Become an expert at resolving invoice discrepancies in iCompleat

Invoice discrepancies disrupt the flow of your accounts payables process and create frustrating delays.

Whether it’s due to date entry errors, mismatches between purchase orders and invoices, tax rounding differences or incorrect tax calculations, discrepancies need to be identified and corrected quickly.

Our line-level validation tool lets you resolve discrepancies with ease, keeping your business running smoothly and your financial records accurate and up-to date.

In this guide, you will learn:

• How to identify and resolve invoice discrepancies using the line validation review screen.
• About common scenarios such as data entry errors, purchase order mismatches and incorrect tax calculations.
• Best practices to ensure accurate and compliant invoice processing.

Access the line-level validation tool

If a line-level validation error occurs, it's highlighted in a clickable pink banner at the top of the invoice summary page. Specific totals with errors are indicated by a clickable warning triangle next to the incorrect amounts, guiding you directly to the tool.

6 common discrepancy scenarios and how to handle them 

In this section, we outline six common scenarios that result in discrepancies on invoices, and we explain the action you can take in iCompleat to correct the discrepancies and process the invoice.

 

Scenario 1: Data entry errors

Data entry errors can include mistyping of amounts or incorrect quantities that can lead to discrepancies that need to be corrected.

Before you take any action, click the line item highlighted with a discrepancy on the line-level validation window, and review the details against the original invoice

Then, take one of the following actions:

 

Option 1: Edit the invoice information

1. Make any necessary corrections. This can include adjusting amounts or correcting typos that are causing validation errors.
2. Click Save to ensure your changes are applied to the invoice, and that it is ready for further processing.
3. Review the invoice to ensure you're happy with the changes you've made and that the discrepancy is resolved.

 

Option 2: Use the line-level validation tool

If the discrepancy is specifically related to invoice totals, you can use the Auto-Correct option from the line-level validation review tool.

Here's how you do it:

1. Click the pink warning banner or a pink warning triangle in the invoice header.
2. The line level validation review tool opens.
   Click Auto Correct.
3. Next to the line item you want to adjust, click Use.
4. iCompleat adjusts the discrepancy, and a notification appears in the bottom-right confirming the adjustment.
5. Click Save to ensure your changes are applied to the invoice, and that it is ready for further processing.
6. Review the invoice to ensure you're happy with the changes you've made and that the discrepancy is resolved.

Scenario 2: Mismatches between purchase orders and invoices

Mismatches occur when the details on the invoice do not match the details on the purchase order. This includes incorrect quantities, price discrepancies, or missing line items that require adjustments.

 

1. Open the invoice and review it against the original purchase order displayed on the screen.
2. Adjust the quantities, prices, or item descriptions to match the purchase order.

   If you make adjustments that impact the total amount on the invoice, ensure that the changes are approved according to your organization’s approval workflow.

3. In the invoice Notes section, document the reason for changes to maintain an accurate audit trail.

Scenario 3: Incorrect tax calculations

Incorrect tax calculations often stem from applying an incorrect tax rate or misclassifying taxable line items.

Click the invoice and navigate to the incorrect line item to review the tax discrepancy. Compare the tax rate and the amount against your organization tax guidelines.

Then, take one of the following options:

 

Option 1: Correct tax rates or amounts

1. Adjust the tax rate or amount if it does not match your expected calculation.
2. Save your adjustments and review the invoice again to confirm that the discrepancy is resolved.

 

Option 2: Use the line-level validation tool

If the issue involves mismatched Tax values between the header and the line levels, click the pink banner or a pink warning triangle, and then:

1. Click Auto Correct.
2. , Click Use next to the link you want to adjust, ensuring totals align automatically.
3. Click Save to ensure your changes are saved, and that the invoice is ready to be processed.
4. Review the invoice again to confirm that the discrepancy is resolved.

Scenario 4: Newly created analysis data isn't showing in iCompleat

iCompleat updates the data shared with your finance system once a day. (An Administrator can set the cache schedule in Behaviour settings.)

If you add new data to your finance system and want it to be immediately available in iCompleat, an Administrator needs to cache the new information to iCompleat.

 

They can do this by going to Configuration > Company > Connection, and then clicking Sync Now.

Scenario 5: There's an exchange rate issue

iCompleat supports multiple currencies and exchange rates when connected to your finance system. Sometimes an invoice might fail to post to your finance system if the exchange rates haven't been updated.

To resolve this, go into your finance system to check if the exchange rate has been set up or needs to be updated. Then, recache using the Sync Now button (see steps above).

Scenario 6: There's a bank detail validation error

Bank detail verification in iCompleat checks whether the bank details on a supplier invoice are authentic.

This is beneficial for the following reasons:

• Identifies if bank details are missing from a supplier invoice
• Helps you keep supplier bank details up-to-date in your finance system
• Flags up potentially fraudulent bank details

You can resolve bank validations by checking the details in your finance system or contacting the supplier directly to confirm.

For more information, check out Approve or deny an invoice with a bank detail validation error.

Final validation and approval

After you have corrected all discrepancies on an invoice, you should take time to review the invoice again to ensure all validation errors have been addressed.

Then, when you're happy all information on the invoice is correct you should submit it to a workflow for approval.

And finally, confirm that all changes are documented and update any records within your organisation to reflect the correct invoice details. Keeping accurate records helps to prevent future discrepancies.

 

 Still got questions? Comment below and let us know how we can improve this guide.