What is purchase invoice? Meaning and explanation

A purchase invoice is the invoice your client receives from a supplier. In the books it creates a liability to the creditor, and the amount is posted to an expense, inventory or balance sheet account. The VAT on the invoice is generally deductible as input VAT. To deduct it, the invoice must meet the invoice requirements, such as the supplier's VAT number and a correct VAT amount.

Purchase invoices are the largest volume of documents in most administrations. Each one has to be collected, coded and later reconciled against the payment. Errors in the GL account or VAT code feed straight into the result and the VAT return. Purchase invoices also arrive through many channels, from email to paper, which makes collecting them from clients time-consuming.

Autoboeker processes purchase invoices for Exact Online, Twinfield, SnelStart and e-Boekhouden. They arrive via upload, a purchase email address per administration, the client app, WhatsApp or Connect (such as Gmail, Outlook and cloud storage). Autoboeker recognises supplier, amounts, VAT and GL account, checks VAT number and IBAN, flags duplicates and books automatically above the confidence threshold. In Exact Online, Twinfield and SnelStart the payment can then be matched.