ince day 1, reports have been available on our platform in a straightforward way - you can select the dates, the purpose (payroll or accounting), and download them whenever needed. Similar to everything we do at Coverflex, the idea here is to provide you with a no-friction experience - in this case, for the company and, in particular, for our beloved accountants.
We now have 300 companies and almost the same number of accountants working with us, and we have been listening to them - AKA, we have been listening to you!
After gathering your feedback, we have been updating our reports to make your life easier at the end of each month. Keep reading to find out about what we have learned so far and what's changed.
What needed changing?
We realised that, even though all the information was available for you, it demanded navigation and multiple clicks from your side as well as aggregation and validation from the accountant, especially at the end of the month (you can relate, right..?). This is what we've learned:
- Not everyone is a fan of CSVs;
- It was hard to reconcile the balance in the company account and the allocated balance to employee benefits;
- It was hard to understand all the movements of the account, what went in and what went out;
- Meal transfer statements were not aggregated in such reports.
You asked, and we delivered
We got busy - and we made it! Here's what we did, fresh out of the oven:
- We communicate with you via Excel now. Considering this is the standard format you normally use, we thought it would make things easier for you;
- Account statements: we changed our accountant's report from a "spendings report" to a proper "account statement" that explains all the ins and outs of the company account. Together with your account balance statement, we hope this helps your accountant getting a grasp of your financials at Coverflex;
- File organisation: in line with the previous organisation system, all the necessary evidence for accountants is located in the same place.
Reports are still in the same place where you are used to finding them on your dashboard ("Wallet" → "Reports") - we simply upgraded them:
We have also been working on our Accountants Manual for you and your accountants to help you navigate and understand all the financial flows, how our reports work, and to give you some suggestions on how to treat your employees' spending for payroll. If you don't have this in your hands yet, please get in touch with us.
