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Finance

Smarter finance tools are here – explore the Autumn Release features that make reporting, compliance and control easier.

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Enhancement

Approval Workflow for Reconciliation Documents

Ensure compliance with your internal controls by setting up approval workflows for reconciliation statements. Administrators can define who reviews and approves statements, giving the right people the ability to approve or reject as needed.

Feature summary

  • Enhanced internal control: Users can now ensure that all reconciliations are reviewed and approved by the appropriate personnel.
  • Improved financial audit procedures: This enhancement streamlines the audit process, making it easier to track and verify the approval history of reconciliation documents.
  • Segregation of duties: Users can now prevent fraud and error with the segregation of responsibilities for performing and approving reconciliations.

Enhancement

Prepayment Invoices

Easily create prepayment invoices for customer orders with accurate tax calculations. This enhancement ensures GST is reported in the correct period - when the prepayment is received - supporting better compliance and cash flow visibility.

Feature summary

  • Create prepayment invoices: Users can create prepayment invoices for the items and services ordered by customers, calculating taxes on each prepayment invoice.
  • Accurately report on taxes: Allows the company to report on GST in the reporting period of which the prepayment was received.

Enhancement

Matching of Bank Transations to Debit Adjustments

This enhancement lets you match receipt bank transactions directly to debit adjustments from the ‘Match to Invoices’ tab in the Process Bank Transactions form. Prefer automation? Let the system do the work with the auto-matching feature.

Feature summary

  • Enhanced accuracy: Reduced discrepancies and improved financial control
  • Simplified auditing: Users can perform an auto-matching process

Release notes

View the release notes and see specific information about updates to the Finance capability.

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