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Configuration of Financial

This section discusses the configuration of the financial processes in the financial administration(s). When you configure the financial processes, you also use the base configuration. In the base configuration, you centrally record the company administrative data so you can use this data across Profit components. Items such as the period table, auto numbering and bank account numbers are part of the base configuration.

You want to get started with the financial processes within Financial? Before you start working on these processes, first configure the software to suit your needs. The below 'Procedure' shows the functionalities and components you can configure for Financial.

Description

In Profit, you work with one or more environments and administrations. You can work with multiple environments and, within an environment, with one or more financial administrations. Each environment always has one main administration and can have multiple administrations, the so-called subadministrations.

You would configure multiple financial administrations in one environment, for example, if your enterprise consists of multiple limited companies or if you have multiple branches but you want to maintain one central administration. At the top level, you record the data that applies for the entire holding, such as the chart of accounts, debtors, creditors and allocation codes. At the administration level, you record the data that is valid only for a specific part of the company, such as journals, allocation assignments, etc. This is called recording at source: the one-time recording of data. You can configure settlement account relationships between the administrations themselves so that you have a quick and easy way to make mutual settlement account entries.

Note:

If you do not work with a multi-company structure such as a holding structure, you do not add any administrations after you have added the environment. After all, you do not need more than the one administration that is created automatically.

In the various parts of the software, such as Profit Projecten, Profit Order management and the course administration, there are no separate administrations. However, you have to indicate the financial administration you wish the data to be channelled to.

In the following Profit components, you can link elements to financial subadministrations:

  • Profit Order management
  • Profit Subscriptions
  • Profit Projecten
  • Course administration
  • Fixed assets

For example, you can link a financial subadministration to a project or link a subadministration to an asset group, etc.

In Profit HRM/Payroll, you can create multiple employers for one administration.

Data at environment and administration level

If you work with multiple administrations, you do not have to enter all data in each financial administration. You record as much data as possible at environment level. In the table below, you see which functions apply at the environment level and which data applies at the administration level:

Note:

Below you see only the functions at the environment and administration level for Profit Financieel.

Environment level

Administration level

Ledger accounts

Settings per administration

Account levels

Journals

Debtors / Creditors

Period table

Debtor dossiers

Financial entries

'Banken'

Invoices

Reminder sets

Remind

Financial year

Automatic payment/collection

VAT code and VAT sections

Budgeting

Allocation configuration

Allocation assignment

Exchange rates

 VAT/ICP declaration

Settlement account

 

Environment level

You record the chart of accounts at environment level. Thus you use one chart of accounts for all administrations. This means that if you have multiple bank account numbers (for example a separate bank account number for each administration), you add a separate ledger account for each bank account number and link them to the correct journal. The account levels that you record apply to all administrations.

Debtors and creditors are also recorded centrally and thus apply to all administrations. This means that a debtor and/or creditor has the same conditions for each administration, i.e. the same credit limit, the same currency, prices, discounts, etc. If you have to set up deviating conditions for a debtor or creditor in a specific administration, you must add the debtor or creditor twice.

Administration level

You specify the journals and allocation assignments per administration, just as the automatic payments and collections. You also produce debtor reminders per administration. The reminder sets, however, are added at the environment level.

Procedure