finway Product Update:
September 2021

With the latest update, cost centers can be grouped, budgets can be planned by month, expenses can be split and multi-step approval processes can be created. The DATEV integration, vendor rules for faster invoice processing and multi-company capability complete the September update.

Group 1573

DATEV integration

From now on, you can send all relevant bookkeeping information and documents paperless to DATEV Unternehmen Online with just 1 click. DATEV Belegtransfer is no longer required. The DATEV integration reduces the effort and manual mistakes in preparatory accounting to a minimum.

Multistep approval processes

Multistep approval processes

You can map complex approval processes with the help of multi-level workflows. Define triggers (e.g. a specific supplier or cost center), define the request type for which the workflow should apply (e.g. purchase requests) and determine the number and sequence of persons to whom these requests should be approved.

Expense account splits

Expense splits

You can now assign requests and individual line items in requests to different cost centers, cost 2 and expense accounts. This enables a better allocation, e.g. if purchases affect several departments. You can either make the allocation on a percentage basis or set it dedicated for the different items.

Cost Center Grouping

Grouping of cost centers

For a better overview and control as well as detailed reporting, you can group cost centers under an overhead cost center in the future. For example, you can define the cost center Marketing, which in turn consists of the three sub-cost centers Performance Marketing, Events and Social Media. The budget for the overhead cost center is always the sum of the budgets of the sub-cost centers.

Plan budgets flexibly

Advanced budgets

To make your budget planning even more granular and adapt it to your needs, you can enter different budgets for each month. This allows you to cover seasonalities, for example.

Vendor rules

Vendor rules

Vendor rules allow you to process invoices almost fully automatically. Using the rules, you can determine that the appropriate cost center, cost 2 and expense account are already preselected for certain vendors. This minimizes human error and the effort required for certain requests. This is particularly helpful for automatically created virtual cards for purchase requests.

Multi-client capability

Multi-company capability

With the new update, finway becomes multi-company capable. You can now add more companies to your account and thus control everything centrally from one tool.

Net and Gross

Net, Gross & Total for requests

Your requests now include the option to display a total amount. The calculation results either from the sum of the respective individual line items or without individual items. In addition, different tax keys can be taken into account for the individual invoice items if required. However, you can also choose to just add all up to a total amount that provides you with an option to quickly see if all items were read correctly.

Tagging of employees

Tagging function in all requests

You can notify other employees who have access to the respective request, e.g. in case of questions, via @employee.

Compare accounting and cash flow view with performance periods

Performance periods for requests

You can now assign a performance period to your requests to make it even clearer when which service has been or will be provided.

Dupliace Warning

Duplicate check of invoices

finway now checks whether newly uploaded invoices already exist in the system. The system checks the invoice number and the vendor. This way, you can ensure that your account remains clean and no duplicates are created.

Get to know finway

Our experts will guide you through the tool in approx. 30 minutes without obligation and will work out potentials for your company together with you.

  • Insights into the product functions
  • Answers to all your questions
  • Individual advice for you and your team
  • Tanja Reinhardt, Account Executive bei finway
  • Daniel Tichy, Account Executive bei finway
  • Frank Lautenschläger, Account Executive bei finway