AI Invoice & Receipt Processing for Accounting Automation

Minimalist infographic showing an automated document processing workflow, where a physical document is transformed through a gear-and-circuit AI icon into structured digital text data.

The Challenge: Eliminating Manual Data Entry in Accounting

Our client wanted to use AI to automatically extract data from invoices and receipts. The extracted data can then be programmatically added to an accounting software such as Quickbooks. This eliminates the need for manual data entry - which is significant for larger companies that may need to process hundreds of invoices and receipts on a recurring basis.

Our Solution: Multi-Stage IDP with Structured OCR

Recognizing the need for a solution that handles varied document formats, we engineered a robust Intelligent Document Processing (IDP) solution using a multi-stage AI-based approach.

In the first stage, an AI model detected the layout of the invoice, including identifying header and footer fields and item tables. Each section was independently passed to an OCR model. For the item table, we used an OCR model specifically trained to understand and preserve the structure of the table (i.e., its rows and columns).

Key Features of Our Accounting IDP Solution

Automatically extract information such as billing address, due date, invoice date, and line items.

Provide the location of each extracted information (e.g., where the billing address is written) to allow users to quickly confirm that the information is correct, avoiding the need to scan the entire invoice.

Results & End-to-End Automation

Our solution achieved:

Near-perfect accuracy for most invoices and receipts, including scanned ones.
Complete, end-to-end automation of the workflow, from document intake to data validation and direct integration with Quickbooks and custom accounting systems.

This automation eliminated manual workload, allowing the client to scale their operations with confidence. At AxcelerateAI, we build custom OCR/IDP models tailored to your specific financial documents, ensuring maximum accuracy from day one. Ready to eliminate manual data entry and save thousands of hours monthly? Contact us to transform your accounting automation.

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