Customer Newsletter 03/2022
Hello AutoAccount Client,
Here’s a brief summary of a few topics we are currently working on.
Connection of electronic bank statements
We are constantly doing development work to utilize the available data for your bookkeeping as efficiently as possible. All the reports and information available in your DigibalanceApp application is produced by our AutoAccount team using the latest state of the art software in the background. Bank data is the most crucial source data we have and as a part of our transition from one accounting software (Tikon) to another (Briox) we made also a change of what electronic bank statement format we are using. The current European standard is a so called CAMT statement which uses a XML file format. This format is available from all the traditional business banks but not from other payment providers as Holvi, Wise, S-Bank, personal bank accounts. However we have other methods available in those cases.
Please be aware that AutoAccount is not using a Digitase web service bank connection anymore. We have replaced it with Briox web service line. During the transition period the both two lines have been active to ensure that no crucial information gets missing. However the Digitase lines should already be cancelled by us and this requires no action on your behalf.
Archive in DigibalanceApp
In AutoAccount, the customer takes care of the archiving of receipts and invoices. In bookkeeping in general, you must be able to link the expense transactions to a purchase invoice or other expense document showing what the purchase includes and the possible VAT-specification. If the value of a purchase is over 400€ (incl. VAT), also the name of your business must be written on the receipt. Invoices and receipts have to be archived for seven (7) years.
You can get bills via traditional mail or to your online bank as so called e-invoices. Paper invoices must be scanned or photographed first to archive them. E-invoices can be saved directly in PDF-format. Using this same method, you can saveelectronic versions (picture or pdf) of the expenses you have paid with your debit card (or cash).
Please note: it is critical that our accountants have an access to your document archive. The best option is to utilize DigibalanceApp archive which replaces fully our earlier shared Dropbox space.
We have created your own electronic archive for your business in DigibalanceApp mobile application. The idea is that you save the invoices you pay and, for example, the pictures of the purchase receipts made with the company’s debit card. You can do it directly from your phone into the archive of the mobile application, especially with photographed receipts. The easy way to save pdf-invoices is to utilize the browser version of DigibalanceApp in your laptop https://digitase-mobile.herokuapp.com/login?lang=en For example it is very convenient to “drag and drop” pdf invoices from your laptop to DigibalanceApp.
You can also save other accounting-related material, in which case all of your company’s accounting material will be archived electronically in one place.
If, for some reason, you are not willing to use archive in DigibalanceApp, you need to make sure that we have online access to your purchase documents. They are required to be named according to the payment date: the correct format is YYYYMMDD for example 20220310+the name of the payment receiver.
New team members
We have new team members working for AutoAccount which enables us to response more rapidly to different customer requests. Please welcome Ms. Manon Flamen and Mr. Francesco Villa who started already in the beginning of the year. They together with Toomas, Sami, Satu and our whole backup team in Finland will do their best to meet your bookkeeping requirements as efficiently as possible.
I hope you are safe in the beginning of this new business year 2022 despite the on-going covid-19 and the horrible situation in Ukraine. Our European hearts and minds are with the people of Ukraine right now #stopwarinukraine
Mikko Ilves
Chairman of the Board
Digibalance companies
