Accounting Automation

Get fully automated aggregation, processing, and recording of enterprise-wide financial transactions and achieve 3x+ improvement in accountants' productivity.

Leverage the power of AI, RPA, and OCR techs to drive 2–3x faster and 95%+ more accurate financial document processing with no human involvement.

Remove the most tedious and error-prone part of the accountants’ workflow. Get instant calculation of the required payment amounts and accounting metrics.

Pay up to 12x faster to improve vendor satisfaction and benefit from 40–400% growth in the payment team’s productivity.

Speed up financial close by up to 3x with automated aggregation and multi-way matching of financial transactions.

Employ automation to generate financial reports 3x faster and meet 100% of the reporting compliance requirements.

• Automated creation, updating, and approval of journal entries in the general ledger and subledgers on external and intercompany financial transactions, including multi-currency transactions.
• Customizable journal entry templates for various ledgers.
• Scheduled recurring and reversing journal entries.
• Automated attachment of source documents (invoices, receipts, checks, payroll reports, leases, etc.) to each journal entry.

• Automated consolidation of financial transactions across multiple intercompany ledgers and recording them in GL.
• Rule-based GL coding and transaction classification by category (asset, liability, equity, revenue, expenses, etc.)
• Automated calculation of GL balances.
• Rule-based re-allocation of the accumulated account balances to the branch/subsidiary account balances.

• Template-based invoice generation, including recurring invoices.
• Calculation and application of taxes, discounts (including those on early payments), additional charges (e.g., interest on late payments, insurance, carriage), and billable expenses.
• Automated workflow for multi-department invoice approval.
• Scheduled invoice sending to customers.

• Automated calculation of the received, due and overdue amounts, DSO, A/R turnover ratio, and more.
• Automated payment collection via various payment methods, including bank transfers, wire transfers, ACH, credit cards, checks, or by direct debit.
• Automated allocation of received payments to customer invoices.
• Scheduled collection notifications on due payments to customers (via email, messaging apps).

• Automated calculation of the amounts paid, partially paid, owed, DPO, A/P turnover ratio, etc.
• Automated capture, extraction, and validation of purchase invoice data against the corresponding purchase order data.
• Scheduled payments (to suppliers, vendors, governmental entities, etc.) via a pre-defined payment method.
• Multi-department payment approval.
• Notifications on payment dates.

• Automated capture, extraction, and validation of data provided in receipts on business-related employee expenses (travel, transport, telecoms, etc.).
• Multi-department expense approval.
• Automated generation of expense reports.
• Automated calculation of reimbursement amounts for each employee.
• Automated recording of data on reimbursable employee expenses in the expense ledger and the general ledger.
• Scheduled payments of employee reimbursement.

Calculating, recording, and tracking:

• Original and capitalized value of fixed assets, including those in multiple locations, regions.
• Fixed asset depreciation based on various calculation methods (straight line method, double declining balance method, units of production method, sum-of-the-years’ digits method, etc.), or user-defined depreciation schedules.
• An asset’s tax basis.

• Automated creation of inventory records based on purchase orders.
• Recording and tracking inventory values of inventory items:
  • Across multiple domestic locations, regions, intercompany entities.
  • Across various stages of development and production, such as raw materials, in-progress goods, and finished goods.

• Calculating employee salaries, overtime, bonuses, commissions, deductions, etc.
• Recording and tracking the calculated payroll amounts in the payroll ledger and the general ledger.
• Scheduled payments to employees.

• Calculating VAT, sales, use, withholding, income, and other taxes based on the tax rates in regions a company operates.
• Recording and tracking data on the calculated tax amounts in the tax ledger and the general ledger.
• Automated tax filing under region-specific regulations.
• Scheduled tax payment.

• Automated reconciliation of financial data in bank statements with GL, A/P, and A/R records.
• Automated removal of duplicate transaction records.
• Defining the outstanding transactions.
• Notifications to accountants on reconciliation discrepancies.
• Automated intercompany reconciliation.

• Scheduled financial reports (monthly, quarterly, yearly, etc.) by region, entity, or consolidated reports, including income statement, balance sheet, cash flow statement, tax summary, and more.
• Compliance with GAAP (specifically ASC 606 and IFRS 15), SOC1 and SOC2, SOX, GDPR (for the EU), ZATCA regulations (for Saudi Arabia), industry-specific regulations.