What Stays in Your ERP, Bank and Corporate Card Setup

How It Works

Finofo does not replace your ledger, bank or card program. It sits between them and handles the work that usually happens in inboxes and spreadsheets: intake, reading, coding, matching, approval, payment preparation and reconciliation.

What Stays Where

Each system below shows what stays there, followed by what Finofo does.

• Your ERP: Your ledger and accounting reports. Vendors, GL accounts, classes, locations and tax rates are kept there.
  Imports vendors and coding values, codes documents with them, and posts approved bills and expenses back.
• Your bank: Your bank accounts and existing payment process.
  Prepares payment batches. Pay through Finofo Payments, or keep paying from your existing system and record bills as paid in Finofo.
• Corporate cards: Your existing company-issued cards.
  Brings in card transactions from a bank connection or uploaded statements, matches receipts to them and posts card expenses.

Check the ERP Connection

1. Open Settings > Integrations. The ERP integration card shows Connected, the last sync time and a Sync button.

2. On GL properties, check which properties sync and what they are used for. Account is required for invoices and expenses, Tax Rate is required for invoices, and Class and Location are optional.

3. On Payment entries, map each Finofo currency account to its ERP GL account. Finofo posts payment entries with these accounts when batches are paid out.

4. Under External Payments on the same tab, choose the GL accounts allowed for Cheque, Bank Payment, Credit Card and Vendor Credit. These are used when a payment is recorded outside Finofo.

5. Open Settings > Documents and choose Automatic posting or Manual posting under Approval and posting.

Keep Your Cards

1. Open Settings > Cards to see each corporate card with its Status, Approval setting, Currency, Expiry, Holders and GL accounts.

2. Click Add card to add a card, then bring in its transactions from a bank connection or by uploading card statements.

Tips

• Map Payment entries and External Payments before the first bill is paid, so payments post to the right GL accounts.
• If payments stay in your existing system, keep approvals and posting in Finofo so the audit trail stays with each bill.
• To email vendors a remittance notice for payments made outside Finofo, turn on Payments recorded outside Finofo in Settings > Organization.

Frequently Asked Questions

Do we need to change banks to use Finofo?

No. Your bank stays. Pay through Finofo Payments or keep paying from your existing system.

Can Finofo post approved bills while we keep paying from our current system?

Yes. Finofo posts approved bills to your ERP and records them as paid outside Finofo, while payments continue from your existing system.

Where do GL accounts, classes and locations come from?

They import from your ERP, so coding in Finofo uses the same values as your books.

Do employees need new cards?

No. Finofo works with the corporate cards you already use.