Procountor offers a diverse range of features for auditing and internal auditing
Auditing in Procountor
Procountor makes it possible for the auditor to perform accounting and inspect receipts from his or her own office at any time.In other words, the auditor does not have to visit the customer’s premises in order to carry out auditing, nor is he or she tied to the customer’s office hours.
The auditor’s rights described in these instructions must also be granted to tax inspectors or other authorities who are legally entitled to inspect the company’s books.
Auditor’s access rights
A ready-made role exists (Management / Approver) for the company auditor in user management.The role gives viewing rights to data.With these access rights, the auditor can only edit his or her personal user information.The access rights of auditors must not be extended by the main user, apart from providing viewing rights to payments, since auditors are not legally authorised to keep accounts.
Each company issues access rights to its own auditor.Personal user rights must be given to each member of an auditing team.This is done from Management > Users and privileges. If an auditor audits the books of several companies that use Procountor, he or she is added as an existing user so that the auditor can use the same password to log into all companies.
You must not limit the viewing rights of the auditor appointed by the annual general meeting.The Auditing Act authorises such auditors to inspect all company information.The auditor can nevertheless revoke a team member’s rights to view certain data.Any such limits must be agreed on between the auditor and main user.
The access rights of auditors can be revoked through user management once the audit has been performed.
The Receipt search function consists of several different types of searches by which receipts can be found using various search criteria and their combinations.The search types are: Invoice search, Search open invoices, Search invoices to approve and Search invoices to pay.
You can use Invoice search to examine created sales, purchase, travel and expense invoices, as well as salaries and journals.You can view the invoices, their file attachments (e.g. invoice images for received e-invoices) and their accounting on this tab.You can search for receipts using criteria such as the invoice date, entry period and receipt type.The receipt time stamp indicates the persons who created the receipt and last edited it.The accounting time stamp indicates the person who last edited the accounting page.
By using the Search invoices to approve, you can examine purchase, travel and expense invoices, as well as salaries and journals.On this tab, you can check the verifiers and approvers of receipts from their time stamps.
You can balance open transactions using the Search open invoices search type.When balancing accounts receivable at the turn of 2008/2009, for example, the following search criteria are used: receipt type: Sales invoice, Payment transactions until: 31.12.2008. Enter the final month 2008-12 in the second field of the entry period.This is done because insurance bills, for example, may have been received as e-invoices and be dated to 2008, whereas they have been transferred directly to 2009 in accounting and should thus not be included in the listing.The same criteria are used for accounts payable, except that the purchase invoice, travel invoice and expense invoice receipt types will be included.
You can use the Search invoices to pay search type to see who has queued the invoices for payment, whether the invoices have been paid in one or more instalments, the accounts from which the invoices were paid, and any messages related to the payments.The verification and approval time stamps are also displayed on the Payments page.
You can examine salaries in the Salaries section.You can search for salary lists under Salary list search and examine individual salary slips through the lists.Under Salary reports, you can find various reports related to salaries, such as Pay sheet, Salary information list, from which you can gain a comprehensive picture of the salaries paid by the company, and the Extensive summary, which provides a summary of all salaries paid by the company.
You can view bank statements and reference payment data by bank account under Payments > Bank statements and reference payments. Auditors can confirm bank account balances in accounting through Procountor, since the contents of bank statements cannot be edited by users.Once a bank statement has been electronically transferred from the bank to a Procountor database via the OpusCapita money transfer system, its contents are locked.Several reports related to payments can be found under Payment reports.
Accounting reports and notifications
From Notifications, you can view VAT and employer’s contribution reports, as well as annual salary reports.You can execute accounting reports from the Accounting section.
You should run the income statement, balance sheet, general journal and general ledger with the receipt status defined as Business transaction and receipt type as All.For all accounting reports, you can select the report format from PDF, Excel and Detailed report. From the latter, you can view the actual receipts along with their accounting pages and attachments.
You can use account numbers to limit the number of transactions examined, e.g. balance sheet accounts (1000-2999) or income statement accounts (3000-9999) only.Selecting Show all accounts on the income statement or balance sheet will generate more detailed reports.
Exporting the data to files
You can execute reports in HTML, PDF or Excel format, which can all be opened or saved as files for further processing or archiving.You can export invoices to HTML or PDF format by clicking on the View button. Correspondingly, accounting pages and notifications can be exported to HTML or PDF format by clicking on the In printable form button.
By clicking the right mouse button in the Search view, you can access the Brief export file and Extended export file for exporting information from the selected invoices to an Excel spreadsheet.The Search result and VAT-specification selection exports invoice and VAT information to HTML format.
For the auditor’s own paperwork, he or she can print receipts, accounting entry pages, accounting books and other documents on paper.You can export invoices, for example, to HTML or PDF format by clicking on the View button. Correspondingly, accounting pages and notifications can be exported to HTML or PDF format by clicking on the In printable form button.
Internal auditing in Procountor
User rights form the basis for internal auditing in Procountor.By defining user rights, the main user can limit access to information that other users do not need in their work.There are three categories of user rights: no rights, viewing rights and full rights.Full user rights provide the authorisation for creating and updating information: e.g. for creating sales invoices.
In addition to SSL encryption, the service uses changing passwords, so that using Procountor is as safe as paying bills through your online bank.
Verification and approval
Depending on the scope of your company’s operations, you can specify a one- or two-tiered approval system for payment transactions.Approval and payment provide sufficient rights for managing the payment transactions of small organisations.In larger companies, it may be appropriate to adopt a verification step in which the person responsible for the operation notifies the approver that he or she considers the purchase invoice to be correct and eligible for payment.It is also possible to adopt a circulation for approval of purchase invoices, which enables you to specify the desired number of verifiers and approvers for invoices.
The creator of each transaction is registered in Procountor.The user name registered for the user is used as the identifier.Creator information is saved automatically from the user name and password of the person who opened the service connection.The time of the transaction’s creation is also logged from the computer’s clock.This makes it possible to establish with certainty who created or edited a transaction and when.
Bank account balancing enables reliable monitoring of the accuracy of accounting.Since the bank statement includes separate sum entries for sales ledger transactions (reference payments) and purchase ledger payments (invoice payment service) to be entered in the books, balancing the bank account provides certainty that accounts receivable and payable have been processed correctly.
Internal balancing of the accounts cannot provide certainty on whether all sales and purchases have been entered in the accounts, however.If a receipt is not written for a sale or a cash sale is not entered in the daily accounts, this can be discovered during a warehouse inventory or from sales margin calculations.Users cannot deleted electronic purchase invoices received through the online service, but if a paper purchase invoice is never entered into the accounts, the invoice cannot be paid through Procountor. Such errors are usually discovered after debt-collection measures taken by the supplier.
Balancing the accounts can result in minor balancing caused by the fact that receipt information is saved in the original currency.When receipt rows are converted to the accounting currency, rounding can result in a marginal difference of 0.01-0.03 cents in the receipt.This balancing difference will also be transferred to the balance sheet, in which the profit or loss for the fiscal year is calculated by subtracting total liabilities from total assets.This difference will also include the above-mentioned balancing difference.For the fiscal year to balance out, balancing difference is only entered in the accounts when drawing up the financial statements.
Various reports to facilitate balancing can be found under Accounting > Reconciliation tools.