Product Update, July 2024

Precoro presents our latest series of product updates. Please feel free to explore at your leisure or navigate directly to the updates that most interest you:

• Personalize supplier approvals with custom fields
• Maintain uninterrupted approval workflows with new notifications
• Improved accuracy with amount-based tolerance limit matching
• Integration updates
• OCR improvements
• Other upgrades

Personalize supplier approvals with custom fields

If you ever needed to approve suppliers based on specific criteria like their location or the type of products they sell, we got you covered with this update.

Now you can add custom supplier fields in the approvals workflow to ensure the right people approve certain vendors, and that the process is compliant. Here is how it works:

1. Navigate to Suppliers and Items > Custom Supplier Fields, create or edit an existing custom field, and check the "Approval Workflow" box. Please make sure to choose a drop-down list for the field.
2. Open the Supplier Approval Workflow page and assign access to the custom fields.

And that’s it. When adding new suppliers, they will go through the approval workflow you have configured.

📖 Read more about custom supplier fields in our Knowledge Base.

Maintain uninterrupted approval workflows with new notifications

To maintain smooth approval workflows and prevent accidentally removing the only approver of a document, we've added a warning notification. A message will pop up if you attempt to edit user rights in a way that would remove the last available approver. This allows you to review current settings and assign alternative accesses before making changes.

Improved accuracy with amount-based tolerance limit matching

We’ve enhanced the Tolerance Limit feature to focus on amount deviations, rather than quantity. This update ensures more accurate financial control by flagging discrepancies between the total amounts on your purchase orders and the invoices or receipts from your suppliers.

For example, if the item quantity in a receipt is higher than it is on the PO, the new matching process will detect this discrepancy.

📖 For more details on the matching process, please refer to this article.

Integration updates

Simplify your Amazon Business and Staples purchasing with new PunchOuts

Precoro continues to introduce new PunchOut integrations. If you want to ensure your office is fully stocked with essential supplies while keeping orders simple and controlled, our PunchOut integrations with Staples and Amazon Business may be what you are looking for.

The best part is that the workflow is super easy to adapt to. All you need is to create a PR in Precoro, shop on the Amazon or Staples marketplaces, and once you check out, the order details will be automatically populated in your PR.

📖 Learn more about Staples integration here. If you are interested in the Amazon Business integration, please follow the link to our Knowledge Base for more details.

New notification for when Xero integration disconnects

To avoid disruptions and ensure smooth operations, we’ve added a new notification for Xero integration disconnections. These alerts prompt administrators to promptly re-establish the integration in scenarios such as:

• Xero subscription transferred to another user.
• Xero subscription canceled.
• Xero subscription expired.
• Xero admin removed from the Xero organization.

To activate this notification, go to Email Preferences and enable the "Notification about disconnected Xero integration" setting.

💡 Please note that until the integration is restored, your company’s documents, suppliers, items, and tracking categories will not be created or updated.

View logs for Xero integrated suppliers

To improve your supplier management and keep you informed, we’ve introduced the ability to view update logs for Xero-integrated suppliers. These logs will provide details on supplier updates and are now accessible directly from the Supplier Management page within each supplier profile.

Streamline your tax management with the new workflow

To ensure seamless document processing, we've updated the tax creation workflow. You can now import taxes directly from Xero or QuickBooks rather than adding them manually in Precoro.

📖 To learn more about data synchronization with Xero and how to integrate taxes with QuickBooks on our Knowledge Base.

OCR improvements

Streamline your invoice processing with auto-filled locations

Save time and boost efficiency in AP processing with our new smart location auto-fill feature. With this update, Precoro will automatically fill in the Location field based on the Ship to Address from your invoices, so you don’t have to manually enter it every time.

Here’s how it works:

1. When you submit a document for recognition, Precoro extracts the address from the Ship to Address field.
2. When you create a new document—whether a Standard Invoice, Invoice from PO, or Credit Note—you’ll manually select the location for the first time.
3. Precoro remembers your selection, so for future invoices with the same address, the location will be filled in automatically.

💡 Please note that if you update a location, this change will be applied to future invoices with matching addresses. If the Ship to Address doesn’t match any existing values in Precoro, the Location field will remain blank.

Simplified document auto-creation

We've improved the auto-creation process for invoices in the AP Inbox to streamline your operations. By removing mandatory item matching, we’ve reduced unnecessary delays and made it easier to automatically generate invoices from purchase orders. This update accelerates the invoice creation process and ensures smoother workflow integration.

For those who need more precision, you can still enable the matching step by activating "Match Invoice Line Name/Description to Order."

Introducing an enhanced design for credit notes

We’re excited to unveil the updated design for creating Credit Notes using OCR. This new layout is part of our ongoing efforts to improve document creation and enhance your user experience.

Currently in beta testing, the new design is available upon request. Contact our Support Team to activate this feature.

Easier credit note creation

You can now add Credit Notes to invoices using OCR without needing to enable the "Enter Invoice as One-Line" option. The system will automatically handle this for you.

💡 For detailed instructions on adding Credit Notes to an invoice via OCR, please refer to this article.

Enhanced filter order for easier access

We’ve revamped the filter order on pages for creating invoices from POs and credit notes. Now, the Supplier and Creation Date fields are prominently positioned at the top of the fast filters panel, making it quicker and easier for you to access these key filters.

Ability to delete unmapped items

We’ve introduced a new feature that allows you to delete unmapped items while creating an Invoice from PO in the AP Inbox. This ensures that your Invoice Draft only includes the items you need.

💡 Please note, this functionality is available only with the new design. To activate this feature, contact our Support Team for assistance.

Other upgrades

Enhance budget visibility with expanded settings

All users with access to PR, PO, Invoice, or Expense modules can now see the available budget amounts.

To activate this feature, go to Configurations > Basic Settings > Document Setup > Budgets, and check the "Show budget amount to PR/PO/Invoice/Expense issuers" setting.

If you deactivate this setting, only approvers and budget holders will have access to the budget information.

Improved tolerance limit settings for supplier profiles

We’ve introduced a new Tolerance Limit tab in the Supplier profile to streamline how you set up and manage tolerance limits. In this tab, you can define conditions, choose between a percentage or a fixed currency amount, and specify the limit. These settings will override the default Basic Settings for tolerance rules.

Additionally, tolerance limit data is now available in Supplier Management Filters, Supplier Management Lists, and Reports, and changes are recorded in the Supplier Revision History for better tracking.

Automatic update of default options when changing suppliers

When you switch suppliers, default options in your documents will now automatically update to reflect the new supplier’s settings. If the new supplier is missing any values, the previous supplier's values will be retained.

If you had manually adjusted the options before changing suppliers, the system will replace those adjustments with the new supplier’s default settings. For custom fields, the budget will be automatically adjusted if needed, and any mismatches will be highlighted in red to alert you to review them.

Budget list redesign

We've revamped the budget management page to make it more user-friendly and efficient. The updates include:

• A modernized interface for easier navigation
• A color-coded display to quickly identify budget expenditures
• A new "View by Budget Line" feature that allows you to open and review all budget lines directly from the filter panel.

Simplified attachment uploading

Uploading files to Precoro is now more straightforward. We've introduced an improved attachment feature with a new drag-and-drop area and a highlighted box for easy file uploads. This enhanced layout is available across all Precoro documents.

3-way matching improvement

The 3-way match feature now activates based on the Payment Terms in the invoice. Specifically, if the invoice has Payment Terms set to Postpayment (where the percentage is greater than 0), a 3-way match will be automatically triggered.

Save filters and schedule reports for user reports

We’ve added the ability to save filters and schedule reports in the "Users Report by Current Company and Account", making it easier to manage and automate your reporting process.

📖 For detailed instructions on scheduling report exports to Google Sheets, please refer to this article.