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Accounting

Overview

FA’s Accounting transforms your transaction data automatically into accounting entries, which can then be directly exported to your accounting system. FA’s Accounting also automates your end-of-period calculations.

Functionality

Define and manage your accounting rules

  • Create, modify and delete bookkeeping accounts - define sets of bookkeeping accounts with the bookkeeping account number and name to record your accounting entries to correct bookkeeping accounts.

  • Create, modify and delete posting rules - define posting rules that are applied when the system creates accounting entries when you save a transaction. Each posting rule tells the system how to break down your transaction's values into individual accounting entries, postings. For each posting, you can select which bookkeeping account it is recorded to, whether the posting is based on transaction date or settlement date, and whether the value is recorded as debit or credit. You can group individual posting rules to sets of rules, and maintain multiple sets simultaneously.

  • Define posting rules for different levels with different criteria - select what type of transactions an individual posting rule is applied for (such as "buy", "sell" or "dividend") - a rule can be applied to all transactions of the type, or narrowed to specific securities with security-related criteria, such as Security type, Country, Market place, Classifications or Issuer.

  • Select which transaction values to include in the entry - define the value of your accounting entry by summing or subtracting values you have stored on your transaction. You can use for example price, purchase price (with or without costs), taxes, costs accrued interest, profit and loss (with or without costs), currency profit and loss, or nominal value to calculate your posting's value.

  • Linking posting rules to your portfolios - decide per portfolio which posting rule sets to use to produce accounting material from that portfolio's transactions.

Generate accounting entries based on your transactions

  • Generate postings automatically based on your transactions - every time you save or modify a transaction, your transaction is run through your posting rules, and accounting entries are created based on the transaction's values.

  • Control the currency of your postings' values - by default, postings are created in portfolio currency. In addition, you can choose to create postings in account currency, security currency or in other currencies of your choice.

  • Search for postings - after postings have been generated, you can view them on different levels: you can see postings generated per each transaction, each customer or portfolio, or all postings generated in the system.

  • Modify postings automatically or manually - every time you modify a transaction, all affected postings are re-generated when necessary - only if values related to the postings have changed. In addition, you can manually modify postings' information.

  • Change the status of your postings to mark them as reported - status of your posting corresponds with your transaction's status, and you can mass-update the status of multiple postings at once. In addition, you can mark you postings as "reported" to lock them from further changes, to indicate you have reported the posting to your accounting system.

  • Revert posting that have been already reported - if you modify a transactions so that it would change postings you have already marked as reported, the system automatically generates counter-postings to revert the effect of postings that were already reported, and new postings to update the changes to your bookkeeping.

Export your accounting material to your accounting system

  • Export postings with standard export format - you can export your accounting material in our standard export formats, and upload the material to your accounting system. Your postings can be automatically marked as "Reported" after you have exported them from the system. See below for available standard export formats.

  • Export postings with your own export format - if our standard export formats don't cover your needs, a we can tailor custom export format to match with your accounting system's needs.

Calculate deferrals and valuations at year-end

  • Calculate deferrals of accrued interest - calculate accruals for your bonds' accrued interests for bookkeeping purposes. The deferral transaction is the sum of accrued interests between the selected dates. This allows you to book accrued interests of bonds for the period you have earned them, prior to the actual interest payment.

  • Calculate deferrals of bond purchase price - calculate deferrals for your bonds' purchase price for bookkeeping purposes. Linear method calculates deferral based on the bond purchase price versus its price at maturity, and constant yield method (also know as "amortized costs") calculates the deferral based on the bond's yield at the time of purchase versus its yield on the day of the deferral. This allows you to book purchase prices of your bonds periodically between purchase and maturity.

  • Calculate deferrals on non-bond securities - re-valuate your other types of securities at year-end for bookkeeping purposes. The deferral transaction re-valuates your open positions' purchase value based on the market value of the position at year-end. This allows you "close the books" on your portfolios at year-end. You can also calculate separate adjustments for changes in currency and security prices, and configure how the re-valuation affects your portfolio's booked purchase value.

  • Calculate deferrals of accounts - calculate profits and losses for your currency accounts. The process creates Cashflow in (Internal) and Cashflow out (Internal) transactions whose value equals the entire account balance, and which use the latest FX rate. The Cash out transaction realizes all profits on the cash account, and the Cash in adds back the account balance with the latest FX rate. The created transactions can then be used in accounting to handle account profits and losses.

Supported formats

Export format

Description

SIE

Process for exporting book keeping material in SIE format. The SIE format is an open standard for transferring accounting data between different software produced by different software suppliers. SIE Format is compatible with e.g. Microsoft Navision book keeping system.

Fivaldi

Report for exporting book keeping material in Fivaldi format, which can then be used for import into the chosen accounting system.

Sonet

Report for exporting book keeping material in Sonet format, which can then be used for import into the chosen accounting system.