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Knowledge is a key factor for a success story

Written by Philippe Robert on . Posted in Exact Online

If you don’t have knowledge on a specific topic, the best thing to do is try and acquire it from someone else – an expert who can share his knowledge or trainer who can guide you, getting you to the point where you can walk alone.

This is particularly true for accounting. If you are the owner of a small company and want to manage it correctly and make the right decisions, you will need to learn about the financial processes involved. You’ll also probably need advice from an accounting expert regarding your official documents and fiscal requirements. With this mind, Exact Online can be an incredibly valuable tool in the learning process.

After discussion with some training organizations who give classical training on Exact Online for their students, we found that 2 extra functionalities could really help them in their work.

1) VAT overview
When you book invoices in Exact Online, you do it based on VAT codes. When you’re learning VAT topics, it’s helpful to understand how the various VAT boxes are calculated in the process of producing the VAT return.

In Exact Online we already had the VAT overview, allowing you to zoom in to the specific entries associated with each VAT box. However, we saw that it would also be helpful to know the different VAT boxes that are adjusted for each entry. This was not possible in this overview.

That’s why we added the possibility to start this report not only from the VAT boxes, but from the entries themselves. You can now see per entry the VAT boxes that will be updated and the G/L accounts that are used.

2) Template with transactions
When you give training for your students, it is important that you start it based on well-organized, clear materials. You would ideally like to use real cases with real customers and real entries – your own data set as oppose to the set-up demo administration Exact can provide. This dataset would not only include master data, but also some basic transactions – making it easy to get into the bookkeeping right from the start.

In Exact Online we had already the possibility for accountants to define their own administration templates. However, they were only for the master data (GL accounts, VAT codes etc.) and no transactions were included.

To assist in the learning process, we have also added the possibility for accountants to add 2 extra topics in their template companies – The definition of Financial Years and Transactions.

This means that the teacher’s template company can now start with transactions in it, the student able to begin a new administration with the same information included. With more data available to outline how the bookkeeping system works, it’s easier and quicker for the student to begin learning what’s going on.

If you have more suggestions for how we can help you to give training on accountancy using on Exact Online, don’t hesitate to contact us.

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