Module

Core Accounting

Control chart of accounts, journal entries, receivables, payables, banking, reconciliation, budgets, and financial statements in one connected finance workspace.

Core Accounting gives finance teams one workspace to govern postings, balances, period controls, and reporting while staying connected to commercial and operational records across Xfatora.

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KSA Compliance

Saudi invoicing controls for this module

Map this module to your ZATCA rollout so finance, sales, and compliance teams share one controlled process.

Open KSA pillar Read compliance guide Phase 2 integration

What this module helps you control

Chart of Accounts structure and account governance
Financial periods, closing date policy, and period discipline
Manual Journal Entry review, approvals, and adjustments
Accounts Receivable and collections visibility
Accounts Payable and payment obligation control
Bank account and cash balance monitoring
Reconcile routines and exception handling
Budget setup and budget performance review
Financial statements, ledgers, and Audit Log traceability

Business outcomes teams expect

Maintain one finance-controlled source of truth across ledgers, subledgers, and reports.
Connect operational records with accounting impact so finance and operations review the same numbers.
Improve visibility into Accounts Receivable and Accounts Payable before balances become risk.
Close periods faster with clearer month-end tasks, reconciliations, and review checkpoints.
Strengthen reconciliation discipline through structured bank and cash matching routines.
Improve quality of Journal Entry and adjustment review with better evidence and approval control.
Provide leadership and auditors with decision-ready statements, ledgers, and transaction detail.
Control bank and cash movement visibility in one place for better liquidity monitoring.
Track Budget versus actual performance to support corrective management action.
Keep a more reliable Audit Log for change traceability and governance.

What teams use most in this module

Practical capabilities that make day-to-day execution faster, cleaner, and easier to govern.

Chart of Accounts

Design a structured account framework that supports statutory reporting, management analysis, and disciplined posting rules.

Parent and child hierarchy for grouped reporting
Account types and detail types aligned with policy
Optional account numbering discipline for consistency
Opening balance planning by account class
Naming conventions that reduce posting confusion

Journal Entries and Adjustments

Prepare and review Manual Journal Entry activity with clear debit/credit logic, support notes, and period-end control.

Manual Journal Entry creation with multi-line posting
Debit and credit visibility before posting
Adjustment entries for period-end requirements
Reason and evidence capture for audit readiness
Review and approval discipline for sensitive entries
Correction and reversal handling where policy requires

Accounts Receivable

Monitor customer invoice impact, open balances, and collection status with aging visibility that supports faster follow-up.

Customer invoice impact on receivable balances
Open balance and due-date tracking
Payment application to invoices
Accounts Receivable Aging Summary and Detail visibility
Overdue follow-up support for collections
Cash collection monitoring for finance review

Accounts Payable

Control vendor bills, due dates, and payment status so finance teams can plan outgoing cash with fewer surprises.

Bills and payable records by vendor
Due-date and aging visibility for payment planning
Approval status review before payment release
Unpaid, paid, and approved state tracking
Accounts Payable Aging Summary and Detail monitoring
Cash planning context for finance leads

Banking and Cash Management

Track Bank account and cash account movements with posted transaction visibility and structured cash-position oversight.

Bank account and cash account setup
Deposits and withdrawals tracking
Posted bank transactions review
Cash balance visibility by account
Banking activity context for treasury monitoring

Reconcile

Run repeatable Reconcile routines that compare book activity with statement balances and enforce completion evidence.

Reconciliation period selection and cadence
Beginning and ending balance checks
Uncleared and unmatched item review
Difference investigation and resolution
Adjustment entry support when required
Reconciliation completion discipline with retained records

Financial Statements and Core Reports

Deliver close-ready outputs for management, controllers, and auditors with statement-level and transaction-level visibility.

Balance Sheet and Profit and Loss review
Trial Balance verification for period control
General Ledger detail by account and date
Transaction List by Date and Transaction Detail by Account
Statement of Cash Flows for liquidity review

Audit Log and Period Controls

Protect accounting integrity with closing date policies and full traceability of finance-related changes.

Closing date policy to restrict backdated edits
Exception handling after close with controlled access
Audit Log review of who changed what and when
Governance checks for high-impact updates
Period-close control support for finance leadership

Budgeting and Budget Performance

Prepare budgets and compare actual performance to planned targets so managers can act on variance early.

Budget creation by period and structure
Prior-year-based or scratch-based planning support
Budget overview for finance and management teams
Budget vs actual performance tracking
Variance review during monthly performance cycles

Tax and Mapping Controls

Set finance mappings carefully so transactions post consistently and reporting stays coherent across modules.

Tax mapping discipline by transaction context
Payment mode mapping to the right accounts
Expense and item mapping consistency
Configuration review controls before go-live
Cleaner downstream reporting quality

Start with this workflow

Follow these structured steps to launch one controlled process first, then expand.

Setup and Go-live Readiness

1

Confirm fiscal year, periods, and reporting structure

2

Define Chart of Accounts and numbering policy

3

Set opening balances and validate dependencies

4

Validate customer and vendor master readiness

5

Set journal review and approval rules

6

Test Trial Balance and report baseline before go-live

Accounts Receivable Workflow

1

Issue customer invoice

2

Track receivable and open balance

3

Record and apply payment

4

Update remaining balance and status

5

Review receivable aging

6

Escalate overdue follow-up

Accounts Payable Workflow

1

Record vendor bill

2

Review due date and payable exposure

3

Complete approval based on policy

4

Record payment

5

Review payable aging

6

Monitor cash impact

Journal and Adjustment Workflow

1

Prepare journal entry

2

Validate debit and credit totals

3

Attach reasoning and evidence

4

Review and approve

5

Post entry

6

Verify impact in ledger and statements

Bank Reconciliation Workflow

1

Choose Bank account and reconciliation period

2

Compare bank activity with recorded transactions

3

Identify unmatched or uncleared items

4

Post adjustments where required

5

Complete Reconcile process

6

Retain reconciliation evidence

Monthly Close Workflow

1

Confirm operational records are complete

2

Reconcile bank and cash balances

3

Post adjusting journals

4

Review Trial Balance and General Ledger anomalies

5

Review Profit and Loss and Balance Sheet

6

Close period and restrict backdated changes per policy

Who this module is for

Finance Administrator and Finance Lead
Accountants responsible for journals and close activities
A/R and collections teams
A/P teams managing vendor obligations
Controllers and finance managers
Auditors and read-only reviewers
Founders and leadership teams requiring finance visibility

Common problems this module helps solve

Disconnected accounting records and spreadsheet reconciliation
Delayed month-end close due to inconsistent controls
Unclear receivable and payable status across teams
Weak reconciliation discipline with unresolved bank differences
Manual adjustment risk without proper review and evidence
Poor visibility into balances, statements, and ledgers
Inconsistent Chart of Accounts design and account usage
Limited audit traceability for finance record changes

Where teams apply this module

Finance teams standardizing posting and close controls
Organizations that need clearer Accounts Receivable and Accounts Payable governance
Businesses requiring recurring reconciliation discipline
Management teams that need period-based financial statements and drill-down detail
Audit-focused organizations improving change traceability and close rigor

Connected records across modules

CRM and Sales records for receivable visibility
Procurement records for payable obligations
Inventory and cost movements for finance oversight
Payroll and Asset Management impacts on finance review
Data Exporter outputs for audit and external analysis

Built-in Reports & Analytics

Balance Sheet — validates financial position for leadership and board review
Profit and Loss — tracks operating performance and margin outcomes
Trial Balance — verifies account balances before close sign-off
General Ledger — provides transaction-level movement by account
Audit Log — shows who changed what and when for governance review
Transaction List by Date — supports period activity reviews and anomaly checks
Transaction Detail by Account — supports account-level investigation and audit follow-up
Accounts Receivable Aging Summary — prioritizes collection actions by aging bucket
Accounts Receivable Aging Detail — supports customer-level follow-up planning
Accounts Payable Aging Summary — supports payable obligations and disbursement planning
Accounts Payable Aging Detail — clarifies vendor-level settlement status
Statement of Cash Flows — supports liquidity and cash movement decisions
Budget Overview — summarizes planned vs actual trajectory by period
Reconciliation reports — evidence that reconciliations were completed and differences resolved

FAQ

Can we structure our own Chart of Accounts?

Yes. Finance teams can define hierarchy, account types, naming conventions, and optional numbering discipline based on policy.

Can finance review and approve Manual Journal Entry records?

Yes. Review and approval controls can be enforced for sensitive journals, adjustments, and period-end entries.

Can we track Accounts Receivable and Accounts Payable separately?

Yes. Both subledgers are tracked independently with dedicated aging visibility and follow-up workflows.

Can we reconcile bank accounts inside the system?

Yes. Reconcile routines support period selection, uncleared item review, difference handling, and completion evidence.

Can we monitor unpaid and overdue balances?

Yes. Aging reports and open-balance views support collections and payable review cycles.

Can we close the books or restrict old-period edits?

Yes. Closing date controls can restrict backdated edits while allowing controlled exceptions under governance.

Can we compare Budget vs actual performance?

Yes. Where budgeting is enabled, teams can review Budget Overview and variance patterns against actual performance.

What reports are available for finance review?

Core reports include Balance Sheet, Profit and Loss, Trial Balance, General Ledger, aging reports, Audit Log, cash flow, and reconciliation outputs.

How should opening balances be handled at go-live?

Load opening balances from an approved source, validate dependencies, and confirm Trial Balance baseline before live posting.

How does Core Accounting connect to sales, purchasing, and other records?

Customer invoices affect receivables, supplier bills affect payables, and related operational records provide context for financial review and close control.

Plans that include this module

Confirm commercial fit before rollout planning.

Business Plan
Enterprise Plan
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Ready to evaluate Core Accounting with your team?

We will map this module to your current process, owners, controls, and rollout timeline.

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User guide

How to use Core Accounting

Setup checklist, key workflows, reports, and troubleshooting.

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