Peparing accounting

Preparatory accounting made quickly and easily

With finway you get to the month-end closing stress-free and without errors and make the work of tax advisors and accountants easier.

Put an end to unnecessary document searches

With finway, you never have to chase missing invoices or receipts again.

Integrated into a holistic tool

Automated receipt allocation, simple reimbursements and fast pre-accounting – all in one software.

Hassle-free to the end of the month

Thanks to automated workflows, you quickly achieve clarity on all receipts and transactions.

Transactions are automatically assigned to the receipts

Automated allocation of receipt and transaction

You import all transactions into your account via the bank interface or via CSV. finway automatically matches the transactions with the matching receipts and incoming invoices and alerts you to missing receipts. In case of missing invoices, the responsible employees automatically receive a note to upload the corresponding document. In this way, you can quickly and easily complete the pre-accounting of your receipts without overlooking anything.

Pay open invoices directly from the tool

Direct online transfer of open invoices

Connect your existing bank account to finway and pay open amounts via your bank account directly from our tool. You do not have to leave the software or log into your online banking. finway supports the connection of more than 2,700 banks. Open invoices are always displayed in finway including the corresponding due date.

Simple reimbursement of outstanding expenses

Simple reimbursement of cash expenses or travel costs

Whether it’s travel expense reimbursements or the reimbursement of cash expenses – with finway, your employees can submit reimbursement requests with the corresponding receipts quickly and easily. This way, you manage all expenses in one tool and can reimburse them directly to your employees.

Assign cost centres and G/L accounts easily

Quickly pre-account cost centres and G/L accounts.

Allocate all expenses to the appropriate G/L accounts and cost centres and leave additional notes if necessary. This will enable your tax advisors or the accounting department to correctly account for and post the business transactions.

1-Click Export to DATEV Unternehmen Online

1-Click Export to DATEV Unternehmen Online

With one click you export all document images and booking information for upload to DATEV Unternehmen Online. The DATEV export contains invoice data relevant for accounting in DATEV, such as payment date, amount, VAT rate, invoice number, cost centre or pre-assigned G/L account.

Save all invoices indefinitely

GoBD-compliant processes and document storage

finway meets the criteria for GoBD-compliant accounting, document storage and archiving. In this way, you comply with legal retention periods at all times and have the required documents at hand in the event of possible company audits.

What are the tasks of preparatory accounting?

The aim of preparatory accounting is to collect and sort all documents required for tax returns and monthly financial statements, such as receipts and invoices, in a complete, clear and structured manner and to hand them over to the tax advisor or the internal accounting department for further processing.

Recording and pre-accounting of receipts and incoming invoices

For every payment transaction in the company there is also a corresponding receipt. This means that, as a first step, all receipts and invoices in the company must be collected centrally. In order to facilitate the work of the tax advisor, it is helpful to assign vouchers and invoices to the appropriate transactions as part of the preparatory accounting. In finway, you import your transactions into the software and the tool automatically matches your vouchers with the corresponding payment transactions.

Pre-accounting and equipping the vouchers with additional information

Account assignment is used in bookkeeping to decide to which accounts individual business transactions are posted. The preliminary account assignment, in turn, precedes the account assignment and includes activities that enable the correct posting by the tax advisor or accountant. The preliminary account assignment enables them to recognise which account must be addressed for the posting. The initial account assignment usually includes information on the respective cost centres, the G/L accounts addressed and the associated tax rates. A proper initial account assignment reduces the risk of possible incorrect postings or costs arising from queries by external tax advisors. While in many companies the preliminary account assignment is still carried out by means of an account assignment stamp, you can do this digitally with a tool such as finway.

DATEV export and transfer to accounting or tax advisors

You then hand over the collected, sorted and pre-accounted documents to your tax advisor or your accounting department. With the help of a DATEV export, you can export accounting transactions and then import them into DATEV Unternehmen Online using the document transfer function. With finway, the export contains all previously entered data such as invoice number, amount, VAT, payment date, cost centre and assigned G/L account, which are required for correct accounting.

FAQ about preparatory accounting

What is preparatory accounting?

In most companies, accounting must be done every month in order to submit it to the responsible tax office. Bookkeeping/accounting tasks include, among other things, the accounting of income and expenditure, advance turnover tax returns or invoicing. Larger companies often have their own accounting departments, while in smaller and medium-sized companies accounting is often done by external tax consultants.

Even in the case of a tax consultant, bookkeeping is still usually prepared internally by the company. The so-called preparatory bookkeeping basically includes all activities to prepare all relevant documents for further processing. On the basis of these documents, the monthly financial statements and, if necessary, an economic evaluation (BWA) or advance VAT return are then prepared. With a thorough preparation of the bookkeeping, you make the work of your tax advisor or your colleagues in the accounting department considerably easier and also save them a lot of time.

How can you prepare accounting with finway?

With finway, preparatory accounting is integrated into a holistic solution that encompasses your complete expense management. Thanks to digital invoice processing, you enter and process all incoming invoices centrally in finway. Our software automatically reads out all relevant data using OCR, so you don’t have to type out the invoice data manually. Because you involve all the necessary staff in the process at an early stage, you don’t have to chase missing invoices and receipts at the end of the month. Your team is automatically reminded to upload missing documents. The payment of open amounts and the pre-accounting as well as the enrichment of your accounting transactions can also be done directly in finway, in order to close the month with the export of the receipts.

This way, you go through all the necessary process steps in one integrated tool and achieve more clarity and efficiency in your preparatory accounting without media discontinuity.

What are the advantages of a digital tool for preparatory accounting?

With software like finway, you can efficiently and easily prepare bookkeeping for your tax advisor or accounting department without handing over binders or paper folders at the end of the month. Prepare your bookkeeping digitally and error-free, saving costs, time and resources that you can use for more important tasks. With a digital solution and automated workflows, you also improve and simplify the cooperation with your tax advisor and the accounting department.

With finway, there will be no stress at the end of the month with the preparatory accounting – because all the necessary steps, such as uploading and paying incoming invoices, are taken care of by you in your everyday work, while the software takes care of the rest, such as matching invoices and expenses and the DATEV export. It almost couldn’t be simpler. Our experts will be happy to show you in a free demo how easy and clear finances can be!

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