Gain immediate insight into accounting reports through the TOCO-Silverfin integration
In previous blogs we already explained how to upload, pay and forward invoices to your accountant. But where do you see the results of keeping your financial records? How does your accountant process the documents you provide and how does this help you as a client to get the best possible advice? I would like to explain this to you in the blog below.
The Silverfin platform
The Silverfin platform is integrated with the most common accounting packages and financial reporting tools. As a result, your accountant has at his disposal at any time a report with the latest data (invoices, account statements, …) of your company, regardless of how you deliver those documents. The accountant then uses this data to create the correct accounting reports on the Silverfin platform and make them available in TOCO. This allows you to collaborate better and refer to the same documents. Thanks to Silverfin, your accountant has more time to support you with advice.
The TOCO-Silverfin integration
TOCO has a partnership with Silverfin. This has the big advantage that you as a TOCO user (if your accountant works with the Silverfin platform) can consult the reports and analyses of your accountant directly on the TOCO platform. Fully integrated, so no separate login required. Your accountant has to make the link between their Silverfin platform and your company only once in TOCO.
As a user you will find your reports in TOCO under the menu ‘Pulse’. The first time you go to the ‘Pulse’, you will receive an email at the email address that is linked to your TOCO user. Once you have accepted the invitation, your reports will appear in TOCO. You can choose a certain accounting period and type of report at the top of the screen. If you are working with a quarterly periodicity, your accountant will probably create one or more reports every quarter, for example the VAT return. But you can also consult a profit and loss account, a balance sheet, etc. if your accountant has opened this report. It is the accountant who decides what is available and can be shown.
One of the biggest advantages of the Silverfin reports is that you can click through to the document level. Imagine you are looking at a profit and loss account. For each general ledger account you will find the different cost items with: date, description, document number and the amount. Even the original invoice (PDF document) is available, if linked by the accountant. Awesome!
Why are these accounting reports so important?
First of all, because you can consult your reports at any time, so you can see how your company is doing in accounting terms. In addition, it gives you an overview of what data is passed on to other authorities, such as the tax authorities. And last but not least, it completes the circle of your financial administration. Your hard work is rewarded!