What is your Product?
WareConnect is a cloud-based subscription service, which uses Artificial Intelligence and Machine Learning, to automate the processing of Budgets, Purchase Requests (PR), Purchase Orders (PO), Goods Receipts (GR), Invoices, Statements, Expense Claims, Credit Card statements, and EFT Bank summaries.
WareConnect manages Budgets with flexible allocation to department, Project, etc., and disallows PO creation if overbudget. It allows raising PR with a real-time lookup with Budget. This PR is routed to approval flow and on approval is turned into a PO and automatically emailed to the vendor and the finance team. Next, it receipts goods, extracts data from the Invoice received via email, and validates the same against the business rules. The invoice data is verified, and the Invoice is routed to approval flow during which it is matched against PO and GR for 2-way and 3-way matching. Then, the invoice data and the invoice pdf are posted to MYOB in real-time.
As invoice data is stored by WareConnect, it easily reconciles the Statements. Data in Statements is auto extracted and matched against the Invoices received and a detailed report is generated.
Apart from this, WareConnect also handles Expense Claims with ease. Users enter their expenses and upload receipts and the same are routed to approval flow. Rejected expense claims are sent back to the originator for correction and resubmission and approved claims are posted to MYOB for payments. Similarly, Credit Card statements are also handled comfortably. The users of credit cards upload the receipts of credit card payments and the same are matched with Credit Card statements and if approved are posted in MYOB to execute payments.
WareConnect also manages EFT Bank summaries by allowing Users to select invoices to be paid and creating an ABA file of the same. Once the suppliers, payment amounts, and invoice numbers are identified, a detailed report of invoices to be paid including a summary page is created. This report is sent for approval and on approval, the ABA file is uploaded to the Bank portal for payment.
Who is your Product for?
Any company from any industry using MYOB AccountRight, Essentials, or Advanced can beneficially use WareConnect.
How does it integrate with MYOB?
WareConnect seamlessly integrates with MYOB using MYOB API. For ease of use, it fetches Supplier cards, Account codes, Tax codes, Job codes, and items from MYOB and posts data for Invoices, Expense claims, Credit cards, and Invoice PDFs.