Name: FinalBooks Accounting
Author: Walter Technologies

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FinalBooks Accounting is an online accounting software designed to assist businesses in managing their day-to-day accounting activities and running their operations smoothly. This solution is targeted at small to medium-sized businesses across various professions and industries, including small business owners, freelancers, accounting firms, retail and e-commerce businesses, and service-based industries.

## Key Features

**Expense Tracking**: According to the vendor, the software allows users to easily track and manage business expenses by categorizing expenses, attaching receipts, and recording payment details. Users can also generate expense reports to gain a clear overview of all expenses incurred within a specific period.

**Invoicing**: The software enables users to create and send professional invoices to clients and customers. Users can customize invoice templates with their branding and include item descriptions, quantities, and prices. The vendor claims that the software supports various payment methods, allowing clients to make payments directly through the invoice.

**Inventory Management**: FinalBooks Accounting offers efficient inventory management features that include tracking stock levels, receiving notifications for low stock, and generating reports to analyze inventory performance. Users can categorize items, set pricing and tax details, and manage multiple warehouses or locations, according to the vendor.

**Bank Reconciliation**: The software simplifies the bank reconciliation process by automatically importing bank transactions and matching them with corresponding entries. Users can reconcile bank accounts easily and get a clear overview of reconciled and unreconciled transactions, according to the vendor's claims.

**Financial Reporting**: FinalBooks Accounting provides comprehensive financial reporting features, allowing users to generate balance sheets, income statements, cash flow statements, and other financial reports. Users can monitor profitability, track revenue and expenses, and assess overall financial performance, according to the vendor.

**Payroll Management**: The software includes payroll management features that enable businesses to accurately calculate and process employee salaries and benefits. Users can set up employee profiles, define pay rates, deductions, and allowances, and generate payslips, according to the vendor's claims.

**Multi-Currency Support**: FinalBooks Accounting supports multiple currencies, allowing businesses to manage transactions and financial records in different currencies. Users can set default currencies and easily convert amounts between currencies using up-to-date exchange rates, according to the vendor.

**Integration with Bank Accounts**: The software seamlessly integrates with bank accounts, enabling users to import bank transactions directly into the software. Users can securely connect their bank accounts and automatically sync transactions, eliminating the need for manual data entry, according to the vendor.

**Tax Management**: FinalBooks Accounting provides tools to help businesses manage their tax obligations. Users can set up tax rates, apply them to transactions, and generate tax reports for accurate tax filing. The software supports various tax types, including sales tax, VAT, and GST, according to the vendor's claims.

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FinalBooks Accounting

1 in 3 accounting software users find it difficult to choose the right tool. Find the best solution for you.

The Buyer’s Guide to Accounting Software

Accounting software automates and streamlines financial management, from core functions like accounts payable and receivable to complex tasks like ledger management and reporting. They are aimed at enhancing accuracy, providing real-time financial insights, and ensuring compliance. Advanced systems integrate with other business tools, supporting everything from expense tracking to payroll. Explore user reviews and comparisons to find the best accounting software for your business.

Walter Technologies

General Ledger and Configurable Accounting

Financial management solution, including capabilities for general ledger and configurable accounting

Accounts payable

This includes the automation and tracking of payment to vendors and suppliers, with features such as payment scheduling, check printing, open purchase order alerts, document management, direct ACH bill payment, and vendor records.

Accounts receivable

This includes the management and automation of invoices and collections, with features like statements, invoices, receipts, payment reminders, customer records, auto billing, and refund checks.

Cash management

The software provides a complete picture of a company’s cash flows, streamlines payment processing, and includes cash forecasting.

Bank reconciliation

The software connects to a company’s financial institutions in order to reconcile accounting records with checking, savings and credit card accounts. Often month and year closing capabilities are included.

Expense management

The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.

Time tracking

The software can track billable and non-billable employee time by project.

Fixed asset management

This includes the ability to track fixed assets (e.g., laptops), including location, check-in and check-out, maintenance scheduling, audit history, specialized property tax period reports, cost and depreciation.

Multi-currency support

The software supports transactions across multiple currencies.

Multi-division support

The software is flexible and supports bookkeeping practices along multiple dimensions such as locations, branches or products.

Regulations compliance

The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.

Electronic tax filing

The software provides a full electronic interface for the filing of repeatable taxes, such as payroll or sales tax.

Self-service portal

The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.

Global Financial Support

Account using multiple ledgers, multiple currencies, and multiple entities

Primary and Secondary Ledgers

Record and report across multiple currencies and accounting standards with primary and secondary ledgers

Intercompany Accounting

Automatically balance and reconcile GL for intercompany transactions

Localizations

Meet reporting requirements with country-specific localizations

Journals and Reconciliations

Automate and synchronize ledgers and processes

Enterprise Accounting

Create accounting for disconnected ERP and non-accounting source systems

Configurable Accounting

Configure accounting rules and segments for each chart of accounts

Centralized Rules Framework

Integrate disparate ERP and transactional systems into single ERP instance

Standardized Processes

Centralize financial management to facilitate standardized financial processes

Inventory Management

The ability to track and manage the flow of goods or materials into and out of an inventory.

Inventory tracking

The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.

Automatic reordering

The software can be set up to automatically reorder a good when it falls below a certain threshold.

Location management

The software can track multiple goods across multiple locations.

Manufacturing module

The software helps track and manage raw materials, work-in-progress items, and finished goods.

Order Management

The ability to process orders, and track them from quote to cash.

Pricing

Users can set up complex and unique pricing requirements.

Order entry

Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.

Credit card processing

The software facilitates credit card processing.

Cost of goods sold

The software calculates the direct costs attributable to a finished product, such as materials and labor, and includes roll-up pricing.

Order Orchestration

Define and execute order fulfillment processes for products as well as services on the same order.

End-to-end order visibility

Get updates on orders, inventory, shipments, planned supply, and invoices, and improve the quality of decisions through in-context analytics

Order exception Resolution

Monitor fulfillment tasks and resolve issues, view and evaluate varios options via what-if analysis and define and enforce change order rules

Payroll Management

Provides for pay calculation and benefit plan administration, in addition to managing direct deposit, salary revisions and payroll tracking.

Pay calculation

Pay calculation provides for computation of employee pay with state and federal deductions.

Benefit plan administration

Benefit plan administration is administration of health insurance plans and 401k plans, and other benefits.

Direct deposit files

Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.

Salary revision and increment management

Salary revision is the ability to modify individual employee pay.

Reimbursement management

Reimbursement management provides cash reimbursement for employee expenses related to business travel or other.

Reporting & Analytics

Users can report on and analyze usage, performance, ROI, and/or other metrics of success.

Dashboards

Users can create, customize and share dashboards, which provide an overview of the most important metrics.

FinalBooks Accounting

Overview

What is FinalBooks Accounting?