Solwit

Accounting Module

A smart tool for daily financial management that simplifies accounting and reporting while ensuring compliance with Latvian regulations.
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System Capabilities

General Ledger

Provides centralized and accurate financial data tracking. The chart of accounts can be customized for any business needs – including off-balance accounts, document templates, posting schemes, as well as automatic entries. The Solwit accounting system allows analyzing turnover by partner accounts and up to eight* analytical dimensions. Full accounts receivable tracking and control are included!

* Dimensions can be expanded upon request.

Bank Operations

Automatically import bank statements and customize posting rules for each transaction. The module links documents to payments and supports bulk payment creation. Bank imports are checked for accuracy, saving time and ensuring reliable financial data.

Analytics

Easily check transactions and account activity in multiple perspectives. Analyze your financial data in detail and see the full picture at a glance.

Automatic Entries

The system creates accounting entries from other Solwit modules (Payroll, Warehouse, Fixed Assets) and external systems. It also generates early payment discounts and performs routine tasks like closing accounts or currency conversions, saving time and reducing errors.

Next Period Expenses (NPI)

The system automatically spreads expenses across months and days, carries over analytical data, and posts entries for past periods. Everything is fast, accurate, and easy to manage.

Advance Payment Processing

Advance Payment Processing lets you track advance invoices with a complete overview of payment statuses. The system automatically records incoming advance payments and VAT, updates the Warehouse with information on paid advances, and creates automatic accounting entries, saving time and reducing errors.

Reports

Generate reports quickly using real-time data. See pivot tables, KPIs, plan vs. actual comparisons, and more. Import and export data easily for better insights into your business.

Document Journals

Manage all key financial documents in one place – invoices, advance payments, and cash transactions – for easy access and faster daily processing.

Payroll Calculation

Flexible calculation of salaries and bonuses based on hourly rates or base salary. The system can compute overtime, holiday and weekend pay, bonuses, and various types of insurance premiums.

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Fixed Assets and Low-Value Inventory Management

This module provides complete management and tracking of a company’s long-term assets and low-value inventory, fully compliant with accounting and tax requirements.

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Additional Features

Our accounting software offers a wide range of powerful tools. You can attach documents to different registers (images, PDFs, etc.), consolidate ledgers, allocate overhead costs, manage multiple companies in separate databases, and automatically import exchange rates from the ECB. Additional features are available – book a demo to explore the full functionality.

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Want to see it in action?

The easiest way is to request a demo for your company. Schedule a meeting and work with our experts to discover the best solution for your business!

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Roberts
Roberts Customer Relations Manager