We're thrilled to announce our latest updates that further enhance Fiskl's capabilities as a leading multi-currency accounting platform for individuals and small businesses. This October, we're introducing two powerful new accounting reports that will revolutionize how you manage your accounts receivable and payable!

What's New in October 2024​

We're excited to share that our development team has outdone themselves this month. While some features take longer than expected, these new reports have been delivered ahead of schedule, providing you with essential tools for better financial management.

1. Client Aging Report: Our new Client Aging Report is a game-changer for managing your accounts receivable. This essential business tool allows you to stay on top of money owed to you and how these receivables are aging. Key features include:

   • Flexible bucket grouping (by day, week, month, or quarter)
   • Customizable number of aging buckets
   • Option to view all clients or focus on specific ones
   • Summary and detailed views for comprehensive analysis
   • Number simplification for easier reading of large amounts

   This report gives you a clear visual representation of money due from your clients, helping you prioritize collection efforts and manage cash flow more effectively.

2. Vendor Aging Report: Complementing the Client Aging Report, our new Vendor Aging Report is an indispensable tool for managing your accounts payable. This report helps you visualize and track money you owe to vendors. Key features mirror those of the Client Aging Report, including:

   • Customizable bucket grouping and number of buckets
   • Option to focus on all or specific vendors
   • Summary and detailed views
   • Number simplification feature

   Use this report to optimize your payment strategies, maintain good vendor relationships, and keep your cash flow under control.

Both of these reports are crucial for accrual accounting and provide invaluable insights for businesses of all sizes. They offer a level of customization and detail that puts you firmly in control of your financial data.

How to Access the New Reports​

We're excited to announce a significant improvement to our internal transfer matching feature in Fiskl. This update addresses the evolving needs of our users, especially in light of the increasing popularity of neo-banks and multi-currency accounts.

What's New: Refined Internal Transfer Matching​

Internal transfers are critical for maintaining accurate financial records, particularly with the rise of neo-banks like Revolut, WIO, Wise, and others that offer virtual currency accounts. These services have made moving money between currencies more common than ever before.

The Challenge​

While Fiskl has always provided a robust matching solution for transactions, including those in different currencies, we faced a dilemma:

• A wide tolerance was necessary to catch matches across different currencies.
• This wide tolerance sometimes produced too many potential matches for some users.
• For others, the tolerance wasn't wide enough, especially when banks charged fixed fees, percentages, and used poor exchange rates for cross-currency transfers.

Our Solution​

We've tackled this challenge head-on with a two-pronged approach:

We're thrilled to share our latest updates that further cement Fiskl's position as one of the best multi-currency accounting platforms for individuals and small businesses. This September brings exciting new features that will enhance your financial management experience.

What's New in September 2024​

We've been hard at work improving Fiskl, and we're excited to introduce three major updates:

1. Fi - Your AI Advisor: Meet Fi, our new generative AI designed to help you navigate Fiskl and understand accounting concepts with ease.

2. General Ledger Report: Our new General Ledger report provides a comprehensive view of all your financial transactions, perfect for detailed analysis and auditing.

3. Transactions by Account Report: The Transactions by Account report offers an in-depth look at your financial activities across different accounts, ideal for multi-currency businesses.

Video Walkthrough​

To give you a closer look at these exciting new features, we've prepared a short video demonstration. Watch as we walk you through Fi, our AI advisor, and showcase the powerful new accounting reports:

Why These Updates Matter​

• Fi AI Advisor: Fi brings the power of AI to your fingertips, helping you navigate Fiskl, understand accounting concepts, and make informed decisions about your finances. It's like having an accounting expert available 24/7.

We're thrilled to introduce the latest innovation in Fiskl's suite of tools: Fi, your AI-powered Fiskl advisor! While we've been leveraging AI behind the scenes for some time, Fi marks our first venture into generative AI, designed to revolutionize how you interact with Fiskl and navigate the world of accounting.

Meet Fi: Your Personal Accounting Expert​

Accounting has long been both a regulatory necessity and a powerful business tool. Unfortunately, for many businesses, this invaluable resource has been locked away in their accountant's office. With Fi, we're changing that paradigm. Now, you have a knowledgeable advisor at your fingertips, ready to help you understand Fiskl, accounting principles, business strategies, and even tax-related queries.

How Fi Works​

Fi has been meticulously trained on all Fiskl documentation, as well as a vast array of public data relating to accounting, business, and taxes. This comprehensive knowledge base allows Fi to provide insights and answers across a wide range of topics, including:

• Fiskl features and functionalities
• Accounting concepts and best practices
• Business management strategies
• Tax-related information

Key Features of Fi​

🌍 Multilingual Support​

Fi is fluent in multiple languages, adapting to communicate in the language you use to ask questions. This ensures that language barriers don't stand in the way of accessing expert financial guidance.

We're excited to introduce the latest addition to Fiskl's powerful reporting suite: the General Ledger report! This feature takes financial analysis to the next level, offering unprecedented flexibility and detail, especially for businesses managing multiple currencies.

What's New: General Ledger Report​

The General Ledger report provides a comprehensive view of your financial activities with advanced grouping options and multi-currency support. Here's what makes it special:

🌍 Comprehensive Multi-Currency Support​

• Triple Currency View: See transaction amounts in original currency, account currency, and your base accounting currency - all in one place!
• Detailed Breakdown: View gross, net, and tax amounts for each transaction across all currencies.
• Exchange Rate Tracking: FX rates are included for easy currency conversion monitoring.

🔍 Flexible Grouping Options​

Group your transactions by:

• Ledger Account
• Transaction Type
• Date
• Year
• Quarter
• Month

This flexibility allows for deeper insights and easier analysis of your financial data.

The Multi-Currency Reconciliation Challenge​

As a business owner dealing with multiple currencies, you know the headache of reconciling Stripe payouts. With payments, subscriptions, refunds, and fees in various currencies, it's a complex puzzle that can leave you frustrated and potentially overpaying on taxes. But what if I told you there's now a solution that makes this process a breeze?

Introducing Fiskl's Enhanced Stripe Integration​

We're thrilled to announce a major upgrade to our Stripe integration that will revolutionize how you handle multi-currency transactions and reconciliations. 🎉

We're thrilled to announce a powerful new addition to Fiskl's reporting suite: the Transactions by Account report! This feature is designed to revolutionize how you view and analyze your financial data, especially if you're managing multiple currencies.

What's New: Transactions by Account Report​

The Transactions by Account report offers an unprecedented level of detail and flexibility in tracking your financial activities. Here's what makes it special:

🌍 Comprehensive Multi-Currency Support​

• Triple Currency View: See transaction amounts in original currency, account currency, and your base accounting currency - all in one place!
• Detailed Breakdown: View gross, net, and tax amounts for each transaction across all currencies.
• Exchange Rate Tracking: FX rates are included for easy currency conversion monitoring.

🔍 Unparalleled Transaction Detail​

Get a granular view of your finances with information on:

Get ready to streamline your banking and invoicing with our latest update! 🚀​

• Experience seamless integration with WIO Bank, the fastest-growing challenger bank in the UAE.
• Enjoy a major facelift to our invoicing process, making it even more user-friendly.
• Discover updated screens for payment schedules, recurring invoices, and invoice previews.
• Explore our refreshed Chart of Accounts creation process.

Elevate your business operations with our feature-packed Release 5.1.0! 💼✨​

Get ready to take your multi-currency accounting to the next level with these game-changing updates! 💪​

• Our enhanced Chart of Accounts now offers unparalleled support for all your multi-currency needs.
• Experience the power of seamless cross-currency matching, splitting, internal transfers, and more with our revamped accounting transaction screens.
• Take full control of exchange rates at the transaction level, putting you in the driver’s seat.
• Say goodbye to manual adjustments with our new auto FX adjust functionality, saving you time and effort!