Simplify and automate your finances
You’ve asked, we’ve listened! Accounting, our most requested feature, is now live and we are very excited to invite you to this initial release. We’ve made accounting simple to use and understand by you and your team, so you can spend the majority of your time on growing your business rather than admin.
Classic cloud accounting systems were built in the days before automation, when you had to reconcile paper to digital entries, digital entries to bank accounts and then finally reconciling banking entries with accounting. This tedious, time consuming and error-prone process is no longer necessary.
Fiskl’s modern ledger accounting introduces automation and removes most of the steps in this process, by taking your banking information, auto-categorising your entries and displaying everything directly in accounting.
Check out what’s available in this first accounting release 👇
Set up Accounting in just a few clicks
Simply navigate to Accounting in the navigation menu and check out your ready-made Chart of accounts.
Customise it in your own language, change account names or add new accounts in any currency. Already connected banks will automatically trigger the corresponding account creation in Fiskl. Simply open the transaction history for the account to check out the auto-categorised entries. Connect new accounts from banking or import any transaction files into each account.
Easily manage account transactions
Review auto-categorised transactions to make sure you are happy or enter and categorise new account entries as needed. Need to enter an internal transfer? Simply select the corresponding bank account for the transfer and Fiskl will auto record it as an internal transfer and save the exchange rate.
Need to make an account adjustment but worried about which entry is debit or credit? Fiskl simplifies this as well: all you need to decide is whether this is an “IN” transaction (increasing the balance of the account) or “OUT” transaction (decreasing the balance of the account). Then Fiskl assigns it correctly to the ledger and thus accounting becomes easy to understand and hopefully demystified 😉.
There is more: match and split transactions
Sometimes bank transactions are a sum of multiple invoice payments or combined expenses. Fiskl makes splitting transactions and matching with existing entries very easy as it auto searches the system for potential matches. Everything is linked in Fiskl, so you can find the original entry by simply clicking on the link. You can also upload attachments for any entry so your records are easy to audit.
When are Accounting Reports coming
Reports are in the works and coming soon, along with cash or accrual view. We are in the process of testing them thoroughly and polishing up the design. Profit and loss, Tax reports and Balance Sheet are the first in the pipeline and keep an eye on our new release announcements.
And finally: Managing your taxes is now even easier
We have also revamped the tax management to make it simpler to track sales taxes, whether you have a single business entity or more. We added “Tax groups” to make it easier to add compound or multiple taxes to an invoice or an expense. Check it out in the new “Manage taxes” section in the new navigation menu.
From financial first-timers to ace accountants, this is Accounting that works for everyone.
What does it cost? Accounting is available on the Fiskl Pro and Prime plans at no extra cost.
Ready to see just how easy Accounting can be? Get started below.Go to Accounting