In this issue, we put EzzyBills’ machine learning in the spotlight and explain how this has revolutionized invoice processing. We explain how EzzyBills can learn from your accounting data and past invoices to do what you ask it to do and do it right even for your oddball invoices. This is particularly important for supplier and invoice number extraction, job tracking and GL codes automation.
This issue also covers the new features we added in May, including “Mark as Billed” for purchase orders in Xero, option to add attachment such as a delivery slip to an invoice in Xero, and the option to use default item code for MYOB item invoices .
1. EzzyBills Machine Learning: a great leap forward for invoice processing
You may have heard a lot lately about artificial intelligence, such as robots, self-driving cars, and Google DeepMind chess playing. AI is also being used in accounting software – if you went to any conferences on accounting lately, you would not have gone home without through talks on AI.
Machine learning, as the core of AI, is a significant part of EzzyBills invoice processing engine. It makes EzzyBills stand out in the market place – 100% automation, fast, extracting line items if possible and super smart with GL coding and job tracking. All of these makes EzzyBills “amazing” as remarked by many our customers.
When using EzzyBills, be aware of the machine learning capability and take steps to make EzzyBills work the best and hardest for you. EzzyBills has many features that you may not have used, such as approval process, job tracking and stock invoices. Unleash the power of EzzyBills!
Recently a Xero client called to ask about job tracking. She heard about EzzyBills job tracking and would like to try it out. She felt her case was a bit complicated: use deliver address to track jobs for different offices. We showed her how to set up keywords and first sets of invoices in Xero. From there, EzzyBills was able to learn and get the right tracking category for subsequent invoices. It was an amazing experience for our client and her appreciation made us super-proud for EzzyBills’ machine learning.
There are many invoice processing solutions in the marketplace, but none to our knowledge has the machine learning ability as EzzyBills does. EzzyBills has processed millions of invoices and come across a large variety of invoice formats: sales invoices or purchase bills, credit notes, recipient generated invoices, rental invoices – the list is endless. They can be scanned images, PDF files, Excel, Word document or within email as hyperlinks. Amazingly EzzyBills invoice processing engine is able to zoom through them without the need of inference from our staff.
If you are trialing EzzyBills, we hope you will embrace the process of machine learning, and let EzzyBills go through it. EzzyBills will adapt and even get the oddballs right for you. It is not a onerous process – several best practices below are recommended:
Correct an invoice in your accounting package if it is wrong. This is particularly important for invoice number, tracking, and GL codes automation. EzzyBills will learn from the past invoices and get similar invoices right next time.
Add ABN/GST/VAT number to your suppliers. Such number is unique and is the best way to identify supplier accurately.
Provide the ABN/GST/VAT number for your organisation in the EzzyBills Settings. This is particularly important if we cannot get such information from your accounting package.
In the EzzyBills Settings, click “Refresh GL” so that EzzyBills will see the changes in your accounting package immediately.
Small steps make big differences. Given some space for learning, EzzyBills will do extremely well for you. If EzzyBills has not impressed you on the first day of trial as we often do, we hope after 30 days, you would be extremely happy to say that you have found the right invoice add-on for your business. Go EzzyBills!
2. New features supported by EzzyBills
For Xero users, we added the support for EzzyBills to mark purchase order as “billed” if EzzyBills exports an invoice to your account and found a matching PO. (more)
For MYOB users, this has been supported for a long time. (more)
For QuickBooks online, it is not yet supported at the moment.
For MYOB users, we added new features to item invoices.
One feature is to allow you to add a default item code in the EzzyBills Settings and in MYOB. This feature is to get around the MYOB requirement: item codes for all lines on item invoices.
Another feature is that EzzyBills will check your Purchase Layout of the supplier in your MYOB account. If it is set to be “Item”, all invoices to this supplier will be exported as item invoices. If no item codes, default item code set in the EzzyBills Settings (and in the MYOB list) will be used.
Option to add additional attachment to an invoice in Xero.
This feature is available if you use “Approval Process”. When you invoices are waiting approval in EzzyBills, you can provide more file attachment to the invoice (additional to the invoice file), such as a delivery note.