FAQ

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.

Yes. You can define Installment-based Payment Plans within the system. This allows an invoice total to be broken down into multiple due dates with specific percentages or fixed amounts.

Yes. The system supports Split Allocation, allowing a single bulk payment to be distributed across multiple invoices, ensuring precise ledger balancing.

ROCKEYE’s Payment Allocation Engine allows unassigned incoming or outgoing payments to be matched with outstanding invoices. Users can either manually allocate payments to specific invoices or use auto-allocation, which applies a FIFO (First-In, First-Out) logic to streamline the process.

ROCKEYE supports the "Impact of GL" view allowing users to see the exact double-entry breakdown by identifying which accounts are debited and credited upon posting.

Providing total transparency and allowing for instant verification of automated journal entries.

Yes. ROCKEYE offers a web-based, responsive platform and a dedicated mobile application, enabling authorized users to securely log in, review dashboards, access reports, and approve urgent Ttransactions anytime, anywhere.

Administrators can create, restructure, or deactivate GL accounts centrally. All changes are tracked with audit logs, ensuring consistency and traceability across financial operations.

The system tracks invoices based on their configured payment terms and due dates. Overdue invoices are automatically flagged, and displayed on the relevant Overdue Dashboard KPIs enabling timely follow-up and faster collections.

Yes. The system enables you to designate specific customers, vendors, or items as tax-exempt. At the transaction level, a Tax Exempt group can be assigned, ensuring these transactions are excluded from tax calculations while still being fully visible and accurately reported in audit trails and compliance reports.

Yes. Users can click on any data point in a dashboard or summary report to drill down into the underlying General Ledger transactions for instant verification.

Yes. Each vendor or customer master includes detailed transactional history, payment terms, credit limits, and associated documents, enabling efficient transaction processing.

Yes.The system sends automated alerts via dashboards, email, or system notifications when transactions require review, ensuring timely approvals and adherence to workflow policies.

The system supports shortcuts, bookmarks, contextual menus and text search, allowing users to perform routine financial tasks quickly without navigating through multiple modules.

Finance entry forms are structured with intelligent field validations, auto-fill suggestions streamlining data entry and minimizing errors.

The system tracks inflows and outflows through recorded receipts and payments. Finance teams can generate cash flow reports that provide visibility into operational, investing, and financing activities.

Yes. The system automates depreciation calculations (Straight Line, Reducing Balance, etc.) based on defined asset life and posts entries to the GL automatically.

Yes, Fixed assets can be registered with details such as acquisition cost, asset category, location, and useful life. This allows organizations to maintain a centralized asset register and track asset-related financial information.

Customer balances are maintained in real time through the customer ledger. Finance teams can review outstanding invoices, payment history, and aging details for each customer.

Yes. The system provides smart dashboards that present key financial indicators such as revenue trends, expense distribution, receivable status, and budget utilization for quick management insights.

Approval workflows can be configured based on transaction type and value thresholds. Higher-value transactions can automatically trigger additional approval levels to ensure financial governance.

Financial reports are generated dynamically based on ledger transactions stored within the system. Users can filter reports by period, cost center, project, or business unit for detailed analysis.

During reconciliation processes, the system compares ledger transactions with external records such as bank statements and highlights mismatches based on amount, reference number, or transaction date for further review.

Yes. Financial reports and transactional data can be exported into formats such as Excel or CSV for further analysis or external reporting.

Yes. Authorized users can create adjustment journal entries to record corrections, accruals, or financial reallocations while maintaining full audit traceability.

The system enforces configurable maker-checker-approver workflows. Transactions created by users can require review and approval from designated authorities before they are posted to the ledger.

Yes. The system allows configuration of financial years and accounting periods according to the organization’s fiscal calendar. Periods can be opened or closed as required.

Prepaid expenses can be recorded against designated GL accounts, and the system allows finance teams to allocate the expense over the relevant accounting periods through relevant financial entries.

Accruals and provisions can be recorded through journal entries linked to specific GL accounts. These entries ensure that expenses or liabilities are recognized in the correct accounting period even if the actual transaction occurs later.

The system supports structured month-end closing procedures by allowing finance teams to review pending transactions, post adjustment entries, reconcile bank accounts, and lock accounting periods once validation is complete. This ensures financial accuracy before finalizing reports.

Yes. Every financial transaction maintains a detailed audit trail capturing the user who created, modified, or approved the entry along with timestamps and change history.

Yes. Users can attach supporting documents such as supplier invoices, receipts, contracts, or approvals directly to financial transactions for easy reference and audit readiness.

Yes. Customer advance receipts can be recorded and linked to the customer ledger. When invoices are generated later, the system allows the advance to be adjusted automatically or manually against the invoice amount.

Yes. Vendor advance payments can be recorded during payment entry and are maintained as advance balances against the vendor account. These advances can later be adjusted against purchase invoices during settlement.

Yes. Transactions can be tagged with business units, branches, or operational divisions. This enables finance teams to analyze financial performance across different parts of the organization.

Yes. The Chart of Accounts is centrally managed within the finance module, allowing administrators to create, structure, and maintain account hierarchies. This ensures consistency across financial transactions and reporting.

Yes. The system continuously compares actual spending against configured budget allocations and generates utilization reports that highlight available balance, consumed budget, and variance.

Yes. Budgets can be configured for departments, cost centers, or projects. Finance teams can define planned expenditure limits and track actual transactions against the approved budgets in real time.

Yes. ROCKEYE supports multi-entity financial management within a single ERP environment. Each legal entity can maintain its own chart of accounts, tax configuration, and financial reports while still allowing centralized visibility and consolidated reporting across the organization.

Yes. ROCKEYE's centralized finance module supports configuration of localized tax structures. It handles taxes related to items, services, logistics, and production, ensuring compliance with country-specific tax regulations and reporting standards.

The system supports IFRS, GAAP, and OpenGAP, with flexibility to adapt to local accounting variations.

Yes. Terms & Conditions can be appended from a pre-defined master in procurement-generated invoices. For finance-initiated invoices, they can be included in the remarks section.

Journal vouchers can be created manually or auto-generated from integrated modules (e.g., Sales, Purchase). Access is controlled by user permissions — only authorized users can create or approve vouchers.

Transactions such as receipts or payments are recorded against appropriate ledgers. With bank integration, these entries are auto-matched with the bank feed using set rules or manually if unmatched.

Expenses are recorded against GL accounts during voucher creation. Cost centers can also be tagged to enable departmental or project-wise expense tracking.

Vendors can be created directly in Finance or auto-synced from Procurement. Each vendor profile stores transaction history, payment terms, credit/debit balances, and banking details.

Opening balances must be entered manually during setup. However, if bank API integration is enabled, current balances can sync in real time for reporting.

The system flags potential duplicates using unique reference numbers and audit checks during entry and reconciliation, minimizing duplication.

Exchange rates can be set manually or fetched via APIs. Currency adjustments are reflected in real time during reconciliation and reporting, ensuring accurate multi-currency accounting.

ROCKEYE uses granular, role-based access control with maker-checker-approver workflows. Permissions can be assigned at detailed levels — e.g., allowing a user to view but not edit reconciliation records.

Yes. If transaction details (amount, date, party name) match between the ledger and bank statement, the system auto-reconciles the entry. Discrepancies are flagged for manual intervention.

When integrated, the system attempts to auto-match transactions using parameters such as amount, date, and customer/vendor name. Unmatched entries are flagged for manual review, ensuring a seamless reconciliation process in near real-time.

Data migration is flexible and user-friendly. Existing records can be imported using structured Excel templates. If the legacy system provides APIs, automated data migration can be configured for a smooth and efficient transition.

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.

Yes. Finance administrators can be granted authorizations to configure system-wide settings such as accounting structures, approval workflows, and automatic reconciliation rules.

Yes. Authorized users can securely access the finance module through web-based login with appropriate authentication controls and security procedures

The system uses integrated transaction processing where activities in modules such as procurement, inventory, or sales automatically trigger corresponding accounting entries, ensuring that operational and financial records remain synchronized.

Data migration is flexible and user-friendly. Existing records can be imported using structured Excel templates. If the legacy system provides APIs, automated data migration can be configured for a smooth and efficient transition.

Yes. The system allows bulk import of financial masters (e.g., Chart of Accounts) using predefined Excel templates, easing setup and migration.

Yes. Most banks today offer APIs that enable direct integration with ERP systems. With authorized API access, features like real-time transaction sync and automatic bank reconciliation can be enabled. In cases where APIs are not available, users can upload bank statements manually for reconciliation.

By default, the system logs entries with the current date. Backdated entries are allowed if this feature is enabled in the configuration settings.