Go to primary content
Oracle® Retail Invoice Matching Operations Guide
Release 19.2.000
F36992-03
  Go To Table Of Contents
Contents

Previous
Previous
 
Next
Next
 

1 Introduction

Oracle Retail Invoice Matching (ReIM) provides a critical control function to verify invoices against corresponding merchandise purchase receipts prior to payment of the supplier invoice. Invoice Matching naturally complements the Oracle Retail Merchandising System (RMS), which supports ordering, receiving, and other inventory management functions in the purchasing cycle.Invoice Matching accurately and efficiently verifies supplier invoices against corresponding receipt data. When total invoice cost and quantity is supported by one or more receipts (that is, the quantity received in the system, valued at the negotiated purchase order cost) within pre-defined tolerances, the invoice is verified (or matched) and is ready for payment. Where differences exist between invoice and receipt, a dialog supports the resolution process. Invoices with resolved discrepancies can be paid. Invoices verified for payment are staged in a table for a retailer to extract to their accounts payable and general ledger solutions.Invoice Matching is designed as a standalone application, with logic built in to reference any merchandising system. However, integration between Invoice Matching and Merchandising is very robust and offers a compelling business case to the retailer.

What is Retail Invoice Matching?

Invoice matching describes a control procedure designed to ensure the retailer pays the negotiated cost for actual quantities received. Invoice verification or matching is a fundamental and critical control procedure for every retailer. Invoice Matching is designed to support the invoice verification process with accuracy and efficiency, focusing resources on exception management. Invoice Matching accepts electronic invoice data uploads (EDI), and provides for rapid on-line summary entry of invoices. Invoice Matching supports automated and on-line processes allowing one or more invoices to be matched against one or more receipts. When an invoice cost and quantities are matched within tolerance, it is ready for payment and staged to a table to allow a retailer to extract to their accounts payable solution.If a cost or quantity difference between the invoice and receipts is outside tolerance, a discrepancy is recognized and must be resolved. A flexible resolution process allows discrepancies to be directed to the most appropriate user group for disposition. Reviewers are empowered to assign one or more reason codes that they are authorized to use, to resolve the discrepancy. Each reason code is associated to a type of action (for example, create charge back or receiver cost adjustment). Many reason codes may be associated with a particular action type, allowing for more granular reporting, and so on. Actions drive document creation and EDI downloads to suppliers, inventory adjustments, and accounting activities. Actions also allow the invoice to be extracted by the retailer and posted for payment.

Invoice Matching is highly integrated with Merchandising to drive efficiency, lower maintenance costs and improve control. Invoice Matching integration provides access to the following data and more:

  • Merchandising foundation data (organizational and merchandising hierarchies, supplier data, currency, exchange rates, and so on)

  • Receipts tables and receiver adjustments

  • Self-billing transactions (consignment purchases, direct store deliveries, and so on)

  • RTV billings

  • Deals and rebate bill-backs

Other functionality within Invoice Matching supports credit note matching against credit note requests (issued in resolution of invoice discrepancies, as well as for RTVs and so on), supplier-disputed debit memos, best terms and terms date processing, flexible tolerance definition dialog, and so on.

Oracle Retail-Based Enterprises

Although Invoice Matching has been developed as a stand-alone product, the most efficient implementation would be as part of the Oracle Retail product suite. This integration provides the following important benefits:

  • The number of interface points that need to be maintained is minimized.

  • The amount of redundant data and processes within the retail organization is limited.

  • Future enhancements allow for greater extensibility into the retail enterprise.

  • Delays in product introductions can be minimized.