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More new financial development on the horizon

Written by Ilja Udo on . Posted in Exact Online

In previous blogs What a wonderful world… and Don’t spend any more time on manual invoice entry  the new scanning functionality was introduced.  A beautiful way to save time. Time that you can now spend on your core business. So…what else do we have on the agenda to support your bookkeeping process?

We are working on a solution where you only have to enter financial basics like

  • for who (customer/supplier),
  • when (date) and
  • what (subject and  total amount)

when a financial entry needs to be created. Exact Online does the rest!

How?
For often used financial entries it becomes possible to create templates. Known financial data like general ledger accounts, cost centers or cost units can be filled in. Further you can indicate how line amounts must be calculated.
Because essential data is already known at the moment a financial entry is created, using a template saves you time.
Furthermore, when the same financial entry occurs more then once, a template ensures that entries are created along the same line and reduces the likelihood of you making mistakes.

Where is it useful?
Let’s give a few examples where we think we can help you save time:

Imagine… you receive an invoice from the telephone company. You receive it every month, only the actual costs differ. The specification shows costs for subscriptions, actual phone costs, mobile phone costs, use of Internet etcetera. If the general ledger accounts are predefined per cost type and if the distribution of the costs is also known beforehand, entering the total amount will be sufficient to create the entire entry!

Imagine… you have a web shop and the invoicing is done by Visa. 2 % of each invoice goes to Visa, the rest considered turnover. 
When you can define this division as a fixed portion booked for Visa and the remainder as turnover beforehand, you’ll never have to divide the invoice up manually again.

Image… you have visited a gas station. You want to enter the bill directly into your Exact Online administration via your mobile phone app. You just have to enter which amount you have spent on what and where  (e.g. 100 euros for fuel at Shell) and the administration will do the rest!  

Can we make it easier still?
The new functionality will be introduced gradually in phases. Any feedback is welcome, just reply on this post.

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