Accounting

Overview

Import and consolidate actuals across accounting systems via native integrations. Once connected, the general ledgers from your respective accounting systems will be available through the Mappings view in your model.

Supported accounting integrations:

• Microsoft Dynamics 365 Business Central

• Oracle NetSuite

• Intuit QuickBooks Online

• Xero

• Visma e-conomic

Francis only imports booked entries from accounting integrations. Draft transactions are currently not supported.

Configure

Connect your accounting system under Data Sources by selecting Add data source on either supported system. Depending on the selected integration, a pop-up will appear explaining how to connect your account.

Once you've successfully connected your account, Francis will automatically initiate a sync to pull in all booked entries. Initial syncs take five to thirty minutes, depending on the number of booked entries.

Reach out to [e-mail] if you experience any issues while connecting.

Dimensions

Dimensions can be imported if you've implemented them in your bookkeeping. To enable dimensions on a data source, you'll need to specify which dimension is relevant for your modeling and planning in Francis. Head to the Data Source settings to select your relevant dimension. Once a dimension has been selected, the integration will re-sync to pull dimension values for all booked entries.

Francis currently only supports dimensions for Visma e-conomic and Microsoft Dynamics 365 Business Central.

Currency conversion

Transactions from accounting systems can automatically be converted from their base currency to a custom target currency, assuming your organization Admin has defined a Custom Exchange Rate.

Enable currency conversion by going to the Settings on your accounting source and enabling Convert base currency on import. Once enabled, you must (1) define which Custom Exchange Rate to use and (2) your desired target currency.

Adjustments

A number of adjustments are made to imported booked entries to ensure that the numbers are presented correctly.

Number conventions

In Francis, income and balance sheet items are input as positive values, while expenses are input as negative values (with a minus sign). This convention ensures that numbers from all models and data sources can be compared correctly.

Francis makes the necessary adjustments to ensure correct signs for imported booked entries, guided by account information from the ERP tool. For Visma e-conomic, you may have to specify the asset range, in which case you will be prompted.

Correctly accounting for retained earnings

When you close a fiscal year in accounting systems, retained earnings for the year are automatically moved from a "Retained earnings this year" account to a "Retained earnings from previous years" account.

Francis corrects this and adds an extra account to your chart of accounts that represents "Retained earnings this year." You may have to specify which account corresponds to "Retained earnings from previous years", in which case you will be prompted.

Francis currently only makes the retained earnings adjustment for Visma e-conomic and Microsoft Dynamics 365 Business Central. If you use Xero, Intuit Quickbooks Online, or Oracle Netsuite, you have to create a manual calculation for this. If you need help, reach out to [e-mail].

Accumulating balance sheet values

In Francis, balance sheet values are presented as the accumulated values at a point in time and not only the movements in the period. This adjustment is made to balance sheet accounts at the time of import. For this reason, balance sheet items in charts and reports are typically summarized by ENDING values or DELTA values instead of SUM values.