Procountor uses the short version of the Finnish Basic Account Scheme.
Benefits of standardisation
Accountancy work can be automated and made more efficient through standardisation. With the help of standards, chains can be created from the business transaction to official notifications and payments. Standards enable the efficient production of new added-value services, since data can be transferred automatically between services. This eliminates manual data processing, and automation expedites data processing and minimises the incidence of error.
Standards have been employed for several years in financial administration. The efficiency of Finnish payment transactions is based on standards. The bank transfer form, reference number, bank statement as a receipt, and bank bar codes on invoices are examples of standards that have been in place for years. The e-invoice standard enables electronic invoicing and the automatic processing of purchase invoices. Reporting standards enable electronic reporting to authorities.
The basic account scheme is a necessary part of standardisation
The basic account scheme enables the following procedures:
- Automatic entering of electronic TITO bank statements
- Automatic ledger processing of the payment of purchase and sales invoices
- Immediate entering of electronic invoices to accounting
- A high degree of automation in drawing up financial statements
- The transfer of information from the financial statements to authorities, without detailed conversion tables or manual work
The use of other identifiers in addition to the basic account scheme
Procountor contains a great deal of other data that can be used to obtain detailed information on the company’s profit or loss and financial position.
Sales invoicing can be itemised by company with the help of queries and reports: how much has any given customer purchased in a period extending over several fiscal years? On the Product report, sales can be categorised using statistics generated by customer group, individual customer, product group or individual product. In such cases, the sale does not necessarily need to be entered on different ledger accounts.
You can determine purchases by supplier and details such as the amount of mobile telephone expenses do not need to be checked from the ledger account; they can be determined by searching for the sum of invoices sent by the operator. On the Product report, purchases can be grouped by supplier group, supplier, purchased product group or purchased item.
In addition to the classifications generated by the other operations described above, you can classify business transactions using six different dimensions. Two of the dimensions, Project and Person, have been named by default. The Project dimension also makes it possible to link various project management services to Procountor. The Person dimension, on the other hand, enables the automation of various types of tracking by person. The objects of such tracking can include the income generated by and costs incurred from the person, the monitoring of travel advances, tax monitoring data, etc.
Companies are free to name their own dimensions and use them for cost accounting, such as profit centre tracking or cost calculation.
Account lists of associations and real estate communities
You can order a separate chart of accounts and income statement for associations and real estate communities for Procountor by e-mail from email@example.com . This operations affects the chart of accounts and accounting reports. The ledger accounts in the balance sheet are identical for all entities with an accounting obligation.
How is posting automated?
Procountor uses default accounts for entering sales, purchases, travel invoices, bills of charges, journals and bank statements on ledger accounts. The default accounts have been selected on the basis of the most common method of posting the information correctly. Your company can change the default accounts to suit your particular circumstances.