Control

QCDocs ensures that the information entered into your accounting application agrees to the information contained in the documents that support those transactional records. We refer to this as “Vouching”, as it serves to verify that the information entered is indeed true.

This features serves as an effective internal control in environments where there is only a single individual entering transactional records, and or reduces the need for secondary review of transactional entries as the risk of error is greatly reduced using QCDocs.

There are three types of journal entries that most accounting applications support in order to effectively use subledgering systems and QCDocs manages each of these:

  1. Bills: Consist of invoices from vendors or expense reports, or any document that supports the payment of a cheque by the Organization. Payment gets tracked in the Accounts Payable Subledger until payment or settlement. Payment entries are usually tied to the accounts payable cheque capabilities.
  2. Invoices: Consist of invoices generated by the Company to be sent to its customers and parties that owe it money. Transactions are tracked in the Accounts Receivable subledger until payment or settlement. Receipt of customer payment or settlements are generally tied to the accounts receivable subledger deposits system.
  3. General Journal Entries: Consist of all other types of entries recorded, but generally tracks login statistics and system usage statistics like volume of approved documents etc.

Many accounting applications allow you to take shortcuts or record transactions on a cash basis. QCDocs is optimized for accrual based accounting and is best used when entries are posted through the relevant subledger systems.

Bill

Bills consist of invoices from vendors or expense reports, or any document that supports the payment of a cheque by the Organization. Payment gets tracked in the Accounts Payable Subledger until payment or settlement. Payment entries are usually tied to the accounts payable cheque capabilities.

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Bills consist of invoices from vendors or expense reports, or any document that supports the payment of a cheque by the Organization. Payment gets tracked in the Accounts Payable Subledger until payment or settlement. Payment entries are usually tied to the accounts payable cheque capabilities.

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Journal

Bills consist of invoices from vendors or expense reports, or any document that supports the payment of a cheque by the Organization. Payment gets tracked in the Accounts Payable Subledger until payment or settlement. Payment entries are usually tied to the accounts payable cheque capabilities.

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Excel

Import
Import automatically runs Sync for bills so that you can get the latest bill transactions from your accounting application.

Excel
Excel generates an excel spreadsheet with embedded links to the exported transactional documents selected.

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