Intro to accrual accounting and new behavior on Bookkeep 2.0
Accrual accounting & reporting
Accrual accounting measures a company's performance and position by recognizing economic events regardless of when cash transactions occur.
Cash accounting only records transactions when payments occur.
Accrual accounting allows you to have a better understanding of your bookkeeping and your companies financial health.
New behavior on Bookkeep 2.0
On the old version of Spendesk, we offered visibility at the ‘payment’ level, in the sense that you had to mark supplier invoices or expense claims as paid/reimbursed to be able to add them to your bookkeeping.
🎉 New: With the new version of Spendesk called Bookkeep 2.0, we now offer proper accrual accounting standards allowing you to bookkeep supplier invoices & expense claims regardless of their payment status.
Reminder: At the Review stage (in the tabs 'Invoices > Review' and in 'Expense claims > Review') you are able to check the compliance of the attached invoice or receipt, as well as the other details provided by the employee. The Review step is also where you decide to agree to pay the supplier invoice or reimburse the expense claim.
🎉 New: With Bookkeep 2.0, the Review steps are now also the time where you agree to add the supplier invoice or expense claim into your bookkeeping. This means that as soon as you ‘Validate’ a supplier invoice or an expense claim in the Review step, it will automatically go to the next 'Pay' or 'Schedule reimbursement' tabs AND in the 'Bookkeep > Prepare' tab for bookkeeping purposes.
Multiple expense accounts and VAT accounts
🎉 New: You can now split payables over multiple expense & VAT accounts
(it is possible to assign up to three different expense & VAT accounts per payable).
This split will be reflected in your exports to DATEV.
Autocat for invoice payables
🎉 New: You can now assign rules 'supplier = expense accounts' for invoice payables
Less manual work: If you set up these rules you will have the expense account field pre-filled in 'Bookkeep>Prepare'
Bookkeep and export to DATEV
Export card payments
If you export a card payment, then Spendesk will create both a bill in DATEV Unternehmen Online with the status 'paid'
Export expense claims
If you export an expense claim that has been paid with money from the Spendesk wallet, then Spendesk will create a bill with the status 'paid' in DATEV Unternehmen Online.
If you export an expense claim that has been paid outside Spendesk with a different bank account, then Spendesk will create a bill with the status 'unpaid' in DATEV Unternehmen Online
If you export an expense claim that has not been paid yet, then Spendesk will create a bill with status 'unpaid' in DATEV Unternehmen Online. If you reimburse this expense claim afterwards, Spendesk won't be able to update the payment status in DATEV Unternehmen Online.
If you export an invoice, then Spendesk creates a bill with the status 'unpaid' in DATEV Unternehmen Online. As invoices cannot be paid via money from the Spendesk wallet, Spendesk doesn't update the payment status.
Export Foreign Exchange (FX) fees
Spendesk takes a 2.99% fee on transactions made in foreign currencies.
On the old version of Spendesk, FX fees were exported together with the core payment. A single bill was created in DATEV Unternehmen Online with two lines: one for the core payment, and one for the FX fee.
With the new version of Spendesk Bookkeep 2.0, FX fees are not exported to DATEV Unternehmen Online anymore via our native API integration.
Please use our CSV account statement that you can download from Settings > Your wallet > Account statements in order to import FX fees into DATEV Rechnungswesen.
Spendesk doesn't have access to DATEV's API for bank transactions. As a result, settlements are not exported via our native API integrations, only payables are.
Please use our CSV account statement that you can download from Settings > Your wallet > Account statements in order to import settlements into DATEV Rechnungswesen.
From the 'Settings > Accounting' page you will be able to set up your accounting data for your closing process
This page allows you to synchronize Spendesk with your DATEV Unternehmen Online account. Make sure that you set up the appropriate permissions into DATEV prior to synchronizing Spendesk.
You can set up your bank fees account in this section. Make sure they respect DATEV's format requirements.
You can set up your expense accounts in this section. Make sure they respect DATEV's format requirements.
You can set up your tax accounts in this section.
🎉 New: you can now also set up reverse charge accounts in this section.
N.B: DATEV only allows certain combinations of BU codes and tax rates via its API. We only propose combinations that are usable via the API. If you don't find a certain combination, it means that it cannot be used.
You can set up your default supplier account in this section. Make sure its respects DATEV's format requirements.
🎉 New: Accounts payable page
The new 'Accounts Payable' page allows you to manage suppliers, rules for expense accounts and banking details of all your suppliers (card and invoices payables). This new page replaces the Suppliers page displayed in the Invoices tab for customers who use the supplier invoices module.
You can set up your employee accounts in this section. Make sure they respect DATEV's format requirements.
You can map DATEV Kostenstellen with analytical fields in Spendesk so that they are exported to DATEV.
Reporting on Bookkeep 2.0
🎉 New: 'All payables' page - go to page for reporting purposes
With Bookkeep 2.0 we launched the new page 'All payables' for reporting purposes.
The 'All payables' page reflects data on the payable level.
This page is your new go-to page to analyze and extract CSV reports of your payables and payments.
What is shown on the 'All payables' page?
Card payments as soon as they are settled
Expense claims and supplier invoices as soon as they are "validated" in their respective review step
Powerful filters: receipt status, date, payable type, payment status & bookkeeping status
🎉 New: payment and bookkeeping status: clear visibility on the payment status (“To pay”, “To reimburse” or “Paid”) as well as their bookkeeping status (“To prepare”, “To export” or “Exported”)
What data is available on the 'All payables' page (short extract)?
Extract audit reports from Bookkeep 2.0
Account statement - go to documents for audit purposes and balance verifications
The account statements are available from 'Settings>Your wallet>Account statements'
Account statements reflect every transaction (in & out) on your Spendesk account. It also does not contain any bookkeeping information
The account statement can be considered as a legal supporting document for all transactions carried out with the Spendesk account
Download from the 'All payments' page: you can download a specific set of transactions as a .CSV file (by using filters) from the 'All payments' page