Simfuni is able to provide accurate, comprehensive accounting extracts for uploading into external Finance software.
Account prerequisites:
- User permissions: Finance read or Finance update
- The Accounting feature configured by Simfuni
In order to ensure the accounting extracts are accurate, Simfuni will start by configuring your organization's Chart of Accounts hierarchy within the platform. Following this, each transaction type will be mapped to the corresponding debit and credit accounts - this process includes mapping several default system transactions, as well as any manual transactions your organization may need. Mapping manual transactions means that any external payments or refunds, i.e. payments made outside the Simfuni platform and then reconciled manually with a policy, are accurately recorded in both the General Ledger and Trial Balance. More information on adding external transactions to a policy can be found here.
After this set-up is complete, every transaction that is either automatically processed or manually entered against a policy is added to both the balance totals and the downloadable csv files. Any team member with the Finance read permission can access the Finance page and download the csv extracts, but they must also have the Finance update permission assigned in order to close the accounting period. The accounting period does not automatically close - it can be manually closed on whatever cadence is necessary.
Please ensure that any outstanding external transactions or direct credit payments have been reconciled to policies, and the General Ledger and Trial Balance csv extracts have been downloaded, before closing the accounting period. The General Ledger and Trial Balances cannot be adjusted or re-downloaded after the accounting period is closed.