GL Posting for Accruals
Hyperbots accrual co-pilot integrates with ERPs to automate invoice writing and GL posting, validating transactions through read-back checks and ensuring accurate double-entry bookkeeping without human intervention.
Key Features
Seamless ERP integration
The co-pilot integrates with ERP systems to ensure that the recommended GL codes are consistent with the organization's financial structure, enhancing data accuracy and consistency across platforms.
Read-back validation
After posting, the co-pilot validates transactions by reading back the written data from the ERP and comparing it with the intended data, ensuring 100% accuracy or detecting anomalies.
Double-entry bookkeeping
The Co-pilot leverages the ERP’s in-built debit/credit mechanisms to maintain proper double-entry bookkeeping.
Error detection and transparency
Any discrepancies detected during validation are flagged, and detailed error logs are generated in the co-pilot UI for review and resolution.
End-to-end automation
The ultimate goal is to achieve automated GL posting without human intervention, which the co-pilot accomplishes with 100% accuracy, significantly reducing manual effort.
Scalable and adaptable for ERP variations
The system adapts to the unique posting workflows of various ERPs, ensuring seamless compatibility across platforms like SAP, NetSuite, and QuickBooks.These features ensure efficient and error-free invoice posting, aligning with double-entry bookkeeping principles and automating financial operations.
80%
Accrual processing cost
Co-pilot reports all accrued expenses using AI eliminating the need for manual accruals completely
<5%
Variance in accured Vs actual costs
Co-pilot identifies all expenses comprehensively for all type of scenarios through data using AI.
Human Errors
Accrual reversal
Month end closing pressure
Auditability
VALUE PROPOSITION
Why Hyperbots Accruals Co-Pilot
Hyperbots Accruals Co-pilot automates accrual identification, booking, and reversal processes with high configurability and accuracy, ensuring timely and compliant financial reporting while reducing manual effort and errors.
Why Hyperbots Agentic AI Platform?
Finance specific
Hyperbots Agentic AI platform specializes exclusively in finance and accounting intelligence, leveraging millions of data points from invoices, statements, contracts, and other financial documents. No other platform has such large pretrained models on F&A data.
Best-in-class accuracy
Hyperbots achieves 99.8% accuracy in converting unstructured data to structured fields through a multimodal MOE model integrating LLMs, VLMs, and layout models. With contextual validation and augmentations, the platform ensures 100% accuracy for deployed agents.
Synthesis of unstructured and strutured finance data
Hyperbots agents emulate finance professionals to autonomously perform F&A tasks by reading and writing data like COA, expenses, and vendor masters from core accounting systems and integrating it with unstructured data from financial documents such as invoices, POs, and contracts.
Pre-trained agents with state of the art models
Hyperbots' Agentic platform, pre-trained on millions of financial documents like invoices, bills, statements, and contracts, ensures seamless integration, high accuracy, and adaptability to any accounting content, form, layout, or size from day one.
Company specific inference time learning
Hyperbots' Agentic platform employs state-of-the-art Auto ML pipelines with techniques like reinforcement learning to enable inference-time learning for tasks such as GL recommendation and cash outflow forecasting, ensuring continuous improvement and adaptability.
FAQs: GL Posting for Accruals
How does the Hyperbots Accruals Co-Pilot integrate with ERPs for GL posting?
The Co-Pilot uses Hyperbots Connectors to integrate with ERPs, automating invoice writing and GL posting through single-step or two-step processes, ensuring seamless and efficient data flow.
What is the role of read-back validation in the posting process?
After posting, the Co-Pilot reads back the data from the ERP and compares it with the intended entries, ensuring 100% accuracy and promptly flagging any anomalies for resolution.
Does the Co-Pilot ensure compliance with double-entry bookkeeping principles?
Yes, the Co-Pilot leverages the ERP’s built-in debit/credit mechanisms to ensure that all postings adhere to double-entry bookkeeping standards.
How are errors during GL posting identified and addressed?
Any discrepancies detected during validation are flagged, with detailed error logs provided in the Co-Pilot UI for stakeholders to review and resolve, ensuring transparency and accuracy.
Can the Co-Pilot adapt to different ERP systems and workflows?
Absolutely. The Co-Pilot is scalable and adaptable, designed to handle unique posting workflows of various ERP systems like SAP, NetSuite, and QuickBooks, ensuring seamless compatibility.
Ready to take the next steps?
Book a demo with one of our Financial Technology Consultants to get started!