TriFact365 introduces… automatic line recognition for purchase and sales invoices

At TriFact365 we look at customer wishes to further improve our software. With spot on No. 1 was the wish to automatically split out invoice lines from invoices and process them in the booking proposal. We have been working on this functionality for years and it has been running in BETA for many customers since April 2020.

How does it work?

As of April 2020, all invoices are automatically scanned on multiple lines and split into the posting proposal. Administrators can easily turn on BETA line recognition at the administration level to activate this time-saving functionality.

When our recognition algorithms have found and validated invoice lines, the invoice lines are displayed in the posting proposal. TriFact365 automatically takes over the line descriptions, amounts and VAT amounts from the invoice. By combining our database of millions of bookings with machine learning, TriFact365 can additionally link the correct ledgers and VAT codes to the various invoice lines. As a user you save a lot of time because the manual creation and entry of accounting entries is no longer necessary.

Merge booking lines

The automatic splitting of accounting lines is not desirable in all cases. Therefore, we have added an additional option to merge accounting lines. This means that all lines with the same VAT code are merged, so that you can still easily split the VAT in your bookings. You can indicate per account whether you want the lines to be merged by default or not.

Try TriFact365 30 days for free!

You are not yet working with TriFact365 and would like to save time and money with automatic line recognition? Request a trial version here! You can immediately start testing and try TriFact365 for 30 days.