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Accounts Payable Processing with SAP Business ByDesign : Streamlining Payables Through Workflow and Automation

Product Demo

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  • /demos/mmov/demos/accounts-payable-processing-with-sap-business-bydesign-streamlining-payables-through-workflow-and-automation-demo-us.mp4
  • Introduction
  • Manage the Accounts Payable Process
  • Enter and Submit Invoices for Approval
  • Approve Invoices for Payment
  • Execute a Payment Run
    • Explore how SAP Business ByDesign provides comprehensive cash flow visibility while allowing you to streamline the accounts payable process through workflow, and intuitive analytics and reporting.

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  • Accounts payable processing with SAP Business ByDesign: Streamlining payables through workflow and automation.
  • In this demo, you’ll see how the SAP Business ByDesign solution enables you to manage the accounts payable process,
  • such as invoice approvals and payments, and execute payment runs for multiple invoices.
  • SAP Business ByDesign is an integrated, solution that’s delivered on-demand through a single interface and
  • supports core business processes – including finance − for small and midsize businesses.
  • In this example, I’m the accountant at my company.
  • I use SAP Business ByDesign to help me specify payment parameters, and to initiate the payment process and approval workflows.
  • This helps the company save time, reduce costs, and maximize efficiency, and it helps ensure that vendors are paid on time and that early payment discounts are realized.
  • It’s the end of the month and the company has several outstanding invoices that need to be paid, so I need to execute a payment run.
  • First, From the CASH AND LIQUIDITY work center, I check the company’s cash balance to make sure there’s enough to cover its current and projected obligations.
  • The LIQUIDITY FORECAST allows me to check not only cash in the company’s bank accounts,
  • but also the status of incoming and outgoing payments to determine if there are any pending payments that may negatively impact the company’s cash.
  • Satisfied that the company has adequate cash to cover the current batch of invoices, I proceed with the payment run.
  • First, several paper invoices have been received and need to be posted.
  • In the SUPPLIER INVOICING work center, I select “New Invoice” from the task list and enter the required data.
  • I enter the Vendor ID, invoice date, description, tax information, quantity, and invoice amount.
  • I also enter the general ledger account to which the payment will be posted,
  • and create the allocations to the appropriate cost center by selecting the cost center ID from the drop-down menus.
  • This allows me to update the company’s management reports without changing screens-- to help the company determine how each cost and profit center is performing.
  • From the ACTIONS button, I calculate the totals, run a quick validation check, and post the transaction.
  • Most companies, including ours, have policies governing payment approvals that are based on certain thresholds.
  • This payment amount exceeds one of those thresholds.
  • In SAP Business ByDesign, the amount automatically triggers a business rule that routes this item via workflow to the appropriate approver, in this case, the company CFO.
  • In this example, I’m the company’s CFO.
  • In the MANAGING MY AREA work center, I select the “Approvals” view, and see the approval task line item sent by the accountant.
  • I click on the line item and review the details.
  • Satisfied with the information, I click the “approve” button.
  • Once the invoice is approved, the company’s liquidity forecast is automatically updated.
  • In this example, I’m the company’s accountant.
  • I want to refresh the LIQUIDITY FORECAST to determine how this payment affects the company’s liquidity.
  • I click the ACTIONS button and select View Details, which refreshes the report and expands the view on the RECEIVABLES/PAYABLES line item.
  • Clicking on the line item I just created allows me to drill down into the transaction details behind it.
  • Sure enough, the new payment I created is included in the forecast line item.
  • Then I click the EXPORT button to create a report in Microsoft Excel, which I will send to the company executives for review.
  • Now, I’m ready to do the payment run.
  • To complete the payment run, I open the PAYABLES work center, click on the EXECUTION DETAILS tab, and click on the “View Payment Proposals” button.
  • From the list of active payment runs, I click on the one I’m working on.
  • I click on “Display Log,” and when the new window opens, I click on the “Results” tab.
  • Here, I can review the message log to see if there are any problems that occurred in the processing.
  • Satisfied that everything is in order, I close the window, and the payment run will be executed automatically at the determined time.
  • As you have seen, SAP Business ByDesign provides comprehensive cash flow visibility while allowing you to
  • streamline the accounts payable process through workflow, and intuitive analytics and reporting.