finway Product Update: September 2022

The audit trail takes your internal control system to the next level, and automated matching of invoices and requests to transactions saves you time and effort. Read all about these and many other innovations here.

Easily transfer your booking text to DATEV

Datev booking text

The export to Datev Unternehmen Online (DUO) is further optimized – you now have the possibility to transfer DATEV booking texts according to your needs. For this purpose, the DUO settings in the company settings have been extended to include the booking text. You can configure the DATEV booking text independently of the DATEV note.

Use the audit trail to improve your internal controlling

Create an audit trail easily with finway

The audit trail is a change log, i.e., a record of all changes made to your document data. In finway, a PDF file containing this information is generated automatically and can either be downloaded separately, or exported by default as a second document page (to DUO, among others). In all places in finway where invoices can be downloaded, you can also download the audit trail separately at any time.
The PDF export contains the following information:

  • All general information about the request (e.g., cost centers, gross amount, supplier, etc.)
  • Comments (including all system-generated comments) added to the application in finway
  • Headers, footers, and page numbers to track whether a document is complete
  • An additional comment, if the audit trail was previously downloaded separately

This way, all information can now be transferred to DUO, plus the file is helpful for your internal control system.

Improvements around the topic export

  • DUO, DATEV XML, CSV – how did I export my data? This question is now a thing of the past, as you can use tags to see which formats have already been exported.
  • Adjustments in the export filter in the All-Tab: In the export filter (in the All-Tab via the Export button) you can define the status of an application: By selecting the export format, the appropriate statuses are suggested to you directly. In addition, you can select whether the status of the exported applications should be updated automatically or not when using the All-Tab.
  • Adjustments in the Pay & Export section: The export in the “All formats” export no longer includes DATEV exports (DUO or DATEV XML and no longer updates the status from paid to exported (neither does the export of invoices). In addition, the “to export” table gives you the option to export applications across multiple pages yourself.
  • Automated naming of CSV exports: The file names of the CSV export are now formed from company names, sub-company names and the date of the export. In this way, you can track in your downloads directly via the name of the files to which company and to which time period the data belongs.

Improvements around the import topic

  • Naming of CSV imports: CSV imports can now be renamed. This helps you find your way around the imports more quickly and keeps you on top of things.
  • Simply flip the sign via a toggle: We have good news for all AMEX users – you can easily reverse the signs via a toggle in the dashboard and thus import your data correctly into finway.
  • Data validation on import: If you import data into finway yourself, the data will be validated on upload. You will be informed which lines of your import file contain incorrect data (e.g., email addresses that are duplicates) so that you can fix any errors before importing. If you import the data anyway, you can use the upload report to see which data was not imported into finway due to lack of validation.
  • Import history: When importing data (Settings > Tool settings and security> Data import), there is now the option to view the upload history. This allows you to track which colleague imported data into finway and when, and to view and download both the original file and the upload report.
Invoices and transactions now get auto-matched to a request

Automated expense management

We are working diligently to automate spend management with finway more and more. With invoice matching and auto-matching of transactions, you save manual effort and can spend more time on your day-to-day business.

Automated matching of invoices and requests

An algorithm calculates the probability of matching invoices and requests in finway. If you have the auto-matching feature enabled, when there is a 100% match, the invoice, and request will be matched directly without any action on your part. Regardless of auto-matching, percentages of invoice and request match are displayed in descending order, so you can match request and invoice much faster here as well.

Auto-matching of transactions and requests

When you make your transactions from finway, they are automatically matched to an existing request (provided that the necessary data for matching is fed back from the respective bank – this applies to very many, but unfortunately not all banks).

Get to know finway more easily with the new product tours

Find your way around finway more easily with the new product tours

You have not been using finway for a long time? Then our new product tours are especially helpful for you. For example, let us guide you through the dashboard or go through the most important settings in your finway account. Don’t worry, our customer support will not change, our colleagues can still be reached personally at any time. You are already a pro in finway, but you have ideas where you would find product tours especially helpful? We look forward to your feedback!
You can find the product tours after logging in by clicking on the button at the bottom left.

See requests in which you have been tagged, independent of viewing rights

Regardless of the finway role, users can now view the requests in which they have been tagged: If a:user:is tagged in a request that she cannot actually view, she will be granted viewing (and commenting) rights for that request from now on, simplifying collaboration in finway.

Restrict the creation of vendors as needed

For some of our customers, it is important to restrict the creation of new vendors to admin roles only, in order to better control the creation of new vendors and to better avoid duplicates. For this, we support you with 2 new features:

Suggest vendors

Admins can now activate the function that approvers and employees can only suggest vendors, but not create them directly. Only after a suggested vendor has been approved by an admin, it will be added to the list of vendors.

Duplicate check when creating vendors

When you create a new vendor, a duplicate check takes place and possible duplicates are displayed. Based on the list, you can decide whether you still want to create (or suggest) a new vendor or select one of the existing vendors from the list.

UI improvements

No more rounding errors with optimized invoice split

When you split invoices by percentage, for example by cost centers, cost units or G/L accounts, rounding errors can occur, as non-round amounts often cannot be split without rounding. The same issue can occur when calculating VAT, as it can be calculated for the full amount or on a per-item basis. While finway has also previously automatically corrected rounding errors for transfer to DUO, warnings in the form of banners are now issued for CSV exports if the invoice and application amounts do not match, allowing you to manually adjust the amounts before exporting.

Create as many subcompanies as you want

We have removed the limit on sub-companies, you can now create more than 100 related companies. To help you still find your company quickly, we’ve added a search function to the subcompany dropdown.

Travel expense management tags

Instead of the reimbursement tag, we now use tags that specify the type of reimbursement. For example, reimbursement for entertainment will now be tagged “Reimbursement Entertainment” instead of “Reimbursement” and you will directly get a better overview of the different reimbursement requests.

Approvers from other teams

If you have activated the option “allow workflow adjustments” in the company settings, it was previously the case that requestors could only select approvers from their own team as alternative approvers. This has been adjusted so that when customizing workflows in the request, approvers from other teams can now also be selected, giving this company setting more flexibility.

Notation of the upload of documents

To make the approval process more transparent, the time at which a document was uploaded is noted and included in the system-generated comments so that it can be tracked at a later date. In combination with the audit trail, the upload time of invoices can thus also be exported to DUO, for example.

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
  • Selina Fendt
  • Philipp Wendeln
  • Tanja Reinhardt