Turn on Automatic Line Item Extraction and Receipt Bank will extract each of the individual purchases that are listed on your receipts, bills and invoices.
Note: Contact your Account Development Consultant to activate Automatic Line Item Extraction. Automatic Line Item Extraction is available for accountants and bookkeepers on our Streamline and Optimize plans. Find out more about the different Receipt Bank products here.
You won’t have to manually split your documents out into line items, Receipt Bank will automatically list the total, tax and description of every line on your financial documents.
Click on these headings or scroll down the page to learn more about:
- How to turn on Automatic Line Item Extraction
- What kind of documents can be extracted?
- What happens during extraction?
- Where can I find details of the extracted line items?
- Who can turn on Automatic Line Item Extraction?
- Does Automatic Line Item Extraction cost extra?
How to turn on Automatic Line Item Extraction
Automatic Line Item Extraction can be turned on for each of your suppliers. You can do this from:
1. The ’Suppliers’ page
2. A supplier’s profile in the ‘Suppliers’ page
3. In the ‘Set Supplier Rules’ window in the Item Details page.
After you’ve turned it on, every future document issued from that supplier will be sent for Automatic Line Item Extraction. Find the line items listed in the Item Details page.
What kind of documents can be extracted?
Receipt Bank can extract Line Items from the following types of Costs documents:
- Credit Note
- Delivery Note
Receipt Bank cannot extract Line Items from Statement/Remittance advice or Sales Invoices. In these cases, we’ll extract the document normally without Line Item Extraction. You can find the item in the Inbox with a note saying that the item type is not supported. You won’t be charged for this.
What happens during extraction?
Receipt Bank will flag all documents from that specific supplier and add them to a Line Item Extraction queue. After we’ve read and extracted all of the data from the document, you can find it in the Inbox of the Costs workspace. Receipt Bank extract the following information from each line on the document:
- total value
- tax value (but not tax codes or tax rates)
If parts of the document were blurry or unreadable we may leave some fields blank.
Where can I find details of the Line Items?
Look at the bottom of the Item Details page to find your extracted line items. Edit any of the information from there.
Who can turn on Line Item Extraction?
Any administrator on the account can activate Line Item Extraction. This could be an employee in the business, or an accountant or bookkeeper who has access to the business’s Receipt Bank account.
Does Automatic Line Item Extraction cost extra?
Automatic Line Item Extraction is a paid feature and incurs an additional charge for each document that’s processed. Speak to your Account Development Consultant for details on pricing. You can see how many documents have been sent through Automatic Line Item Extraction in the usage page of your account.