RECEIPTS
Automated Receipt Data Entry & Verification
Our AI reads receipt details to accelerate data entry. Additionally, it enhances operational efficiency by verifying the consistency between subtotals, tax amounts, and total amounts, while also ensuring compliance with relevant regulatory requirements.
AI Powered Expense Processing Workflow
01
Pre processing
Before OCR processing, our AI isolates only the necessary documents and performs auto rotation for optimal readability. For multi-page PDF files scanned using multifunction devices, the system automatically separates receipts, preparing them for efficient OCR processing.
02
OCR Processing
The AI reads each item listed on the receipt and converts them into text data. There’s no need to pre-define templates for individual receipts; the AI recognizes and reads the content automatically.
03
Verification and Data Entry Assistance
Our AI verifies the accuracy of the extracted receipt details. It also assists in data entry by suggesting account codes based on information such as amounts, dates, and payees.
04
Integration with Workflow Systems
The extracted data can be integrated with ERP and workflow systems via API, eliminating the need for manual data entry and streamlining operations.
Tips & Insight: Checking Receipt Images Captured with Smartphones
Under the scanner storage system of the Japanese Law on Electronic Record Keeping, businesses are allowed to store receipt data captured with a smartphone camera instead of keeping the original paper receipts. However, the regulation requires that the images be ‘as clear as the original paper’ (Revised Regulation, Article 2, Item 6, Clause 5).
In response, JIIMA has outlined key considerations, highlighting potential issues such as ‘camera shake,’ ‘angled shots,’ ‘low-light conditions,’ ‘curvature,’ ‘obscured information due to fingers,’ and ‘glare.’
Fast Accounting’s products utilize AI to verify whether stored receipt images meet these clarity requirements, as well as other legal compliance criteria.
Schedule Your Personalized Demo
Experience the future of financial automation with a guided tour of the Fast Accounting ecosystem. Our experts will walk you through our core products, demonstrating how our specialized AI integrates seamlessly with your existing ERP to eliminate manual data entry and reconciliation errors. Whether you are looking to scale your department’s capacity or fortify your fraud prevention, we are here to help. Reach out today to discuss your specific accounting workflows and discover how our solutions can be tailored to meet your unique enterprise needs.
We Want Your Mail
Ready to streamline your finances with the power of AI? Reach out today or send us an email to get started immediately.
