Accounting entries generation

The automated process of generating the accurate data for posting into your accounting system.

Importance, Challenges and Best Practices

Importance

• Ensures accuracy of reported revenue
• Provides accurate data for financial reporting and analysis
• Supports tax compliance and audit readiness

Challenges:

• Multiple payment channels and partners
• High volume of transactions

Best Practices

• Establish clear standard operating process (SOP) to eliminate key man risk

Allocation of discounts, fees, taxes

With data centrally aggregated in our platform, we can easily categorised the numbers into the right categories and break it down to the lowest granularity for accounts posing.

Here are some examples of the allocation and splits we perform for our customers and is dependent on customer needs

Account receivable calculation

With orders executed at the end of the month and payment the next month, the systems will calculate the receivable based on the order date and the expected value date.

Chart of accounts mapping

Users can maintain their own mapping of charts of accounts direclty in our systems without dependency on us to write a single line of code and regenerate their accounting accordingly.

Generation of accounting upload file

Generated accounting files will be made available as and when required. The upload file will be provided in the format required by the accounting system they upload into.