GL Posting
The Hyperbots Payment Co-Pilot updates the GL for payments at all appropriate places like cash accounts and Accounts Payable accounts.
Key Features
Automatic GL posting
The co-pilot leverages the agentic AI platform to automatically pre-fill General Ledger (GL) codes based on payment accounts and respective invoice line item GL accounts
Pre-trained on line items and codes
The system is pre-trained on extensive datasets of line items and corresponding GL codes, enabling accurate and reliable code recommendations tailored to specific procurement needs.
Reduced manual effort
By automating the GL code assignment, the co-pilot significantly reduces the effort required by individuals to manually search and enter appropriate codes, streamlining the PR creation process.
Seamless ERP Integration
The Co-pilot integrates with ERPs via Hyperbots connectors, enabling automated invoice writing and GL posting. Integration supports both single-step and two-step processes, depending on the ERP.
Override capability for flexibility
Users retain full control by having the ability to override the automatically recommended GL codes within the PR user interface, allowing for adjustments and custom allocations as needed.
Enhanced accuracy and compliance
Automated pre-filling minimizes human errors in GL code entry, ensuring that expenses are accurately allocated and compliant with financial policies and accounting standards.
10%
Cash outflow
Co-pilot optimizes payment timings and methods, analysing
payment terms, discounts, penalties and, cost of capital
Vendor satisfaction
Vendors have higher satisfaction as they know real-time status of invoice processing and payments
Auditability
Human Errors
Approvals
Reconciliations & Other KPIs
VALUE PROPOSITION
Why Hyperbots Payments
Co-Pilot?
Hyperbots Payments Co-pilot automates payment processing with features like timing recommendations, approval workflows, and multi-method support (ACH, checks, wire transfers), ensuring secure, efficient, and compliant financial operations.
Before and After Hyperbots Payments Co-Pilot
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
How does the Co-pilot update GL accounts after a payment is made?
The Co-pilot automatically updates cash or credit accounts upon payment, ensuring the company’s financial records are accurate and up-to-date.
Does the Co-pilot handle updates to Accounts Payable (AP)?
Yes, the Co-pilot updates AP accounts for each invoice line item associated with the payment, reflecting the reduction in liabilities accurately.
Are GL updates aligned with the specific payment method used?
Absolutely, the Co-pilot ensures that GL entries reflect the payment method, such as ACH, check, or wire transfer, maintaining consistency in financial reporting.
Can the Co-pilot manage GL updates for multi-invoice payments?
Yes, the Co-pilot handles payments involving multiple invoices, updating the GL for each line item associated with the payment.
Does the Co-pilot log GL updates for audit purposes?
Yes, the Co-pilot maintains an audit trail for all GL updates, including details such as payment method, associated invoices, and timestamps, ensuring transparency and accountability.
Ready to take the next steps?
Book a demo with one of our Financial Technology Consultants to get started!