TRAFXS Systems - Ticket Matching
TRAFXS Ticket Matching Solution
Ticket matching associates incoming invoices with accrued accounts payable transactions which were previously calculated as a by-product of movement recording and invoicing. Unmatched tickets, representing a real, if unbooked, liability, may be posted as accrued accounts payable to the general ledger.
Ticket matching generally occurs upon invoices for product purchases and/or freight, and supersedes the standard invoice entry procedures found in accounts payable. Adjustments in volume and/or cost made when the invoice is actually received and matched are automatically posted to contract history.
Selection of tickets to be matched generally occurs by vendor and bill of lading, both of which normally appear on an incoming invoice. However, the system also supports ticket selection by date, location, and contract; this permits accurate processing should the bill of lading not be available, or if the original transaction were posted to the wrong vendor.
Batches of matched invoices, after review, are 'released' to the accounts payable system, at which time they pursue normal processing.
Daily matched ticket report, which is produced in vendor or G/L code sequence. When printed in G/L account order, the report provides an audit trail for daily G/L posting from the ticket matching subsystem.
Daily matched tickets variance report, in which variations between accrued and actual volumes (or accrued and actual costs) are reported. This report helps verify the accuracy of incoming bills.
A flexible ticket-printing report, permitting retrieval of tickets based on status (matched or unmatched), type (product or freight), and date. Here too, variance information is optional.
A laid-in cost report, in which product purchase and freight costs are accumulated for each transaction, yielding a net cost per barrel (or ton). Both accrued and actual costs are reported.