Operational Management Accounting
Wremia provides a double entry accounting system for operational purposes only. Any actions taken under Project Management and Expense module can be recognized in accounting module. We provided an accounting framework with maximum automation capabilities.
Major accounting cycles are:
- Sales invoice recognition, credit-notes and cancellations
- Sales taxes
- Expense invoice recognition
- Advances received / paid
- Cash transactions (cash & bank accounts, collections and payments)
- Automated customer & supplier journal entries
- Accruals (accrued income and expense accruals and reversals)
- Automated foreign currency valuations, realized and unrealized fx gain/loss entries
- Manuel entries
Currently below transactions not supported*:
- Inventory
- Fixed assets and depreciation/amortization
- Financial assets (except cash and bank accounts) & liabilities and derivatives
- Payroll
- Income taxes
- Shareholders’ Equity
- And we do not provide any country specific tax forms and regulatory services
Although it is possible to create accounts and book manual entries for some of them, we do not recommend and support these actions.