About Accounts Payable automation
The AP automation is intended to perform real-time reconciliation checks for the documents at the time of recording and thereafter to withhold the payments on invoice/tax value to the non-compliant vendors, or raise a debit note if the payment has been made.
Streamline accounts payable automation with Cygnet Tax Transformation Architect
Integrate with multiple systems and ERPs for smoothly transferring data to Cygnet’s e-Invoicing software.
- Microsoft Dynamics
- Custom ERPs
Process invoices with Intelligent Document Processing
- AI/ML trained model to extract invoice information, check data integrity & authenticity to conduct multiple data checks for improved data quality
Enable payment decisions basis invoice match scenarios with GSTR 1 and GSTR 2B
- For matched invoices, payment block is released
- For mismatch invoice, payment block is applied for entire invoice
- For partial match, regards to tolerance limit set by entity, GST amount shall be blocked
Enable payment decisions basis business exigencies
- For a mismatch invoice, only block tax amount as an exemption as per business exigencies
- If any payment terms, clear payment based on their GRC score (compliance rating).
- If the invoices are not reported subsequently, debit note shall be auto generated
- Generate ERP reports depicting payment blocking status basis Reconciliation
- Create comprehensive reports for just-in-time analysis for the accounts payable team