24SevenOffice accounting workflow

24SevenOffice’s web-based Finance and Accounting software has everything you need, fully integrated into one complete system. The system deals with all formats for incoming and outgoing receipts, and all functions are fully integrated; from scanning, EHF, receipt, authentication, invoicing, banking, accounting and ledgers to reporting, with drill down to receipt level.

24SevenOffice allows you to adjust receipt and work flow, customized to your business needs. Customers and accountants work in a single system, so you can take care of those tasks, linked to accounts and receipt flow, which are appropriate for you to resolve yourself. Of course, external accountants and auditors have free user access to the system.

Automation. Define your workflow

The idea behind 24SevenOffice’s accounting software is, in brief, to make the incoming and outgoing receipt flow as simple and automated as possible. One business is not the same as another, and companies can customize their work flow and adapt procedures to their everyday needs. The system is also suitable for integration with other systems, so that unnecessary manual processes can be replaced with automated runs.

Inbound receipts. Go digital

Go digital

The invoice receipt module in 24SevenOffice handles and reads all invoice formats from electronic invoice to scanned invoices in PDF and JPG format. By entering a few settings for the supplier in the CRM system, both registration and entry of receipts into the accounts can proceed automatically. You can also link receipts and expenses from the recipient, for example by project and department.

In order that incoming receipts are processed as efficiently as possible, we usually recommend the following to our customers:

  • Request or require suppliers to submit invoices in an electronic format.
  • Request suppliers to submit invoices by e-mail directly to their invoice recipient in 24SevenOffice.
  • Require employees to continuously submit travel and expense accounts from 24SevenOffice Mobile.

The advantages of all three points mentioned above is that everything flows continuously straight to the recipient in the accounting system, without any unnecessary intermediaries or risk of manual errors on the recipient side. You thereby avoid problems such as slow processing of invoices and unnecessary reminders and fees. At the same time, this facilitates continuously updated accounting, where the Chief Financial Officer has full control over costs and payments, as well as reliable and correct data for management purposes.

The approval module in 24SevenOffice allows businesses to forward receipts in a certification flow, so that the right person can approve each receipt from desktop, tablet or mobile – before they go to accounts and payment.

It is also possible to define your own approval rules related to monetary limits, projects, dimensions and specified approvers.

Continuous invoicing. Improve cash flow

improve cashflow

Compared, for example, with monthly customer invoicing, continuous invoicing can have a greater impact on liquidity and cash flow of a company than many realize.

24SevenOffice makes continuous invoicing effective – using invoice templates customized to the businesses’ needs and profile. For example, through 24SevenOffice Mobile each employee can easily and continuously record their hours worked and basis for invoicing linked to a project. The basis for invoicing is thus automatically in place.

All invoices are automatically recorded – and payments are automatically matched against the ledger. The bottom line is that you always have reports available in real time – with full traceability and drill down to receipt level.

With a few keystrokes, the system can give you an overview of outstanding items via age distributed customer or payment lists. You can also build your own customized Dashboard in 24SevenOffice with «widgets» for everything from liquidity, invoicing and balance to profit.

Completely integrated with Bank

Bank integration

24SevenOffice is integrated with the banks, so that you or your accountant can run all payments directly from the system. All receipts and payments are automatically matched against the ledger in 24SevenOffice CRM.

Efficient accounting

24SevenOffice enables simple transactions to be entered into the accounts with a high degree of automation. The system is structured with a high degree of flexibility, such that account entries can be made through the invoice receipt, approval or accounting modules.

The accounting module in 24SevenOffice is feature-rich and powerful – which means that it is designed to handle both basic and advanced accounting tasks. Thus you can freely define which columns you want in your layout and the order in which they are placed – from stamp number, invoice number, due date, period, customer number, project, department, VAT amount, sales tax, links, accounting templates, percentage deduction, foreign amount, currency, KID, bank accounts and self-defined dimensions to comments at receipt level.

To make accounting as efficient as possible, this module has access to a variety of hot keys.

Using accounting as a management tool

In the 24SevenOffice model, we enable customers to handle those tasks which are most sensibly solved «in-house», customized to the resources and expertise of the business. Thus, from our viewpoint, businesses acquire better foundations and conditions for using accounting as a management tool.

With continuously updated accounting your business is able to base its management and decision-making on up to date figures, and not numbers pulled out of the deep freeze.

The system gives you an overview of your financial status through a variety of real-time reports from desktop, tablet and mobile. You can also build your own customized Dashboard with «widgets» for everything from key figures, most invoiced projects and customers, which sales reps have the highest sales in the current year, liquidity and balance to profit.

Work in the same system as your accountant

24SevenOffice allows customers and accountants to work transparently in a single system and in real time on a common, cloud-based, platform.

Some businesses keep a large part of their finance operations ‘in-house’ while others leave a majority of the task to their accountants. With our solution you can arrange work flow flexibly and optimally for your business – so you can take care of those tasks which are appropriate for you to resolve yourself, and use accountants where it is natural to do so. For example for accounting, reporting, year-end statements and consulting.

Your auditor also has free user access to the system.

Consolidated group accounts

group accounts

The system can be used to efficiently run consolidated group accounts and retain an overview across a company group.

Each individual company has its client in the system, while one has the option to collect data and have an overview across the companies via the group client in the system. For all companies in 24SevenOffice, group management can, for example, efficiently see all costs related to a project – and approve them in a single login – and on a single screen.

Accounting figures per company and accumulated figures for the entire portfolio are available with one touch, either via the web or in Excel. It is also possible to create your own account statements with a focus on the various income or cost levels which are important for the individual company.

Integrations

24SevenOffice offers a broad spectrum of standard integrations, which means that integrations do not need to be cost driven. The investment needed to install your own customized integrations is also very low compared to traditional solutions, as our API is accessible and applicable for just this.

24SevenOffice is fully integrated with hundreds of systems spanning everything from debt collection and debt recovery services, financial statements, credit checks, factoring, online stores, cash register systems, logistics and marketing – to mention a few.

Currently the financial system is only supported in certain markets. Please get in touch to see which modules that are ready for your market.

inFlow

24SevenOffice has launched inFlow, so you can easily manage invoices, receipts and approvals securely in the cloud with 24SevenOffice. inFlow is ready to be integrated with your preferred accounting system in the cloud – through our open API.

If you use Xero as your accounting system we already have a plug and play integration available.