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MineralTree TotalAP – End-to-End AP Automation for NetSuite

Status: Unverified

MineralTree TotalAP helps automate the entire AP process end-to-end, including invoice capture, coding, purchase order match, invoice approval, payment authorization, and payment execution. You can set up TotalAP and sync with NetSuite in a matter of hours. TotalAP connects NetSuite with your business bank account to execute vendor payments without changing your accounting process.

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Description

Better AP and Payments for NetSuite

Seamlessly integrated with NetSuite, MineralTree TotalAP automates the the critical aspects of the AP workflow:

  • Automated Invoice Capture and Approval: With MineralTree, you can automate invoice capture and get invoice approvals online.
  • Purchase Order Matching: Two-way PO matching allows AP staff to match PO lines to invoice line items once the invoice data has been captured. Upon approval, invoices sync back to NetSuite with the correct PO association.
  • Effortless Payment Approval: Eliminate stacks of paper invoices and checks. Your CFO can approve payments from anywhere.
  • Secure Payment Execution: Automatically prints and mails checks and connects with your bank account for ACH origination, ensuring security and accuracy, and no settlement account. Earn rebates by paying vendors with MineralTree’s Virtual Card program.
  • Not an IT project: You’ll be up and running in hours.

Key Benefits

  • Increase efficiency and streamline your AP operations by automating invoice capture, enabling online invoice and payment approvals, eliminating manual check issuance, and simplifying electronic payments.
  • Cut end-to-end invoice and payment processing costs.
  • Keep your business safe from internal and external fraud with two-factor authentication and payment verification, payment limits, an audit trail of key steps, and integration with your bank’s Positive Pay system.
  • Real-time data synchronization with NetSuite.

Customer Quote

MineralTree has enabled us to automate our bill payment process. It was very important to us that our accounting system — NetSuite — had an integration feature with our provider. It makes our processing that much more seamless, and makes it an attractive offering for us. We can get more work done with fewer people.

– Bill Sobo, CFO, BlueSnap

MineralTree TotalAP Offers

  • ACH origination from your bank -Automated check fulfillment
  • Automated invoice capture
  • Ability to earn rebates by paying vendors via virtual or credit card
  • Invoice approval
  • PO matching
  • Payment approval
  • Payment execution
  • Two-factor authentication and payment verification
  • Separation of duties
  • Document management
  • Electronic remittance
  • Cash flow management
FEATURES

AP and Payment Automation for NetSuite

Automate all integral parts of the AP process including invoice capture, purchase order match, invoice approval, payment approval, and payment execution in one simple interface. You can set up MineralTree Invoice-to-Pay in a matter of hours.

Purchase Order (PO) Matching

Purchase Order(PO) Matching for NetSuite allows a company to send all invoices, derived from POs and not, through the same invoice capture process. When PO-based invoices are captured, users have the ability to match the capture invoice line items to line items on POs that were entered in NetSuite. This accomplishes two things:

  1. No more coding invoice lines since the coding from the PO is copied to the invoice once they’re linked.
  2. When the invoice is posted back to NetSuite, it’s linked to the PO. Once a PO has been fully billed, the record in NetSuite is closed (just as if the process had been followed entirely in NetSuite). Depending on company’s policies, users have the ability to route (or not route) invoices derived from POs for approval.

Invoice Capture and Approval

Extract important vendor information from paper and electronic invoices and then route for approval from anywhere. Once an invoice is scanned into NetSuite or created directly in MineralTree TotalAP, use TotalAP to request invoice approval. You can also add comments and attach supporting documents to further streamline the process.

Payment Approval and Execution

The traveling CFO no longer holds up the payments process. With MineralTree TotalAP, you can review, approve, and process payments from your tablet or desktop computer. Once payments are approved, checks are printed and mailed, ACH files are directly transmitted to your bank for origination, virtual cards are securely sent, and remittance detail is sent to the vendor. Executed payments are posted back to NetSuite and applied to the corresponding invoices with the appropriate check number. Vendors paid via MineralTree's Virtual Card program qualify for quarterly rebates.

Document Management

MineralTree TotalAP enables you to completely eliminate paper from your office. The document management functionality features unlimited storage and lets you easily store and access all supporting documents needed for your AP department.