TieotiliOnline offers financial administration services through a web portal. Even though the software is user friendly, the greatest advantage can be acquired after a few intensive training sessions.
The software consists of multiple interlinked modules that process different functions. We have developed a fast training program in which the used modules are practiced with an instructor. After the guided sessions, you will step-by-step, learn how to navigate through the modules in a productive manner.
It is important that all the contracts with operators and banks are in place before the start of the training. After the all the details have been taken care of, implementation of TietotiliOnline as the main financial administration system can begin.
Purchase invoice processing
It is desirable to receive all invoices as e-invoices, and suppliers should be persuaded to start using Finvoices for sale invoices. The remaining invoices that are delivered by post carrier should be directed straight to the daily service team at Tietotili. The paper invoices are scanned, interpreted, placed in their right accounts and digitally forwarded to the client for verification purposes. E-invoices are retrieved from the operator overnight.
All received invoices and payable taxes should be processed through the purchase ledger. Verified invoices are transferred automatically to the purchase ledger and accounting. Payments should be conducted in the TietotiliOnline to ensure that transactions are allocated to their correct accounts and the purchase ledger.
The way purchase invoices are processed makes a big difference. Thoughtful planning of the verification chain can save a lot of time. Cost centers should have appointed correspondents to whom the invoices are forwarded for verification. Once the verification chain reaches the end, the invoice is vouched for payment and recorded in the ledger.
The client’s representative makes all payments with the TietotiliOnline software. To be able to make payments, user identities and passwords are made for security reasons, the payments are verified according to bank requirements.
TietotiliOnline allows our clients to use multiple bank accounts and make real-time balance and transaction inquiry’s. The software also enables international payments.
Payments can be easily planned by using the real-time cash-flow and liquidity forecasts.
Transactions are commissioned to the banks in installments. The commissioned transactions are automatically logged when the account statements are dissembled. Once the installments are forwarded to the bank, no changes can be made to its contents. The payment representative needs to take into consideration payment deadlines when making periodical installments to prevent possible interests.
So-called cash payments that are paid straight from the bank account can be processed into TietotiliOnline.
Principally payments should be dispatched from the purchase ledger because cash payments require additional manual accounting work which constitutes for additional costs.
Foreign payments can be dispatched from TietotiliOnline as effortlessly as domestic payments.
Crafting sale invoices
Our clients can produce sale invoices conveniently with the respective module. Recurring invoices can be set to dispatch at a certain date each month, individual and contract based invoices can be divided accordingly. The invoice module beholds a registrar of customers which is used to direct the invoices to the appropriate receiver. The invoices can be delivered as e-invoices, paper invoices, or via e-mail.
Invoices transfer to the sale ledger automatically once they are delivered to the operator
Transactions with the appropriate reference information are entered into the accounts upon bank statement disassembly, and invoices without reference information must be entered manually.
Online reports and monthly reports
Our software can construct real-time reports according to chosen criteria. This accounts for the biggest advantage of our software in relation to traditional accounting services. Previously, the monthly books had to be finished, before any reports could be made available.
The reports that are based in real-time information are called online reports. Majority of the transactions are recorded on a daily bases which makes it possible to execute reports with current information. Online reports are good tools for following the revenue trajectory, and debts. For a comprehensive outlook of a company’s financial situation they do not suffice. For that purpose monthly cut-offs need to be made for the purpose of data reconciliation.
Accounting reports are not solely based on current transaction entries. In addition, managerial information about depreciation, deferrals, and other entries that require monthly treatment are essential. The monthly reports include all the deferred information and exhibit all the details of the finances for an exact outlook. These reports are devised by your accountant each month.
Monthly reports give a accurate depiction of the finances
Monthly reports are created by our accountants to ensure their accuracy. The monthly reports show the financial position at a larger scale than daily reports, and provide reliable indicators that portray the finances in their entirety.
Information exchange between programs
TietotiliOnline is built to interlink with multiple different systems, and almost all the information can be read to Excel spreadsheets with a few clicks of a button.
We have prefabricated interfaces to many ERP systems, and the financial administration part can be easily connected them. The daily operations can be conducted with a separate system that transfers the information reliably to TietotiliOnline.