How does WareConnect work?
WareConnect is a cloud-based subscription service, that 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.
Budget
Budgets are vital for forecasting and tracking expenses over time, with allocations to Departments, Cost Centre’s, Projects, and more. WareConnect simplifies expense management, helping users avoid unnecessary purchases and maintain financial control. This tool provides insights into spending patterns, allowing for informed decisions and responsible financial practices.
To know more about the Budget module click here
Purchase Request (PR), Purchase Order (PO) and Workflow
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.
To know more about PR, PO, and Workflow click here
Goods Receipt (GR)
Utilize WareConnect to effortlessly manage received items. Record partial or full deliveries for easy tracking, facilitating a smooth 3-way match process for enhanced inventory accuracy.
To know more about GR click here
Invoice Verification and Workflow
This module extracts data from the Invoice received via email, the invoice data is verified and validated against the business rules.
Then the Invoice is routed to approval flow during which it is matched against PO and GR for 2-way and 3-way matching. Finally, the invoice data and pdf are posted to MYOB in real-time.
To know more about Invoice verification and Workflow Click here
Statements
Enable automatic matching of creditor statement data against received creditor invoices to generate a timely and accurate statement reconciliation report. Receive an accurate and detailed statement reconciliation report highlighting missing invoices, amount discrepancies, and aged balance validation.
To know more about Statements Click here
Expense Claims
Digitise Sundry expense receipts and reconcile the same with the approval process. The claims are approved based on the company policies while monitoring the allocated budget. Get a detailed and accurate report to rein in unnecessary expenses while quickly reimbursing employees and timely paying the credit card bills.
To know more about Expense claims Click here
Credit Card Reconciliation
Credit Card statements are handled comfortably by WareConnect. 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.
To know more about Expense claims Click here
EFT Bank Summary and Remittance Advice
We aim to expedite invoice payments by creating batches in WareConnect, generating MYOB cheques, and automating email notifications with remittance advice to suppliers. This streamlined process allows Accounts Payable personnel to efficiently download ABA files for seamless bank uploads, enhancing accuracy, saving time, and increasing overall productivity in the payment process.
To know more about Bank summary and Remittance advice click here
Which Industries is WareConnect built 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. It also automatically posts the data in MYOB.