Use the Netvisor method description below as a basis for the description of accounting methods. As the accounting entity, ensure that the level and scope of the description are sufficient. Complement the basic description where necessary, for example with the services in use and calculation rules. If financial management is handled with multiple systems, add the other systems to the description as well as a description of how data transfer between the systems is organized.

CONTENTS

Overview of the Netvisor financial management software

Use Visma Netvisor as a financial management software service offered as a cloud service, enabling individual companies or business clients through their accounting office to access online electronic payment, invoicing, and financial management services.

  • Use the service with all common browsers and devices.
  • Always log in to the service securely through two-factor authentication.

Detailed technical description of the Netvisor service: Netvisor Service Technology and Security Description.

Overview of financial management

Use the Netvisor service so that all financial management data is in the same system without separate sub-ledgers. The information is the same in real time in different parts of the system.

  • Utilize budgeting, forecasting, and broader reporting in the new Controller.
  • Let Controller update data from accounting:
    • automatically every night
    • and when needed via the interface update function.
  • Note that no data is transferred from the new Controller to accounting, so accounting data is always real time regardless.
  • Use Netvisor to varying extents:
    • basic bookkeeping
    • ledgers and other sales and purchase add-on services
    • stock management
    • payroll
    • working hours and travel
    • the new Controller service.

Define the financial management material either entirely in electronic form or keep part of the accounting material in paper form.

  • Use the basic logic of Netvisor’s operation described in this overview of financial management.
  • Customize the method description for each company according to:
    • which service sections have been implemented
    • what kind of calculation rules are used
    • how the system’s automation is utilized.
  • Supplement the company-specific method description with other systems related to financial management, such as possible pre-systems.

Basic logic of accounting entries

In Netvisor, accounting entries are formed in different ways.

  • Let entries be formed automatically, for example during sales invoicing, according to the default postings entered behind the products.
  • Make the sales entry manually as a journal entry when needed.
  • Let the default postings for purchase invoices be created:
    • during inspection according to the vendor information, or
    • according to the automation rules created.

Sales entries

Process sales entries as follows.

  1. Send the sales invoice from Netvisor.
  2. Let the system automatically create an accounting entry from the sales invoice for the voucher type defined as default in the accounting settings (default ML Sales invoice).
  3. Use the sales invoice as the source data verifying the business transaction:
    • open the created voucher
    • check the Source field in the voucher header information and drill down to the sales invoice.
  4. Check from the voucher’s processing history in the interface:
    • how the voucher was formed
    • what changes have been made to the voucher after it was formed.
  5. Add attachments to the voucher when needed.
  6. View on the sales invoice the payment transactions related to the event and their vouchers.

Purchase entries

Process purchase entries in a corresponding way.

  1. Receive and process the purchase invoice in Netvisor.
  2. Let the system create an accounting entry based on the purchase invoice for the voucher type defined as default (default OL Purchase invoice).
  3. Use the purchase invoice as the source verifying the business transaction for the accounting entry.
  4. Check on the voucher:
    • how the voucher was formed from the voucher story
    • changes to the voucher via the processing history.
  5. From the purchase invoice, open:
    • purchase invoice details
    • payment details
    • accruals
    • invoice processing history
    • any purchase invoice attachments.

Payroll entries

Create payroll entries in the payroll process after the payslips have been paid.

  1. Go to payroll by selecting Pay > Payroll > Payslips.
  2. Ensure that the payslips have been paid.
  3. Create the payroll entry voucher as a user in the payroll process.
  4. Define the voucher type in the Payroll settings (default PA Pay).
  5. Use the Payslip listing as the source data verifying the business transaction:
    • open the created voucher
    • check the Source field in the voucher header information and drill down to the Payslip listing.
  6. Check from the voucher’s processing history:
    • how the voucher was formed
    • what changes have been made to the voucher after it was formed.

Entries from travel expense reports

Process entries from travel expense reports as follows.

  1. Pay the travel expense report directly if you do not pay it together with the payslip.
  2. Let the system automatically create an accounting entry from the travel expense report.
  3. Record travel expense reports to the voucher type defined in the Payroll settings (default PA Pay).
  4. Use the Travel expense report listing as the source data verifying the business transaction:
    • open the created voucher
    • check the Source field in the voucher header information and drill down to the Travel expense report listing.
  5. View in the Travel expense report listing:
    • travel time
    • attachments.
  6. Check from the voucher’s processing history:
    • how the voucher was formed
    • what changes have been made to the voucher after it was formed.

Entry and automation rules

Use Netvisor’s default accounts, accrual rules, posting rules, and automation rules to manage financial management with a high level of automation.

Define default accounts as follows.

  1. Define default accounts behind the products being sold, using which the sales transactions of this particular product are recorded.
  2. Save vendor-specific default postings for purchases in the vendor information.
  3. If default accounts have not been defined for products or vendors:
    • let the default accounts for sales and purchases be determined according to the general settings.
  4. Open the general settings by selecting Financial management > Settings > Accounting settings > Accounts used in default postings.

Use the accrual functionality of sales and purchase invoices to allocate revenue and expenses to the correct periods.

  1. Open the sales or purchase invoice you want to accrue.
  2. Use the accrual functionality to accrue the invoice, for example with a monthly equal distribution on an accrual basis to the correct periods.
  3. Let the system create the accrual vouchers and link them to the respective invoice.
  4. View the postings of the accrual vouchers from the invoice details.
  5. Check the accruals of a purchase invoice:
    • open the purchase invoice details
    • select “Accrual vouchers”
    • open the link to the list of vouchers related to the purchase invoice (purchase invoice voucher and all related accrual vouchers).
  6. View the accrual vouchers of a sales invoice in a corresponding way from the sales invoice details.
  7. Utilize automatically created tracking items for accruals of sales and purchase invoices:
    • use the tracking items in balance sheet specification listings of accruals made.
  8. View accrual tracking items by selecting Financial statements > Accrual tracking items - Purchase and Accrual tracking items - Sales.
  9. Create accruals when needed also with the accounting accrual tool by selecting Financial management > Accruals.

Increase the automatic processing of bank statement transactions with posting rules.

  1. Open the accounting settings by selecting Financial management > Settings > Accounting settings.
  2. Create posting rules via the accounting settings.
  3. Create posting rules also on the bank statement when you record a transaction with the Allocate function.
  4. View the posting rules in use in Accounting settings > Posting rules.

Utilize automation rules for purchase invoices.

  1. Open purchase invoice automation by selecting Purchases > Automatic processing.
  2. Set conditions for purchase invoices, upon the fulfillment of which the actions defined in the rule are performed on the purchase invoice.
  3. From the same view, check whether purchase invoice automation has been enabled for the company.

VAT handling

Handle value-added tax in Netvisor according to the net entry method.

  • Let the accounting transaction end up as a net entry, where VAT portions are recorded as separate transaction rows.
  • In the manual entry of a new voucher, select the gross method as the VAT handling method when needed:
    • let the system calculate the amount of tax according to the selected VAT rate, following the chosen input method.
  • Note that vouchers automatically created from the accounts receivable and accounts payable follow the net entry method for VAT.

Use a VAT identifier and tax percentage per transaction row in Netvisor.

  • Guide the calculation and reporting of value-added tax with the VAT identifier and tax percentage.
  • Ensure that, based on the VAT identifier, the transaction is placed in the correct group in the VAT calculation and value-added tax declaration.
  • Set default VAT identifiers for accounts in the specification of accounts:
    • also use these in the system’s default posting functions.
  • Change the default VAT identifier as a user when needed.

Enter and record VAT as follows when you use the “New voucher” function.

  1. Enter the voucher rows as gross amounts or according to the selected input method.
  2. Save the voucher.
  3. Let the system:
    • calculate the amount of VAT
    • convert the amounts entered as gross sums into net entries
    • record the VAT amount to the VAT receivables or payables account.
  4. Create the VAT calculation.
  5. Make the VAT entry:
    • let the system record value-added taxes from the VAT receivables and payables account to the tax account.

VAT Codes

Bank statement handling

Process a bank statement received in Netvisor as follows.

  1. Receive the bank statement in Netvisor.
  2. Link the received reference payments and their accounting vouchers to the bank statement.
  3. Process paid purchase invoices:
    • create a voucher for them in accounting
    • change the ledger invoice status to paid.
  4. Let the system link the vouchers created to the bank statement transactions.
  5. Utilize posting rules in bank statement handling:
    • post the desired rows based on a rule created from the bank statement.

Voucher types

Utilize the voucher types used by default in Netvisor and add new ones when needed.

  • ML Sales invoice
  • MS Sales transaction
  • PT Bank
  • KT Cash
  • Pump Imported transactions
  • T Automatic financial statement entries
  • AT System generated
  • MU Others
  • OL Purchase invoice
  • OS Purchase transaction
  • JK Accruals
  • PL Pay

Entry chain

Ensure that the entry chain is formed seamlessly in Netvisor.

  • Utilize the entirety of the accounting entry and voucher described in the section “Basic logic of accounting entries”.
  • Let a voucher number be formed for the voucher, consisting of the voucher type and a running number.
  • Ensure that vouchers verifying the business transaction, such as sales and purchase invoices, are firmly linked to the accounting entry.
  • Always check the source from the entry to see from where and on what basis the entry was formed.
  • Attach the necessary clarifications to manually recorded vouchers, for example as an attachment to the voucher.
  • Ensure that the same voucher number is visible on the daybook and general ledger as well as on other accounting reports.
  • Base the account-specific profit and loss statement and balance sheet on the same data as the profit and loss statement and balance sheet reports formed for the official financial statements.
  • Document the entry chain also for income tax reporting:
    • we recommend documenting the differences between accounting and taxation, for example as an attachment to the fiscal year’s tax accrual voucher.

Accounting checks and reconciliations

Use the system’s separate reconciliation view for reconciling accounting.

  1. Open the reconciliation view by selecting Financial management > Reconciliations (or a corresponding company-specific view).
  2. Reconcile the company’s bank accounts with the corresponding accounting bank account balance.
  3. Reconcile the accounts receivable balances with the corresponding accounting account balances.
  4. Reconcile the accounts payable balances with the corresponding accounting account balances.
  5. Reconcile stocks with the balances of the accounting stock accounts.

Monitor the notices highlighted by the system.

  • Check notices related to exceptional situations in invoice or payment traffic.
  • Process notices of events that still require actions.

Integrations and use of software interface

Utilize the Netvisor software interface for importing data.

  1. Open company-specific interface information by selecting Company menu > Software interface.
  2. Check what data is imported into the company via the software interface.
  3. For services in use that deviate from the standard basic service package, see the Netvisor Store.

Preservation of accounting material

As the accounting entity (customer), ensure the preservation of accounting material in accordance with the Accounting Act.

  • Note that Visma does not take responsibility for or ensure the statutory preservation of the customer’s accounting material.
  • In the event of termination, proceed as follows:
    1. Take a copy of the material for the statutory preservation of accounting material.
    2. Download and archive the material for yourself as the customer or accounting office.
    3. Ensure that the material copy has been taken before the last usage date announced in connection with the termination.

Frequently asked questions

Question: How should the Netvisor method description be used as a basis for the description of accounting methods?
Answer: Use the Netvisor method description as a general basis, ensure as the accounting entity that the level and scope of the description are sufficient, and tailor the description for each company according to the service sections in use, calculation rules, automation, and other financial management systems.

Question: How are accounting entries formed in Netvisor from different business transactions?
Answer: Let entries be formed automatically based on sales and purchase invoicing, payslips, and travel expense reports according to default postings and automation rules, or make entries manually as journal entries. Use voucher source data and processing history to verify the entry chain.

Question: How do I utilize default accounts, accruals, and posting rules in Netvisor?
Answer: Define default accounts for products, vendors, and in the accounting settings, use the accrual functionality of sales and purchase invoices to allocate revenue and expenses to the correct periods, and increase the automatic processing of bank statements with posting rules in the accounting settings and bank statement handling.

Question: How does VAT handling work in Netvisor?
Answer: Use the net entry method, where VAT portions are recorded as separate rows, and select the gross method when needed for manually entered vouchers. Utilize VAT identifiers and tax percentages per transaction row, set default VAT identifiers for accounts, and let the system calculate and record VAT when saving the voucher and when creating the VAT calculation.

Question: How do I ensure the seamless entry chain and accounting reconciliations?
Answer: Ensure that each voucher has a voucher number formed from the voucher type and a running number, and that vouchers verifying the business transaction are linked to accounting entries. Use the reconciliation view to reconcile bank accounts, ledgers, and stocks with accounting accounts, and document differences between accounting and taxation, for example with an attachment to the tax accrual voucher.

Question: Who is responsible for preserving accounting material during and after the use of Netvisor?
Answer: As the accounting entity, you are responsible for the statutory preservation of accounting material. In the event of termination, ensure that you take a copy of the material, download and archive it before the announced last usage date, as Visma does not take responsibility for preserving the material.

Keywords: netvisor, bookkeeping, VAT handling, posting rules, bank statement handling, automation rules

This article has been translated using an AI-based translation tool. The contents or wording of these instructions may differ from those in other instructions or in the software.


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