Financial Accounting
Financial Accounting Software
Frequently Asked Questions (FAQ's)
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Yes.The system sends automated alerts via dashboards, email, or system notifications when transactions require review, ensuring timely approvals and adherence to workflow policies.
These are defined in the FOREX Revaluation report Settings.Users can map specific GL accounts for Realized Gain, Realized Loss, Unrealized Gain, and Unrealized Loss to ensure automated entries hit the correct P&L lines.
Once a payment is allocated to an invoice, any difference between the invoice exchange rate and the payment exchange rate is automatically calculated. The resulting Realized Gain or Loss is posted instantly to the designated "Realized FOREX" ledger as part of the payment transaction.
Yes. The system allows users to define recurring payment schedules. Once configured, ROCKEYE automatically generates these transactions at specified intervals, reducing manual effort and ensuring timely processing.
The system maintains a real-time "Balance Due" for every transaction. Aging reports dynamically reflect only the Unallocated Remaining Amount, ensuring that your Receivables and Payables totals are always net of partial payments.
ROCKEYE employs automated, redundant backup protocols. Financial data is backed up in real-time or at scheduled intervals to secure, encrypted cloud servers, ensuring that your books can be restored instantly in the event of an emergency.
The system architecture supports increased transaction volumes and users without affecting system performance, ensuring scalability for growing businesses.
The system applies transaction validation checks and database controls to ensure that each financial entry is processed accurately and stored securely within the ledger.
The platform supports API-based integrations that allow financial data exchange with external tools such as banking platforms, analytics tools, or other enterprise applications.
Before transactions are posted, the system validates required parameters such as ledger selection, transaction values, tax configurations, and user permissions to prevent incorrect postings.