Using Nucleus One for Accounts Payable

Using Nucleus One for Accounts Payable


Notes
Product: Nucleus One
Best For: Administrators, Accounting Users
Industry: Accounting
Summary: This article explains a few applications for Nucleus One Assets and Workflow Process in an Accounts Payable setting.

In an accounts payable environment, assets function as a ticket system. When documents are uploaded into Nucleus One with the appropriate workflow and tags, a new asset is automatically generated. This asset is then sent to Approvals for review and approval. Once approved, it is marked as complete in Assets, displaying key document information like invoice number, total cost, and vendor name.


Steps for Admins

1: Project

Add a new project. Name the project “Accounts Payable” or something similar.

2: Fields

Navigate to your new project, Accounts Payable, then to Settings. Navigate to Fields. 

Add the following fields:
Invoice Number
Total
Vendor Name
Other fields can be added. 

3: Tags

Navigate to your new project, Accounts Payable, then to Settings. Navigate to Tags. 

Add the following tags:
Check
Invoice
Other tags can be added. 


Ensure that the relevant fields are attached to the appropriate tags.

4: Assets

Navigate to your new project, Accounts Payable, then to Settings.

Navigate to Assets.

Add a new asset with the following settings:
Name: Invoice
Plural Name: Invoices
Required Fields: Invoice Number, Total, Vendor Name
Field for item naming: Invoice Number
Requirements, Tags for Documents: Check, Invoice

5: Workflow Process

Asset Approval

Navigate to your new project, Accounts Payable, then to Settings. Navigate to Workflow Processes.

Click on the plus icon, and name your workflow process. (Example: Asset Approval)

Add the following process elements:
      1. Add a new Tags Update trigger. The settings should be as follows:
            Tags: Invoice


      2. Add and connect the Asset Action. The settings should be as follows:
            Asset: Invoice
            Tags: Invoice


      3. Add and connect the Approval Action to the Asset. The settings should be as follows:
            Assign to: Invoice Approver users
            Preferred item type: Asset


The Workflow Process should be structured as follows.


Through this Workflow Process, an invoice asset will be automatically generated once a document is uploaded. Then, it will be sent to Invoice Approval users for approval

Folder and Filename Building

Navigate to your new project, Accounts Payable, then to Settings. 
Click on the plus icon, and name your workflow process.


Add the following process elements:
      1. Add a new Tags Update trigger. The settings should be as follows:
Tags: Invoice, Check

      2. Add and connect the Folder Change. The settings should be as follows:
Name: Field value, vendor name, full length

      3. Add and connect the Document Rename to the Folder Change. The settings should be as follows:
Name: Field value, vendor name, full length
Name: Field value, invoice number, full length
Tags: All test tags in alphabetical order.



The Workflow Process should be structured as follows.


Through this Workflow Process, a document with its tags changed will automatically move to its respective folder, and become renamed, to reflect the new tags.

Steps for Users


In this use case, the users would be the members of the invoice approval group.

The process is initiated by uploading a new invoice. Upon upload, the invoice document will automatically create an associated asset.


Check the Approval queue to review the new Asset and the new uploaded Invoice.


Click on the asset, and navigate to the DOCUMENTS tab. Add a Check document in the Invoice Asset by clicking on the plus icon. Ensure that the newly uploaded check document is tagged accordingly as a check.


Approve the Invoice asset. 


Check the document under the folder which it should be in through the Folder and Filename Building Workflow Process. The documents are saved under folders based on the Vendor Name. 


Problems Solved by Nucleus One

This system solves the following problems in an Accounts Payable environment:
  1. Inefficient Invoice Tracking: By using assets as a ticket system, it provides a structured way to track the status of each invoice from upload to approval.
  2. Manual Approval Processes: It automates the routing of invoices to the appropriate approvers, reducing manual intervention and potential delays.
  3. Disorganized Document Management: It ensures that documents are properly tagged, filed, and renamed based on defined workflows, improving organization and retrievability.
  4. Lack of Centralized Invoice Information: Each asset displays important invoice details (invoice number, total cost, vendor name), providing a centralized view of key information without needing to open the original document.
  5. Difficulty in Auditing and Review: The system streamlines the review and approval process, making it easier for "Invoice Approver" users to manage and complete their tasks.

Conclusion


This article demonstrates how Nucleus One can be effectively utilized as an asset-based ticket system within an Accounts Payable environment. By configuring projects, tags, fields, assets, groups, and workflow processes, organizations can streamline the invoice approval process. Uploaded documents automatically generate assets, which are then routed to the designated "Invoice Approvers" group for review. This system ensures efficient tracking, review, and approval or rejection of invoices, ultimately optimizing accounts payable operations.


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