Introduction
The "Anomaly and Fraud Detection" feature automatically checks all receipts that are submitted and uses AI to automate receipt verification for accountants. This feature is designed to save you time by ensuring that receipts correspond accurately to the payables to which they are attached. Finance teams can easily view the receipt check status in the Bookkeep > Prepare section, above the receipt, as shown below.
Benefits
This feature reduces the need for you to manually verify each receipt. When a receipt passes all checks, you can be confident that the supplier, date, and amount on the receipt match the payable, streamlining your bookkeeping process.
Understanding receipt check statuses
"Receipt Passed All Checks": This status confirms that our AI model has verified that the receipt's supplier name, date, and amount align with the payable.
To help you understand the classification, we've trained the AI model to allow a certain level of flexibility to reflect real-world scenarios:
Supplier: The model accommodates minor spelling variations, e.g., "Uber B.V." on a receipt matches with "Uber" in the payable.
Amount: The receipt amount must match the payable amount in the payment currency. If multiple receipts are uploaded, their total must equal the payable amount.
Date: The receipt date should be within a +/- 2 days window of the payable date to account for settlement delays.
"Receipt Failed Some Checks": You'll see this status when a receipt doesn't meet one or more checks. Hovering over the label reveals which checks were not passed, so that you can run your own manual verification of the receipt. It's important to note that there are legitimate reasons why a valid receipt might fail our checks (read more on this below). So, just because you see this flag it doesn't mean that the receipt should be rejected.
Why valid receipts might fail checks
There are circumstances when a valid receipt does not pass our model's checks. So, it's important to understand that when a receipt fails our checks, it does not mean that it is invalid. But, you should check the receipt to be sure that you are confident that it's the correct receipt for the payable.
Here are some common reasons why a valid receipt may not pass our checks:
Amount Discrepancy: Partial payments by employees, such as paying only 50% of a bill, might cause a mismatch. i.e. the uploaded receipt shows the full restaurant bill amount, but the payment was only for 50%
Supplier Name Variation: Legal entity names on receipts versus trading names entered by employees may not match. For example, "Mailchimp" is the trading name of "Rocket Science Inc". Until our model learns these patterns, you may see valid receipts failing on the supplier name check
Date Mismatches: Payments made for older invoices can cause date discrepancies if the invoice date significantly precedes the payment date.
Steps to take when a receipt has failed checks
Check the receipt for obvious reasons the AI might have flagged it. If you agree that the receipt is not the correct one for the payable, we recommend that you contact the employee to get the correct receipt:
For card payables, use the "Declare receipt as invalid" feature to notify the employee. You can add a message to this notification - use it to explain the situation.
For Invoice and Expense Claim payables, since these receipts passed the Review step, contact the employee directly to send the correct receipt for you to upload in Bookkeep > Prepare.
However, if you believe that the receipt is valid, you can simply ignore the flag and proceed by marking the payable as ready for export.
Feature access
This feature is available on select plans or add-ons. If it's unavailable in your account, please contact Spendesk support to explore your options.