GL Coding service
Reengineer your shipping GL coding processes
General Ledger Coding makes financial reporting more precise. However, many businesses struggle with the administrative strain and complexity that comes with it. Especially in the case of FedEx, UPS and DHL invoices.
The Share a Refund General Ledger Coding service (GLC) automates the process of general ledger coding even on the messiest freight invoices. GLC handles the most complex GL coding logic like a pro.
A new standard for GL Coding of freight invoices
How it worksGL Coding Rules created within the GLC section of your Share a Refund account govern how shipping charges are routed into cost centers and work together to handle exceptions seamlessly. Once the GL coding rules are set, GLC matches invoice data with internal codes, validating each cost component.
Take for example GL coding logic that targets the reference field on a shipping invoice, and a one-off shipment with a missing reference field. This creates a problem. The shipment is not easily coded. The shipment must be reconciled manually or it’s routed to the incorrect cost center. With GLC, a secondary rule targeting a different attribute of the shipment routes the shipment into the correct cost center.
How secondary rules workThink of linked rules like lower priority rules that target other attributes of a shipment to help handle the exceptions. In the case of the GL code example above, where the reference field is missing, a secondary rule targeting the ship-from-location correctly routes the charges into the appropriate cost center.
Attributes available for coding logic
- Account Number
- Payment Type
- Sender Name
- Sender Company
- Sender Address
- Sender City
- Sender State
- Sender Postal Code
- Sender Country
- Receiver Name
- Receiver Company
- Receiver Address
- Receiver City
- Receiver State
- Receiver Postal Code
- Receiver Country
- Reference Notes
GL account code logic for attributes
- Match All
- Match Any
- Match None
- Begins With
- Ends With
- Matches Wildcards
- Is Empty
- Doesn’t Begin With
- Doesn’t Contain
- Doesn’t End With
- Doesn’t Equal
- Doesn’t Match Wildcards
- Isn’t Empty
- Completely automates GL Coding
- Handles messy invoices like a pro
- Supports multiple bank accounts
- No limits on the number of GL account codes
- No setup fees or start-up costs
- Uses linked rules to handle exceptions
- Scheduled reports sent weekly
- Supports even the most complex GL account code structure
- Invoice consolidation (IPR)
For scaled operations, the time savings from GLC is enormous. High-volume shippers perform manual research and give attention to thousands of exceptions weekly. GLC identifies missing reference fields and applies intelligent automation to route values to the correct field and significantly reduce the number of exceptions. GL coding service puts the cost accounting of your shipping invoices on autopilot.
With an integrated General Ledger, key decision makers have immediate access to accurate financials to make strategic moves and accounts payable has created a more agile environment
GLC guarantees data integrity, aligns cost center information with invoice data, and ensures financial compliance. Use the GLC service to build queries, view real-time financials and pull ad-hoc reports for deep dives into financial records. GLC accelerates reconciliation, amplifies financial transparency and enables businesses to meet internal and external reporting requirements.
“Share a Refund GLC has lowered my stress levels! I’ve spent less time on data maintenance and more time on turning the data into actionable insights for my business.”Samantha R., Accounts Payable Coordinator
Pricing terms tailored to your business needs
Share a Refund believes pricing should be simple. There are no onboarding fees or surprising charges. The Per cost component pricing model defined within the table below is a per unit pricing model. Examples of cost components found on freight invoices include any of the following (e.g. Transportation charges, Performance discount, Fuel surcharges, residential surcharges, etc.). Each cost component is the per unit, per transaction fee for GL Coding that cost component.