Industry : Fintech
FinAccel is a financial technology startup creating disruptive and meaningful products in retail credit for Indonesia, the 7th largest economy in the world and home to nearly 10% of the world's population. FinAccel is currently focused on disruption in the unsecured lending space.
Mandate for Smart Books
Smart Books mandate was to implement ERP and also to streamline the accounting and reporting function in line with the statutory requirement of the country as well as management reporting. The roles entails booking revenues and cost on time, authorizing and keeping track of expenses including expenses, managing and forecasting future cash flows, identifying areas of improvement and create a well-accepted process.
How FinAccel benefited
Smart Books role extend beyond what was mandated. We identified the ERP which was best fitted for the company from the point of view of usability as well as cost. We created the GL structure as well as tax process in the ERP.
Smart Books also created the process of revenue and direct cost booking in the ERP. We created the entire P&L and Balance Sheet structure as per statutory requirement and as well as monthly comparison P&L and Balance Sheet for the management. In addition to this created multiple MIS reports for the management.
We have created multiple SOPs for the company such as Travel, Employee Reimbursement, Revenue Booking, Cost Booking, etc.
Even though it was not mandated we also trained the local accountants, because we are Business Partners and not service providers.