E-conomic contains all the functions of a conventional accounting system - and much more
E-conomic provides an online accounting environment that enables accountants and bookkeepers to deliver more revenue earning services at lower cost through the use of easy-to-use tools combined with instant access to clients’ accounts.Accountants and bookkeepers use E-conomic to service all kinds of client needs, ranging from bureau work to annual accounts production.
We call it the E-conomic way®
Looking for a coherent accounting solution that saves you time? It is already available. We call it the E-conomic way®.The philosophy is that of a simple workflow in which routine jobs are minimised, so that you can concentrate on consulting with your customers.
A simple, flexible and secure solution
With the e-conomic way®, you and your customers work online on the same accounts, and you can access to the same updated data – anywhere and anytime.Flexible sharing of work is possible without having to send invoices and files back and forth. Easy-to-use, flexible and secure.
All data on the same platform
With the e-conomic way®, all data is gathered and integrated on one platform, including data capture, data processing and reporting.
Innovative, time-saving features include document scanning, automated bank reconciliation and direct integration with Microsoft Excel.
More time for your core competencies
As an accountant, the time you normally use on entering data from other systems will be reduced considerably since you can exchange, retrieve, import and re-use validated data in e-conomic.
Routine jobs like entering invoices become much simpler and can, for instance, be done by the client themselves or outsourced to a third party.
What does this mean in practice?
Our online environment is easy to use, but with a depth of functionality that most accountants find reassuring.The standard modules include general ledger, accounts payable, accounts receivable, invoicing, reporting and multi-currency.
Add-on modules are available for project accounting, stock management, subscription, mass invoicing and document scanning.
Some clients are more self-sufficient than others - in e-conomic you can have a different division of labour with each client, from those who are self-proficient to those who don’t do any bookkeeping themselves.
For all types of client, you can consistently apply your standards using tools that enable you to set up clients quickly and manage them with ease.
Instant access to your clients’ accounts over the internet 24/7, from any location, allows you to provide service and maintain control whenever needed.
Work can be undertaken by the most appropriate resources wherever they are, creating the potential to service clients in new ways that improve retention and increase profitability.
Client queries can be dealt with faster and much more easily - there are no delays while you wait for files to arrive and there’s less need to travel to clients’ offices, because everything can be managed in real-time wherever there’s an Internet connection.
By utilising the provided data import and data quality tools, documents and transactions can be processed automatically rather than re-keying, resulting in a significant reduction in errors and overheads.
All of the usual reports are provided plus the ability to export data to Microsoft Excel anywhere in the application.
How does it work?
Each practice has its own e-conomic Administrator Module, providing unlimited access to clients’ accounts and many useful productivity tools.Through the Administrator Module you can:
- Set up a new client in seconds using standard templates containing your preferred settings and accounts structure.
- See clients’ accounts in real time and discover issues as early as possible.
- Import databases of customers, suppliers, products and opening balances, even historic accounting entries.
- Create tailored menus to suit each client’s needs and the level of service you are providing.
- Monitor clients’ use of the system and use the built-in approval process, to ensure that all bookkeeping entries are correct before they are committed to the accounts.
- Import and process any entries that can be obtained from source systems in electronic form, e.g. bank transactions, supplier invoices, etc.
- Create an unlimited number of free logins for your colleagues and control which clients they can have access to.
- Download data for the production of bespoke reports and period-end accounts. Easy-to-use screens enable you to select and review the data you need, from a simple trial balance to the complete set of accounting entries for a whole financial year. A single mouse click instantly exports the data to Microsoft Excel.
You can also allow your clients to log on to e-conomic directly from your own website, with your company logo displayed in the system itself.
We provide training plus unlimited access to our free hotline for both you and your clients. We also look after all backups and upgrades, so that you always see the most up-to-date version every time you log on.
What controls are there?
Having direct access to your clients’ accounts means that you have much more control than would ever be possible with PC-based software.
In e-conomic you can:
- Manage the accounts setup to ensure that records are being entered correctly.
- See what activity there has been at any time.
- See a log of your own administrator actions across the companies you administer
- Make real time adjustments to the accounts.
- Utilise the built-in approval process to review/approve bookkeeping entries before they are committed to the books.
- Create a tailored user interface to match a client’s exact requirements, so that they do not see parts of the system that they do not need.
- Choose whether you or the client receive subscription invoices from e-conomic, enabling you to decide whether to expose the client to any cost in respect of the system.
What does it cost?
All accounting/bookkeeping practices receive a free-for-life online Administrator Module, giving unlimited real time access to clients’ accounts and all the controls you need to ensure their accounts stay in good shape.
Each client incurs a monthly subscription which they can pay direct to e-conomic or you can pay on their behalf, enabling you to control the cost to the client.
The cost per client is based on our standard pricing, but we also offer volume discounts and bureau licenses at a significant discount to the standard price.
