, decisions, and approvals inside the AP workflow.

Is there an audit trail?

Yes. Finofo tracks comments, edits, approvals, rejections, mentions, and status changes in the document timeline.

Can approvers ask questions before approving?

Yes. Approvers can ask questions, review context, and respond before approving or sending an invoice back.

What makes this better than Slack or email?

Slack and email can answer the question, but they separate the answer from the invoice. Finofo keeps the question, answer, approval, and document history together.

Does Finofo support both contracts and blanket POs?

Yes. Finofo tracks both. Contracts link directly to invoices. Blanket POs link to child POs, which then connect to invoices.

Can we track spend against a contract value?

Yes. Finofo tracks total value, invoiced amount, remaining value, utilization, and invoice count.

How does blanket PO spend tracking work?

Finofo tracks committed spend from linked child POs and invoiced spend from invoices tied to those POs.

Can Finofo remind us about renewals?

Yes. You can track renewal dates, cancellation deadlines, review dates, and reminder timing.

Can invoices be checked against expected contract amounts?

Yes. Finofo can compare linked invoices against expected per-period amounts and flag variance.

Do contracts and blanket POs need to be in the ERP first?

No. Finofo can track them inside the AP workflow and sync clean invoice data back when ready.

Can we apply supplier credits to invoices?

Yes. Apply a credit from the invoice detail view with an amount and credit note reference.

Can credits be removed later?

Yes. Credits are reversible, with audit history. If removal changes the outstanding amount, Finofo shows the impact.

What happens when credits plus payments equal the invoice total?

The invoice can move to paid because the outstanding balance reaches zero.

Can suppliers receive remittance detail?

Yes. Payment notifications include a remittance PDF with prior payments, credits, this payment, and remaining balance.

Can we download a statement for one invoice?

Yes. Finofo can generate a live invoice statement showing the current settlement state.

How does this help with vendor statement reconciliation?

Finofo helps AP verify vendor claims against internal invoice, credit, and payment history before chasing balances.

Who can set up approval policies?

Admins and owners on Finofo can set up approval policies for payments, currency conversions, deposits and transfers. Define rules, assign approver groups, and let the system handle the rest. Once set, approvals follow an automated workflow with no manual follow-ups required.

Are approvals automated? Will approvers get requests automatically?

Absolutely. The moment a transaction needs approval, the assigned approvers get notified instantly. They can review, approve, or decline requests with full visibility into timestamps, notes, and approval history. No delays, no guesswork—just a smooth, automated process.

How many approval levels, or approvers groups can I create? Are the approver groups customisable?

As many as you need. Whether it’s a simple one-step approval or a multi-level workflow, Finofo adapts to your policies. Need CFO approval for high-value transactions? Want department heads to sign off first? Set it once, and let Finofo enforce it every time.

How will approvals work with bulk payments?

Exactly like single transactions—but better. When you submit a batch for payment, Finofo automatically applies your approval policies to the entire batch. The full batch goes through the approval process, ensuring the right stakeholders review and sign off before execution.

Does the conversion really work 24x7 all year round?

Yes. You can convert funds between your accounts anytime—24/7, all year round. With support for 25+ currencies, you have complete flexibility to move funds whenever it suits your business.

Are there really NO fees for currency conversions from Finofo?

That’s right. There are no fees when converting funds between your currency accounts on Finofo. Move money freely without hidden charges or unexpected costs.

How can I manage multiple entities under the same corporate umbrella?

Finofo makes it easy to onboard all your entities under one unified platform. Manage global finance operations across multiple businesses with a single login—no need to juggle multiple accounts or platforms.

We have businesses across North America and send intercompany transfers often. How can we manage our treasury with Finofo?

With Finofo, you can manage all your entities in one place and move funds across them in real time. Transfer money in any currency, anytime, without wire fees or transfer fees. Every intercompany transfer happens instantly, saving you time and money while keeping cash flow optimized.

Where can I set up local accounts for customer payments?

Finofo provides local accounts in a wide range of countries and currencies, ready to use as soon as you sign up. There’s no need to set up a local entity - just share your local account details with your customers and receive payments as if you were based in their country.

How can we receive funds from international customers?

Open a local account in the currency you want to receive payments in. Share the account details with your customers, and they can send funds directly - no forced conversions, no unnecessary delays. Hold the funds in your account as long as you need before making payments or transfers.

Are there no incoming fees?

That’s right—Finofo does not charge incoming fees for receiving payments in supported currencies.

How do I transfer and withdraw funds from Finofo?

Transferring or withdrawing funds is simple. Set up the external accounts you want to send funds to, move money when needed, and even apply approval policies for added security.

How does Finofo's pricing work?

Finofo keeps pricing predictable. Obtain an instant personalized pricing estimate at our pricing page. Our pricing is dependent on the features you want and your scale estimated via invoice volume, number of users, and entities.

What counts as a unique user and entity?

Anyone with login access who can view, approve, or process invoices is a unique user. They can be assigned to as many entities as you need but will only be counted once for billing purposes. A unique entity is a legal entity with its own suppliers, bank accounts, or general ledger. inside ERP

How do you measure invoices per month?

The average monthly invoices processed through the platform across all entities.

Can the pricing handle very high volumes?

Yes. For volumes above the upper slider limits, the plan can be extended. The estimator can still be used as a reference point.

Does Finofo offer non-profit pricing, startup discounts, or special rates?

Yes, we’re always open to supporting good causes and promising startups. Tell us more about your organization and how you plan to use our platform, and we’ll explore special pricing or tailored solutions to best support your goals.

What does Finofo Insights show?

It shows pipeline health, spend analytics, DPO, cash flow, exceptions, spend trends, and custom views.

Can users drill into the source data?

Yes. Insights should connect metrics back to the invoices, vendors, payments, or exceptions behind them.

Can we create custom dashboard views?

Yes. Teams can create and save views based on the workflows and metrics they care about.

Does Insights help with month-end close?

Yes. It helps teams see stuck invoices, unresolved exceptions, upcoming payments, and spend trends before close.

Can executives use it without working in AP every day?

Yes. CFOs and controllers can use higher-level views for cash, spend, exceptions, and workflow health.

Does Insights replace ERP reporting?

No. It gives live operational visibility inside AP, while ERP reporting remains the accounting system of record.

Your AP process has a cost.
Let's find it.

Benchmark My AP Process

Finofo’s Benefits

Quicker reconciliation

Eliminate wire fee

Fixed FX spread

Start automating your finance operations today

Getting started

Configuration

Onboarding

Implementation

Plug in your ERP and Go.
No Custom Work.
No Consultants. No Kidding.

No ERP bottlenecks. No manual lag. No missing context.
Just fast, flexible AP automation that works anywhere you do.

More tools to power your financial operations

More tools to power your financial operations

Designed with security and compliance at the forefront

Finofo FAQs - everything you need to know

Finofo FAQs - everything you need to know

Your AP process has a cost.Let's find it.

Benchmark My AP Process

Finofo’s Benefits

Quicker reconciliation

Eliminate wire fee

Fixed FX spread

Start automating your finance operations today

Getting started

Configuration

Onboarding

Implementation

Plug in your ERP and Go. No Custom Work. No Consultants. No Kidding.

No ERP bottlenecks. No manual lag. No missing context.Just fast, flexible AP automation that works anywhere you do.

More tools to power your financial operations

More tools to power your financial operations

Designed with security and compliance at the forefront

Finofo FAQs - everything you need to know

Finofo FAQs - everything you need to know

Ingest, classify, match and approve invoices automatically.

Your AP process has a cost.
Let's find it.

Plug in your ERP and Go.
No Custom Work.
No Consultants. No Kidding.

No ERP bottlenecks. No manual lag. No missing context.
Just fast, flexible AP automation that works anywhere you do.