Prism Finance subscribers can import invoices received from any supplier who is also a Prism Finance subscriber.
This feature is ideal for trainers and syndicators who receive invoices from any other training, pre-training/breaking, veterinary, farrier, dentist, agistment and transport service providers, and who need to reflect these expenses in Prism in order to on-charge owners.
No longer do you have to manually enter expenses from any of your suppliers who are also using Prism. This not only saves valuable time but helps you invoice owners more quickly to optimise cash flow and avoid errors.
This help page will describe the first two configuration steps to use this feature:
- Provide your Prism ID to your supplier(s) who are Prism Finance subscribers;
- Configure import invoice rules
1. Provide your Supplier(s) with your Prism ID
Your Prism portal is assigned a unique Prism ID. Your supplier needs to add this Prism ID into your debtor account in their Prism portal, to allow you to import invoices from them.
Your Prism ID can be found in Organisation Config. Copy your Prism ID and provide to your supplier(s).
Your supplier can manually enter your Prism ID into the relevant debtor account in their Prism Finance portal.
Note: You will still receive invoices via email.
Alternatively, your supplier(s) can request your Prism ID by using the 'Send Request' feature via your finance account in their Prism portal.
This will send you an email with a link to enter your Prism ID into an online form, which will automatically update your supplier's Prism portal.
2. Configure Import Invoice Rules
An Import Invoice rule will define the default settings on Expenses you are importing from a supplier invoice.
Navigate to Finance > Rules > Import Invoice.
Click Add to add a new Import Invoice rule for:
- each supplier AND
- each different Expense Item.
Set the desired settings
- the Supplier;
- the Expense Item;
- any extra amount or percentage added to owner charges;
- the payables account you would like expenses to be posted to (a Supplier Bill will be automatically created in Xero, ready for your payment and reconciliation); and
- the receivables account you would like owner charges to be posted to (an Expense Transaction will be added into Prism ready for invoicing at end of month or selection on a Single Invoice).
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