invoice processing management


Enhance your business with our variety of programs

Freight Invoice Auditing

invoice_processingFreight Invoice Processing/Auditing is a time-consuming, expensive and confusing part of the accounts payable process. Errors in billing increase as service and price increases. Market research has found that at least 30% of all freight invoices have errors and that each freight bill has an average cost to businesses of $10.50 for acknowledging, entering, auditing, and payment. Due to the time and energy required to accurately audit freight invoices they often end up with someone with little or no experience in freight invoice auditing or they are not audited at all. Auditing freight bills is not seen as a priority for most companies. With no audit and charge-back process this can add to the bottom line and reduces your company’s margin as well as inflating transportation spend compared with what was budgeted.

When you have someone with experience and expertise in freight invoice processing it can significantly reduce those errors and in turn reduce your bottom line. Outsourcing your freight invoice auditing can save time and money over internal auditing procedures. AIM Global Financial, LLC can audit your freight bills for a small fee. AIM looks for correct classification of freight, delivery commitments, chargeable weight and discounts and surcharges according to negotiated rates. All invoices will be reported so you can track and analyze your company’s transportation spend. We not only audit for errors, we review the invoices for patterns and synergies and provide recommendations that will result in savings and/or efficiency.

Call or email us today to schedule your complimentary analysis of your current transportation processing that can result in significant savings.

Understanding the Review process

Invoices are reviewed for compliance with contract terms and conditions before payment. If the accounts payable system does not reflect receipt or if other discrepancies exist, approval for payment is requested from the Customer who established the contract. The requestor may instruct Accounts Payable to pay, reject, or reduce the invoice.

Invoices that are rejected or reduced

Rejection or reduction of invoices are based on the review process described above.
Possible reasons for rejected invoices could be:

  • We are unable to match the line items being billed to the purchase order.
  • For electronic invoices submitted directly by the supplier, an invoice image was not uploaded to the invoice record.
  • The amount being billed exceeds the purchase order amount.
  • The invoice does not have a unique number. Every invoice from a particular supplier needs to have a unique number.
  • The invoice does not have a purchase order number on it and cannot be matched.
  • The supplier name on the invoice does not match the supplier on the purchase order.
  • The contract has expired.

Reasons for reduction could be:

  • The invoice does not have sufficient backup documentation. Freight charges must be accompanied by the freight carrier invoice and backup documentation.
  • Quantity shipped and billed is greater than quantity ordered on the purchase order.
  • Hourly rate listed is higher than that on the purchase order.

If your invoice is either rejected or reduced, it will be reflected on your payment remittance. If you have further inquiries about a rejected or reduced invoice, contact our office today at 713-489-8911