Updates to Dynamics 365 Finance 2022 release wave 2 include general availability of vendor invoice OCR (optical character recognition). This will automate the reading and recognition of vendor invoices by providing OCR capabilities to complete the full end-to-end automation of accounts payable.
I was expecting this functionality for a while. I've not set it up or tried before but we were using some third parties to manage this functionality.
According to the documentation, we will be able to
- Upload vendor invoices to pending invoices as header and lines and related attachments.
- Will be managed through data entities.
- Vendor pending invoice header entity will be change for to add attachment and new entity to be added for attachments.
- Also for to manage the process UI forms will be added.
According to my previous experiences, there is still need to cover the processes below:
- Use vendor invoice journal for the processes that do not use a PO or a pending invoice.
- Use vendor approval journal process.
- A little bit more information/documentation on the OCR process on how VAT(TAX), PO, company, product receipt, vendor code etc. is going to be managed.
- To manage customer return invoices
You may find details from the links below:
https://docs.microsoft.com/en-us/dynamics365/finance/accounts-payable/vendor-invoice-automation
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