XBert Type: Standard
Accounting Software: Xero, MYOB
Country Restriction: AU only
Risk Type: Tax Risk
Business Function: Contacts
Overview
The "Bill Attachment With Cancelled Supplier" XBert checks attachments associated with bills or purchases from suppliers and identifies if any attachments include Australian Business Numbers (ABNs) marked as cancelled. This ensures the accuracy and validity of ABN references in your accounting records.
What it does
This XBert scans attachments linked to bills and purchases to detect any ABNs that have been cancelled. It alerts users when a bill or purchase document includes an invalid or cancelled ABN, indicating potential inaccuracies or outdated supplier information.
How it works
XBert analyses bill attachments when the supplier’s ABN is not recorded in your accounting software. It extracts all ABNs present in the attachment and checks their current status. If one or more of the extracted ABNs are cancelled and cannot be matched to your business’s registered ABN, XBert generates an alert to inform you of this discrepancy.
Example/Use Case
Joe works for ACME Sports (ABN: 12 345 678 901) and processes weekly bills. He enters a bill from John’s Oils (ABN: 98 765 432 101) and uploads an attachment. XBert scans the attachment and identifies a cancelled ABN. Upon reviewing, Joe realises John's Oils has mistakenly recorded ACME’s ABN as 56 785 678 567, which is incorrect. While not a direct issue for ACME, accuracy would improve if John's Oils updated their records.
Similarly, Phil from Joe’s Pies (ABN: 23 456 789 012) mistakenly attaches a document belonging to SomeCo (ABN: 78 978 978 901), which XBert identifies as containing a cancelled ABN, prompting Phil to attach the correct document.
Accounting software
All Australian-compatible accounting software (e.g., Xero, MYOB).
Which countries it supports
Australia only.
Processes
This alert falls under the 'Cleanup' category and specifically addresses accuracy in bookkeeping for purchases/accounts payable (AP). To resolve this issue:
Select "RESOLVE NOW" within XBert to update the tax reference number on the supplier's contact record in your accounting software.
Advise your supplier of any inaccuracies to ensure their records are updated, improving data accuracy and compliance.