Business NXT documentation

Home
Accounting
The accounting functionality enables real-time visibility into financial health, enhances accuracy in financial reporting, and facilitates regulatory compliance. Relevant transactions for book keeping, such as payments, expenses and vouchers are automatically received from the services in the Visma.net platform.
Bank reconciliation
The purpose of bank reconciliation is to match accounting transactions with account statement transactions from the bank.
Importing account statements
The account statement transactions are imported daily from Visma.net AutoPay, affecting the following tables in Business NXT:

Accounting
The accounting functionality enables real-time visibility into financial health, enhances accuracy in financial reporting, and facilitates regulatory compliance. Relevant transactions for book keeping, such as payments, expenses and vouchers are automatically received from the services in the Visma.net platform.
- Base data
  The tables in this section include base data for accounting.
- Budgeting
  You can create a single budget to be used during many years ahead, but you can also enter an unlimited number of budgets.
- Vouchers
  A voucher is an accounting document that serves as a record of a business transaction and verifies certain activities or expenses.
- Incoming documents and invoices
  Incoming documents and vouchers usually arrive from other systems. They can be, for example, new supplier invoices, expense claims or payroll vouchers.
- Customer ledger
  The customer ledger is a financial record that contains detailed information about transactions between a business and its customers.
- Supplier ledger
  The supplier ledger contains detailed information about purchases, payments made, outstanding balances, and any credits or adjustments related to the supplier.
- Payment transfer
- General ledger
  The general ledger is the central accounting record of a company.
- Bank reconciliation
  The purpose of bank reconciliation is to match accounting transactions with account statement transactions from the bank.
  - Importing account statements
    The account statement transactions are imported daily from Visma.net AutoPay, affecting the following tables in Business NXT:
  - Setting up bank reconciliation
    The following procedures are relevant when setting up bank reconciliation.
  - Running bank reconciliation
    The different steps of the bank reconciliation routine are described in this section.
  - Account statement transaction
    This table contains bank account transactions received from Visma.net AutoPay and is used for bank reconciliation.
  - Account statement transaction processings
    The following processings are available from the Account statement transaction table:
  - Account statement detail
    This table contains details for the bank account transactions received from Visma.net AutoPay.
  - Bank reconciliation statement column
    This table is a memory table, and doesn’t exist in the database. It is used in forms for the Bank reconciliation statement report.
  - Approved reconciliation
    This table contains information about approved reconciliation.
  - Approved reconciliation processings
    The following processings are available from the Approved reconciliation table:
  - Approved reconciliation attachment
    This table contains attachments connected to approved reconciliation.
  - Reconciled transaction
    This table serves as a link between reconciled transactions in the General ledger transaction and Account statement transaction tables.
  - Reconciled transaction processings
    The following processings are available from the Reconciled transaction table:
- Capital assets
  Capital assets are any kind of property for long-term use that belongs to a company.
- Electronic VAT reporting using Business NXT - Norway
  You can use Business NXT for electronic VAT reporting, either manually or automatically using the Visma.net AutoReport integration.
- Electronic VAT reporting - Denmark (new VAT structure)
  You can use Business NXT for electronic VAT reporting automatically using the connected service Visma.net AutoReport.
- Export of SIE files
  SIE files are used to exchange bookkeeping information between different systems, including the basis for financial statements.
- Import of SIE files
  SIE files are used to exchange bookkeeping information between different systems, including the basis for financial statements.

Importing account statements

The account statement transactions are imported daily from Visma.net AutoPay, affecting the following tables in Business NXT:

Table	Comment
Account statement transaction	The imported transactions will be added to this table.
Account statement detail	If there is additional information for the new entries in the Account statement transaction table, such as several invoices for a transaction, rows will be added accordingly.
Bank partner	The Balance available, Balance booked, Balance date and Bank account name fields will be updated.

Settings in Visma.net AutoPay

The account statements are imported from Visma.net AutoPay. The setup according to the specific prerequisites for Visma.net AutoPay must be completed prior to the import.

See also: Visma.net AutoPay

Settings in Business NXT

Make the following settings in the Bank partner table:

Field	Setting
Chargeable bank account no.	Must be identical with the Bank account no. in the imported account statement
GL bank account	Mandatory field for linking the account tables with the transaction tables

Additionally, you must enable the option Update general ledger transactions with reconciliation amount in the EFT processing field.

Note:

Only rows updated to the General ledger transaction table after enabling this option will be ready for reconciliation.