Business Feature / Process | Description |
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Example/use case
Emphasis on training material
Additional notes
Accounts | An account is a ledger of financial transactions carried out between the Business and its contacts or the Business and its merchants/service providers. Account key features follow:
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Account owners | Within a business setup, an account owner is either:
The Business and Venues cannot have an account. |
Journal entries | A Journal Entry represents a transaction that debits or credits an account or the CRM.COM Wallet. Each journal:
Journal entries are kept in Mongo DB for analytics purposes. The financial Events screen in the backend |
utilises Journals collection information. In addition, dedicated Web APIs can be used to retrieve and create journal entries. | |
Credit Terms |
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Accounting Periods | An accounting period includes a set of debit and credit journals posted within a district period of time.
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Ageing Analysis | Ageing is an accounting term used to classify an account owner's |
debt depending on how long it's been due since an invoice was issued. Ageing Analysis is a financial monitoring tool that monitors contacts' debt and age. Aged Invoices can be used to review or forecast the amount owed by account owners. CRM. |
COM supports:
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Financial Transactions | Financial transactions are processes that represent a financial event and generate a journal entry in an account. |
Classifications of financial transactions:
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Multi-Currency/Multi-Countries solutions |
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Tax Region | Tax Regions that group together various countries at which the business has the same taxation obligations (e.g. EU, USA). Therefore, a region indirectly groups together a set of Tax Rates. |
Tax Rates | CRM.COM allows setting up multiple |
Tax Rates. Each Tax Rate includes:
Special attention to:
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Numbering Schemes | Numbering schemes assign a unique number to
The rest of the transactions are assigned a unique and random 16-digit code as their number. The number is set on posting the financial transactions. While in Draft state, they only have a reference number (again, a 16-digit code) |
Allocations | Allocations are used to allocate the amount of a credit transaction against the debit transaction in order to settle any overdue amount. Allocations are applied automatically by the system based on the allocation principle of the system, which can either be FIFO or FIFO and Against Item. The allocations mechanism ensures that all transaction amounts are allocated, so cases in which there's an unallocated amount in a credit and a debit financial transaction are prevented. |
Invoice Estimation | Provides an estimation of an invoice's charges before creating it
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Custom Fields | If you require additional information not supported by CRM.COM, you can create custom fields of various formats to meet your specific needs. Ability to set up Custom Fields for:
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Reports |
The first two reports include amounts in each account owner's currency, whereas the last two present the amounts in the Business's base currency. Itemised reports show results in each account owner’s currency, whereas reports presenting aggregated amounts show results in the business’s base currency. |
Insights | Insight analytics for
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Automations | Automation allows the Business to:
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