What is Invoice Capture?
Invoice capture is defined as the automatic collection, extraction, and digitizing of information from supplier invoices and entering that data into the restaurant's accounting system or accounts payable system. It uses technology rather than manual data entry to gather information from invoices.
Invoice capture is often used for-- Food invoices
- Beverage invoices
- Equipment purchases
- Utilities
- Packaging and supplies
- Vendor payables
What Information Is Captured From an Invoice?
Common data elements that capture systems are programmed to retrieve-
- Vendor name
- Invoice number
- Invoice Date
- Due Date
- Purchase order number
- Line item information
- Tax amounts
- Total invoice amount
Data captured from invoice capture can be integrated into accounting and payment processes.