Your administration is correct, but takes too much time
- the administration takes too much time
- it is spread across several people or systems
- you regularly have to chase financial matters yourself
Managed Finance
Your finances. Handled for you.
From well-kept bookkeeping to structural financial insight. You decide how much you keep in your own hands and how much you leave to Digikwal.
Amounts per month, excluding VAT.
Purchasing
Sales
Bank
Processing
Checks and reconciliation
Closing
Insight and reporting
Sound familiar?
Financial administration is more than bookkeeping
If you only want to outsource the bookkeeping and the tax returns, a traditional bookkeeper is an excellent choice. Managed Finance is meant for organisations that, depending on the package chosen, want more of the finance operation carried out for them.
The bookkeeping itself is often not the bulk of the work. The work is in everything around it, and that usually stays with the owner or the board.
- collecting invoices and checking payments
- following up outstanding items
- understanding the figures
- keeping track of budgets
- preparing information for the board or the accountant
- bringing together data from different systems
Every period
What happens again every period
Financial administration is not a project with an end date. The same steps come back every period, in the same order and with the same check points.
-
Processing
Regular purchase and sales transactions in the administration.
-
Reconciling
Bank reconciliation and matching open items.
-
Check
Outstanding receivables and payables, and a periodic review of the administration.
-
Closing
Periodic closing and balance sheet review, depending on your package.
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Reporting
A dashboard and reporting for the period.
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Flagging
We actively report notable deviations and trends.
and then the next period
The difference
A correct administration is not yet financial insight
Managed Finance Essentials deliberately sits close to regular bookkeeping services. The higher packages go further: we then also monitor the processes, make the figures transparent each period, track budgets, map out cash flow and produce reports.
Level 1 · processing
The administration is up to date
Processing the administration, periodic tax returns, year-end work and questions about the administration. This is what traditional bookkeeping delivers, and for a simple administration that can be enough.
Level 2 · control
The processes are monitored
Monitoring financial processes, checking and following up outstanding items, periodic closing, balance sheet review and flagging deviations.
Level 3 · insight
The figures tell you something
Dashboards, budget versus actuals, cash flow insight, forecasting, management reporting, a finance review and preparation for your accountant or tax adviser.
Do you only have a simple administration and are you happy with your current bookkeeper? Then switching may not be necessary. We would rather say so than have you buy something you do not need.
Packages
How much financial control and insight do you need?
You buy a fixed service level with agreed work, not a bundle of hours. The prices are from-prices: size and complexity determine the final price.
What is in which package?
| Component | Managed Finance Essentials from €295 p/m My bookkeeping simply has to be in order. Discuss Essentials | Managed Finance from €895 p/m Not just a correct administration, but structural financial insight. Discuss Managed Finance | Managed Finance Plus from €1,695 p/m A professional finance function without building it yourself. Discuss Plus |
| Processing | |||
| Bookkeeping | Included | Included | Included |
| Bank reconciliation | Included | Included | Included |
| Receivables and payables | Overview | Checks and follow-up | Checks and follow-up |
| Projects and cost centres | Not included | Regular | Extensive, including grants within scope |
| Closing and review | |||
| Periodic closing | Preparation | Periodic | Monthly |
| Senior financial review | Not included | Not included | Included |
| Insight and reporting | |||
| Financial dashboard | Basic | Extensive | Extensive |
| Management reporting | Not included | Periodic | Monthly |
| Finance review | Not included | Quarterly | Monthly |
| Planning | |||
| Budget versus actuals | Not included | Periodic | Monthly |
| Cash flow insight | Not included | Periodic | Including forecast |
| Forecast | Not included | Basic where appropriate | Rolling forecast |
The final scope is recorded per organisation.
Why from-prices: size and complexity determine the work, transaction volume, the number of bank accounts, entities, sales channels, projects, grants and your VAT situation. The amounts stated apply to an organisation within the normal complexity of that package. We name the final price after the free introduction.
Clear roles
We handle the finance operation. You stay at the wheel.
Digikwal
Processes the administration, checks it, monitors the financial processes, reconciles, reports, automates where possible, flags deviations and trends, and prepares information.
You
Supply correct and complete information, authorise payments, decide on budgets and investments, enter into financial commitments and remain responsible for entrepreneurial and board decisions.
Where the decision is yours
We can prepare and check payment proposals. You authorise the payment itself: that point in the process is and stays your decision.
- Information
- Digikwal processes and checks
- You authorise
- Execution and recording
We do not perform a statutory audit or assurance work. If specialist tax advice is needed, we place that with a specialist equipped for it. Preparing the annual accounts stays with your accountant or tax adviser; we deliver the ordered administration and the year-end file.
Implementation
Set up properly first. Then manage it structurally.
Predictable financial services start with a proper setup. That is why we first assess your existing administration and financial processes.
- Assess the administration
- Structure and chart of accounts
- Bank connections and invoice flows
- Automations and dashboards
- Migration and validation
- Start of the periodic cycle
Depending on your situation also: VAT setup · cost centres and projects · document flows · permissions · opening balance
If your environment is already set up well, not everything has to be redone; we take over an existing finance environment when it is sufficiently standardised and manageable. We quote the Finance Implementation separately, after a short assessment. The monthly subscription pays for the execution afterwards.
Is it a fit for you?
Which level is your organisation at now?
Where you stand now determines what you need. Managed Finance starts with an administration that is correct and goes further where you want more control or insight.
You want more grip and more current insight
- you want more current financial insight
- your organisation is growing
- projects, cost centres or grants need more attention
Probably not needed when
- your administration is very simple
- your current bookkeeper takes care of everything you need
- you are happy with the insight you get today
- complex tax advice or an audit opinion is your main question
You do not have to hire a finance employee of your own to have a finance function, and you do not have to drop your current bookkeeper: some organisations leave tax returns and year-end work with their accountant and the administration and insight with us.
Why Digikwal
What makes Managed Finance different
Controlled processing
Fixed check points every period, instead of an administration that runs behind.
Structural insight
Dashboards and reporting are part of the process, not a separate assignment.
Automation where possible
We take recurring manual work out of the process; exceptions and judgements stay human work, with senior financial review on Plus.
Prepared for your specialist
Your accountant or tax adviser can stay; we deliver the information they need.
Our packages are built for organisations of roughly 1 to 25 employees, not for a corporate finance department. Setup and execution sit with one party, so there is no handover between builder and operator.
More grip on your administration and your figures?
We look at your current administration, how much work is left with you today and which service level fits that. If an ordinary bookkeeper is more sensible for your situation, we will say so.