Data Import Types

Data Import Types

Emfino revolutionizes financial reporting and consolidation by supporting four advanced data import types - ensuring every detail is captured. From detailed transaction reports to trial balances, balance sheet splits, and key values, the system provides unmatched flexibility and accuracy for in-depth and meaningful reporting and advanced consolidation.

Transaction Reports

Trial Balance Reports

Balance Sheet Split Report

Key Value Data

Transaction Reports

Transaction Reports are a standard feature in most accounting systems. These reports capture all transactions from the Balance Sheet (BS), Profit and Loss (PL), and Off-Balance Sheet (OFF-BS) accounts within the selected period, ensuring the highest level of detail.

The Transaction Reports are Emfino's primary import source, forming the basis for system calculations. These Transaction imports ensure advanced functionality and provide in-depth insights for understanding financial data.

Examples of Advanced Functionality:

Drill-downs to the transaction level, even in Consolidated reports.

Currency translation to the reporting currency at the transaction level.

Consolidation entries by accounts and dimensions at the transaction level allow you to view Consolidated results in any report.

Intra-group reconciliation in original currencies at the transaction level.

Balance Sheet account splits by partners or by dimensions.

Use of transaction data fields to define custom reports.

Required Data in Transaction Reports

Transaction date: Indicates when a transaction was recognized.

Partner name: Necessary for:
1. Consolidation and intra-group transaction elimination,
2. Calculating Accounts Receivable/Payable balances by Partners,
3. Providing relevant transaction details to the users.
4. Custom report formulas.

Account number: Based on the Local Chart of Accounts.

Debit and Credit Amounts in Local currency: Reflect the transaction values in the local currency.

Original currency: Required for those transactions in which the amount in the Local currency differs from the amount in the Original currency.

Debit and Credit Amounts in Original currency: Required for those transactions where the Local currency differs from the Original currency. Necessary for reconciliation of intra-group transactions and balances.

Dimensions: Required if the legal entity has a dimension structure.

Comment: Provides additional details about the transaction for users.

Booking number (or Transaction number): A unique identifier generated by the accounting system for each transaction.

Document number (or invoice number): Offers further context and details regarding the transaction.

Corresponding account number: If unavailable, the system tries to identify and add these to the transaction data.

Trial Balance Reports

Trial Balance (TB) is another standard report available in accounting systems. It provides opening balances, closing balances, and turnovers for Balance Sheet (BS), Profit and Loss (PL), and Off-Balance Sheet (Off-BS) accounts from the Local COA in the Local/Functional currency.

TB imports play a crucial role in ensuring data accuracy. They are used to validate the accuracy of imported transaction data. A comparison with the previous month's TB report identifies any discrepancies in historical data. Additionally, validation against BS Split imports ensures that the balance sheet accounts are split accurately by Partners or Dimensions.

If any inaccuracies are detected during these checks, updated Transaction Reports or BS Split Reports must be imported to pass the validation checks and to ensure data integrity.

Required data in Trial Balance reports.

Balance Sheet Split Report

The Balance Sheet Split (BS Split) Report enables a detailed breakdown of selected Balance Sheet (BS) accounts by Partners, Dimensions, or both.

Typically prepared once per legal entity, the BS Split Report showcases the composition of selected Balance Sheet account balances in the Opening Trial Balance (TB). This report is essential for accounts involved in automated reconciliation and intra-group balance elimination.

Key Values

Key Values represent any non-accounting data essential for meaningful reporting, KPIs, or ratio analysis. These values can vary across legal entities within the Group, allowing tailored insights that complement financial data for better decision-making.