Suppliers invoices are also called bills in the system to differentiate between customer invoices.
Keeping track of bills allows you to track your company expenses and your cash outflow. Often purchase orders are done before items are delivered and bills are issued. Bills should always be checked against purchase orders. Typically, when you purchase a product or service from a supplier (such as materials for manufacturing or office rental), you are provided with an invoice for payment.
You can upload the basic details of this invoice to Knack. Doing so allows you to generate accurate financial reports, reconciling the bill to purchase order will make sure that the order was made, the price is correct and it ensures that no fraudulent payments can be made to suppliers.
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