Reconciling/specification (Referred to as reconcilliation going forward) between Acubiz and the company's ERP system is basically a check on whether all transactions have been posted and thus checking (reconciling) whether there is a balance between in Acubiz and ERP.
- Specification of debit balance on provision for costs
- Make the reconciliation between Acubiz and ERP
- Reconcilliation pointers
- Reconcile provision for costs
- Reconcile provision to creditor
Specification of debit balance on provision for costs
The balance is an expression that there are costs in Acubiz which are not expensed. Therefore, it is interesting to know what the balance consists of, in relation to having balance costs booked.
Go to FINANCE -> RECONCILIATION -> PROVISION FOR COSTS to see a transaction-based overview. Look especially at whether there are transactions that are of an older date. If there is something out of date, a more specific follow-up may need to be carried out than just waiting for the employee to settle his/her transactions.
Make the reconciliation between Acubiz and ERP
Since Acubiz is a living system where new credit card transactions come in on a daily basis, the picture will look different on a daily basis - in fact also during the day. Therefore, there are points that must be carried out before a correct vote can be taken.
- The area FINANCE --> NOT MATCHED must be empty.
It is important that there are no transactions that are not associated with a user. These transactions are included in Acubiz reconciliation overview for Provision for Creditor, but cannot be exported for accounting in the company's ERP system and will therefore distort the balance picture. Therefore, ensure that automatic matchs have been created on all credit cards.
- All transactions must be exported
It is important that all export files are exported from Acubiz. This applies to Etrans provisions, costs and Etrans invoice export. If they are not exported, they will affect the reconcilliation negatively.
- Everything must be booked
All exported accounting files from Acubiz must be loaded and posted in the company's ERP system before balances on provision accounts are affected correctly. There must therefore be no unposted drafts (unless the ERP system can contain the balance with unposted drafts).
When the above tasks have been carried out, you can agree on the areas you want:
In Acubiz, 2 provision accounts are used for the company's credit card, Provision for operations and Provision for creditor. Depending on the credit card supplier, reconcilliation can be done on one account (provison for cost) or both accounts. The difference consists in whether the credit card supplier delivers the monthly invoice to Acubiz. Not all credit card providers offer to supply data for the monthly invoice from Acubiz. There are 2 different accounting principles regarding whether a monthly invoice is delivered or not. See the accounting principles here
Reconcile provision for costs
Go to: FINANCE --> RECONCILLIATION --> PROVISION FOR COSTS
On the account that is used for provisions for operations in the company's ERP system, the balance balance must be as shown by Acubiz:
The balance for provision for costs is an expression of the transactions which are set aside for costs and thus are not expensed in operation. These transactions are in flow in Acubiz and can be under different statuses such as; ongoing, sent for approval, approved and finance checked (ready for export).
Reconcile provision to creditor
This can only be reconciled if the credit card supplier provides monthly invoice data to Acubiz. If the monthly invoice is not delivered, the balance will never be written down in Acubiz.
Go to: FINANCE --> RECONCILIATION --> PROVISION FOR CREDITOR
On the account that is used for provisions for creditors in the company's ERP system, the balance balance must be as shown by Acubiz:
Provision for creditor is an expression of the transactions which have been consumed since the last invoice and have not yet been invoiced. It is therefore a snapshot of what the invoice from the credit card company will be, as a minimum. These transactions can be at all stages in Acubiz and be exported in costs, and there can be more transactions before the invoice arrives.