Invoice data extraction is a critical part of bookkeeping if your objectives are automation, visibility, and control of the company spend. Envoice offers two different data extraction services, where one is managed by our machine learning system and the second option adds a human touch to the extracted data.
Data extraction service types
SmartExtract (Default): This service uses machine learning to intelligently read and understand your invoices, no matter the layout. It captures the relevant data in just a few seconds to a couple of minutes. Once it's done, you simply review and verify the information before applying any of your automation tools.
ExactExtract (Optional Add-on): For an extra layer of accuracy, you can add human verification to SmartExtract. Our team will review, correct, and confirm the extracted data before it reaches your dashboard. Because the data is already double-checked, you can completely automate your next steps, letting your coding, business controls, and approval workflows trigger immediately.
Extracted supplier and vendor data
| Field | Description |
| Company Name | Supplier name normalized - Company Ltd. (or Gmbh, OY, ...) |
| Company Address | The physical location of the supplier. |
| Company Country | The country of the supplier. |
| Registration Number | The official company registration code. |
| Tax Identification Number | e.g., VAT Number, GST Number, TIN. |
| Payment Receiver | Provided if it differs from the supplier name. |
| Bank Account Number | If no user preferences are defined, the account number of the first bank on the invoice is captured. |
| BIC/SWIFT | The bank identifier code. |
Extracted invoice data
| Field | Description |
| Invoice Type | Invoice or Credit Note. |
| Invoice No | If missing, the order no, booking no, or invoice date is provided. |
| Invoice Date | If missing, the invoice receiving date is provided. |
| Due Date | The invoice date is provided if the due date is missing. |
| Bank Reference Number | Payment Reference Number - can be used to identify the invoice for which the payment is made. |
| Invoice Description | The description of the first line item is replaced with "Service / Goods". |
| Line Items data | Optional service. (See the Line Item Extraction section below). |
| Total Net Amount | Split by tax rate. |
| Tax Rates & Amounts | Tax amounts split by tax rate. Envoice verifies extracted tax amounts. If the invoice issuer has summed line item tax amounts, the total tax amount may differ from the tax calculated from the total amount and tax rate. In such cases, Envoice provides the tax amounts and total amount presented on the invoice, but an additional rounding line will be added. |
| Total Amount | Envoice may calculate document totals in ways that are slightly different to other applications. If the sum of the tax amount and total net amount do not add up to the Total amount, a rounding line item is provided. |
| Currency | If missing, 1. vendor local currency or 2. company account local currency is provided. |
Line item extraction details
Line item extraction is an additional service that can be enabled only if the verified data extraction service ExactExtract is enabled.
Line item extraction can be enabled as a Supplier-based service (user configurable on the supplier's contact details). The data extracted and presented for line items depends on user preferences. If the Item details view is enabled globally as a company preference or just for selected vendors, specific unit fields are extracted.
| Field | Description |
| Description | The description of the specific line item. |
| Quantity* | Item view only. |
| Unit Price* | Item view only. |
| Unit* | Item view only. It will be matched to the Units registry in the Envoice company account. |
| Amount | The total amount for that line item. |
| Tax Rate | The tax rate applied to that line item. |
(Note: Fields marked with * are only extracted if the Item view is allowed. For Units, only the units configured on the company account are used as a unit).