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Introduction:

Accounting Seed is an innovative, robust financial software solution that revolutionizes accounting, enabling you to make better-informed, timely, and accurate business decisions. Built on the secure and reliable Salesforce platform, Accounting Seed offers the industry’s most secure API (Application Programming Interface), allowing seamless communication between applications. As a native Salesforce solution, it provides seamless data integration from the opportunity to invoice and connects effortlessly with Salesforce applications like Sales Cloud, Revenue Cloud, and Service Cloud.

The strength of the Salesforce platform ensures that using Accounting Seed is safer than storing financial data on your computer. Your data is encrypted and backed up weekly, and because it isn’t housed on an internal server, it’s protected from power failures and natural disasters. For more details on Salesforce’s security and disaster recovery, feel free to check out their resources. As an Accounting Seed customer, your data resides exclusively on the Salesforce platform, which holds a SOC 2 certification, ensuring top-tier security.

Key Benefits:

• Native Salesforce Accounting Integration: As a fully native solution built on Salesforce, this accounting platform ensures seamless integration within the CRM, enhancing data consistency, streamlining processes, and providing a unified view of business operations.

• Comprehensive Accounting Suite: This complete suite covers all facets of accounting, enabling businesses to manage their finances with precision and efficiency.

• Automated Processes and Payments: Key accounting tasks such as accounts receivable, accounts payable, and bank reconciliation are automated with pre-built workflows, reducing manual errors and boosting overall efficiency.

• Multi-Dimensional Financial Analysis: The platform offers in-depth financial analysis across multiple dimensions, providing businesses with the insights needed to uncover trends and make informed decisions using advanced dashboards.

As a holistic accounting solution within the Salesforce ecosystem, Accounting Seed provides a comprehensive perspective on an organization’s financial operations. Its native Salesforce integration offers a real-time, holistic view of various financial aspects, aligning seamlessly with numerous business processes.

The platform’s extensive suite, covering everything from general ledger management to cash flow tracking, is designed to simplify complex accounting tasks. This not only eases daily operations but also equips businesses with tools for strategic financial analysis and decision-making.

Accounting Seed is an ideal solution for companies aiming to manage their business on Salesforce and gain a comprehensive 360-degree view of their financial performance.

Advanced Billing and Invoicing:

• Flexible Billing Options: Create and manage various billing types, including time and materials, fixed price, and milestone billing, to cater to different client agreements and project requirements.
• Automated Invoicing: Automate recurring invoices, batch invoicing, and payment reminders to save time and ensure timely billing.
• Detailed Invoice Customization: Customize invoices with branding, detailed line items, and multi-currency support to enhance professionalism and meet international client needs.
• Integration with Payment Gateways: Integrate with popular payment gateways like PayPal, Stripe, and Square to offer online payment options and automate payment matching.
• Comprehensive Reporting and Analytics: Generate detailed reports on billing and invoicing activities, track performance metrics, and optimize billing processes through insightful analytics.

Core Features:

Comprehensive Accounting Suite:

Accounting Seed provides an all-encompassing accounting solution, integrating essential functions such as General Ledger, Accounts Receivable, Accounts Payable, and Financial Reporting. This robust suite is designed to accommodate businesses of any size, seamlessly bringing their financial data into the Salesforce platform.

General Ledger (GL) Management:

The core of Accounting Seed’s suite is its dynamic General Ledger system. This GL is the backbone of all accounting data, ensuring accurate transaction tracking and reporting. It offers flexibility with customization options to meet specific accounting needs, supporting multiple ledgers, complex charts of account structures, and detailed tracking of financial transactions across different business units or projects.

Accounts Receivable and Payable:

This suite includes advanced tools for managing both Accounts Receivable (AR) and Accounts Payable (AP).

For AR, it automates the invoicing process and monitors customer payments, improving cash flow management. For AP, it streamlines vendor payments and tracks expenses, ensuring timely payments and efficient expenditure management. Both AR and AP are fully integrated with the GL, providing real-time updates of accounting data.

Cash Management and Bank Reconciliation:

Accounting Seed excels in cash management with tools for tracking cash inflows and outflows. Its bank reconciliation features stand out by simplifying the reconciliation process through automatic matching of bank transactions with accounting records. This not only saves time but also enhances the accuracy of financial statements.

Accounting Automation software:

Boost productivity with an accounting solution that automates workflows, reduces errors, and enhances data quality, allowing your team to focus on critical tasks. With AR and AP Automation, streamline invoicing, payments, and reconciliations, saving thousands of dollars and hours monthly.

Accounts Receivable Automation:

AR automation streamlines the billing, payment receipt, and reconciliation processes, typically through an AR automation solution. From issuing a bill to collecting payment, you manage Accounts Receivable (AR)—a task that can quickly become overwhelming, especially when dealing with outstanding balances. Handling hundreds or thousands of invoices each month can make this process even more challenging.

AR automation allows you to automatically generate billing after services are completed or milestones are reached, such as the start of a new retainer or a completed product sale. This automation triggers based on your business needs, offering key benefits like time savings, improved billing accuracy, and faster payment collection. For instance, once a contract is signed, billing is automatically generated, with any necessary approval steps integrated. Once approved, the bill is issued and emailed to the customer with minimal to no touchpoints, streamlining the entire process.

Accounts Payable Automation:

The AP Automation features to streamline the Accounts Payable process, simplifying the integration of your payables into the system. This allows you to efficiently plan and prioritize payments, and automatically distribute approved payments to vendors using various methods.

AP Automation allows customers to eliminate the manual sorting of bills and the use of multiple systems for tracking and payment. Instead, they can utilise a fully automated process from invoice receipt to payment and reconciliation. This saves time, reduces processing costs, and enhances internal controls. Accounting Seed users will further benefit by optimizing cash flow management, improving spend management, and minimizing fraud risk while eliminating discrepancies caused by manual entry and multiple systems.

Streamline Payment Processing & Reconciliation for Maximum Efficiency:

The bank reconciliation feature streamlines your processes by automatically connecting to your bank, downloading transactions, and matching them to ledger entries—creating new ledger transactions when necessary. This Bank Direct Connect feature ensures your financial records are always up-to-date. With Accounting Seed, bank reconciliation becomes streamlined, accurate, and efficient.

Automate Your Banking Processes: With the Bank Direct Connect tool in Accounting Seed, you can automatically connect to your bank, download, and match transactions to your ledger, creating new ledger entries where needed.

Easily Reconcile Batch Deposits: Our bank reconciliation software simplifies the process of reconciling batch deposits by creating a bank deposit record and associating all cash receipts within that batch.

Read More: Payment Process

Custom Reporting and Analytics:

Financial reporting utilizes financial statements to present the company’s health to stakeholders. The key statements include the balance sheet, cash flow statement, income statement, and statement of retained earnings. These statements follow standardized formats, ensuring they are easy for anyone to read and understand.

Accounting Seed offers robust custom reporting and analytics capabilities, allowing businesses to gain deep insights into their financial performance. This feature leverages the power of Salesforce’s reporting tools to provide a flexible and customizable solution.

1. Standard Reporting Capabilities:

Accounting Seed offers a robust suite of Standard reports to meet the diverse accounting needs of most businesses. These reports encompass detailed general ledger activities, profit and loss statements, balance sheets, cash flow statements, and trial balances, ensuring comprehensive financial visibility and control.

2. Custom Report Generation for Tailored Insights:

Recognizing that each business has unique reporting needs, Accounting Seed empowers users to create custom reports. This functionality allows businesses to tailor their accounting reports to specific requirements, such as departmental budgets, project-specific financials, and key business metrics.

The custom report builder is user-friendly, enabling non-technical users to design and generate reports that align with their specific business processes and objectives.

What is Project Accounting?

In Accounting Seed, projects enable you to consolidate revenues and expenses at both the project and task levels for comprehensive reporting. The platform supports multiple project budgets, with budget details stored at the task level and aggregated to the project level.

Accounting Seed tracks all transactions associated with a project, regardless of date. For instance, if a project spans from January to May, all transactions during each month within that period will be recorded. Once the project concludes, its accounting will be finalised.

In-Depth Tracking of Project Finances:

Accounting Seed provides comprehensive tracking of all financial elements within a project, encompassing revenues, expenses, and budget allocations. This capability is essential for maintaining a transparent view of a project’s financial health and profitability. It enables businesses to compare actual spending with the allocated budget, ensuring financial adherence and pinpointing opportunities for increased efficiency.

Connecting with Essential Accounting Functions:

The Project Accounting features are seamlessly integrated with Accounting Seed’s core accounting functions. This integration ensures that data from project-related activities, including billing and expenses, flows directly into the general ledger, as well as accounts payable and receivable.
This comprehensive approach maintains consistency in accounting data across the organization and eliminates the need for redundant data entry.

Time and Expense Management:

Accounting Seed offers robust functionalities for managing both time and expenses, making it ideal for businesses that bill by time or need to allocate employee hours to specific projects. With its time-tracking feature, you can monitor the time spent on project tasks and seamlessly link these hours to billing.
The expense management capabilities further ensure that all costs related to a project are accurately captured and associated, delivering a comprehensive view of project expenses.

Bank Integration:

Accounting Seed’s Bank Direct Connect (BDC) tool provides seamless integration with thousands of financial institutions worldwide. It enables the direct import of transaction history from your bank and credit card accounts straight into your Salesforce environment.

Bank Settings offer a streamlined approach for linking and mapping all your financial institutions directly within Accounting Seed. You can efficiently manage your source record add and match settings. Within Bank Settings, you can easily view each Financial Institution Account (FIA) associated with a financial institution and map the corresponding Bank GL Account to each FIA.

Each financial institution can have multiple associated Account Names. For instance, if a company banks with XYZ Bank & Trust, which includes a checking account, a credit card account, and a savings account, XYZ Bank & Trust would appear on three separate rows within the Bank Settings tab—one for each Account Name.

Bank Rules enable you to control the auto-population of fields on source records created through Bank Direct Connect (BDC) using user-defined criteria. By setting these rules, you instruct the BDC system on how to handle source records generated from Bank Transactions. For instance, if the Description field on a Bank Transaction contains redundant information, a Bank Rule can be created to automatically update the field with precise data, such as a retail store account name or number.

The Financial File Import utility, accessed via the Import File button on the Bank Transactions screen, allows you to easily upload financial files for bank transactions. The wizard supports importing up to 500 transactions per file with no date restrictions. After import, transactions appear in the Unmatched and All Bank Transactions tabs. It supports OFX and QFX file formats, which can be downloaded from select banks and credit card companies.

Financial Analytics (CRM):

Accounting Seed Financial Analytics is a powerful application built on CRM Analytics, Salesforce’s native tool for Business Intelligence and analytics. This app features visually engaging financial dashboards, rich data recipes, essential financial metrics, and trending data. It offers the capability to perform ad-hoc, multi-dimensional analyses and drill down to source transactions for deeper insights.

The Accounting Seed Financial Analytics app includes the following five dashboards:

• Profit & Loss (P&L)
• Revenue
• Expenses
• Balance Sheet
• Ledger Inquiry

1. Complete Financial Reporting and Dashboards:

Accounting Seed offers robust financial reporting and dashboard capabilities. Generate predefined or custom reports to gain deep financial insights. Visual dashboards provide real-time overviews, enabling quick decision-making. Break down silos and streamline operations with organization-wide reporting.

Key features:

• Predefined and customizable reports: Access essential financial information out-of-the-box or tailor reports to specific needs.
• Interactive dashboards: Visualize key metrics and trends to identify opportunities and risks.
• Real-time data: Make informed decisions based on up-to-date financial information.
• Enhanced decision-making: Improve operational efficiency and strategic planning.

2. Customization and Interactive Data Exploration:

Accounting Seed boasts powerful adaptability and data exploration tools. Users can mold the software to match their exact business demands by constructing custom reports and data collections. This suppleness ensures financial reporting perfectly aligns with unique operational needs. Further, the platform encourages interactive data exploration, allowing users to delve deeply into financial figures through filtering, sorting, and detailed analysis. This empowers businesses to uncover hidden trends and patterns, aiding in strategic decision-making and financial analysis.

3. Advanced Analytical Capabilities:

Accounting Seed has significantly enhanced its analytical capabilities with the introduction of Financial Analytics. Built on the CRM Analytics platform, this feature empowers businesses to gain deeper insights into their financial performance.

Key Features and Benefits:

• Interactive Dashboards: Visualize key financial metrics and performance indicators through easy-to-understand dashboards.
• Real-Time Insights: Monitor business performance in real-time, allowing for timely decision-making.
• Drill-Down Analysis: Explore data at granular levels to uncover hidden patterns and trends.
• Customizable Metrics: Define and track KPIs that align with your business objectives.
• Trend Analysis: Identify performance trends over time to predict future outcomes.
• Ad-hoc Analysis: Conduct on-demand analysis to answer specific business questions.

Installation:

To begin using Accounting Seed, install the managed package. Follow this link for detailed instructions: Install Accounting Seed.

Licensing:

After installation, assign licenses to users by navigating to Setup → Apps → Packaging → Installed Packages in Salesforce. Locate Accounting Seed Financial Suite and manage licenses as needed. Detailed steps are available here: Allocate Licenses.

Permission Assignment:

Users need specific permission sets. Go to Setup → Users → [Choose User] → Permission Set Assignments. Edit assignments and allocate the required permissions. More information can be found here: Assign User Permissions.

Edit Page Layouts:

Modify or assign page layouts by navigating to Setup → Object Manager → [Choose Object] → Page Layouts → Page Layout Assignment. Assign the appropriate layouts to user profiles. For detailed guidance, visit: Edit Page Layouts via User Profiles.

Explore the Getting Started section on Accounting Seed’s Knowledge Base for more details.

Summary:

Accounting Seed is a cloud-based accounting software built natively on the Salesforce platform. This unique integration offers businesses a seamless connection between sales, operations, and finance. By eliminating the need for separate systems, Accounting Seed provides a single source of truth for all business data. This centralized approach enhances visibility, allowing for real-time insights into financial performance.

Furthermore, Accounting Seed automates many accounting processes, such as accounts receivable and payable, saving time and reducing errors.

Its flexibility and scalability enable businesses to adapt the software to their specific needs as they grow. When combined with Salesforce’s CRM capabilities, businesses can achieve a comprehensive view of their customer lifecycle, from initial contact to revenue recognition.