Guides

Straight answers on invoice extraction and the accounts-payable basics. Each one leads with the answer, then explains it.

How-to

Glossary

What is invoice data extraction?

Invoice data extraction is the process of turning an invoice document, a PDF, a scan, or a photo, into structured data: vendor, invoice number, dates, tax, totals, and line items you can sort, export, and pay from.

What is invoice OCR, and why is it not enough?

Invoice OCR (optical character recognition) converts a scanned or photographed invoice into machine-readable text.

What does net 30 mean on an invoice?

Net 30 on an invoice means the full amount is due 30 days after the invoice date.

What is 3-way matching in accounts payable?

3-way matching is an accounts-payable control that compares three documents before an invoice is paid: the invoice, the purchase order that authorized the spend, and the receiving report that confirms what was delivered.

What is the difference between a purchase order and an invoice?

A purchase order (PO) is sent by the buyer to order goods or services, before anything is delivered.

What is the difference between an invoice and a receipt?

An invoice is a request for payment: it lists what is owed and when it is due.

What is accounts payable?

Accounts payable (AP) is the money your business owes suppliers for things you have already received but not yet paid for.

What is a credit memo?

A credit memo (or credit note) is a document a seller issues to lower the amount a buyer owes.

What is a pro forma invoice?

A pro forma invoice is a preliminary bill a seller sends before delivering goods or services.

What is remittance advice?

Remittance advice is a note the payer sends the supplier to say which invoices a payment covers.

Turn your next invoice into verified data

Free for 10 invoices a month, no card. Every field carries a confidence level and cites its source.