Anno 2013, there is a huge shortage of Accountants. One is as much as 10% short of manpower in that industry.
Where demand exceeds supply, prices rise.
So then adequate linked financial records are urgently required as accountants can then limit themselves to checking manual entries.
This is the name we use for the financial management of all booked invoices, payments and receipts processed within Real Insurance.
Use of Real Finance is not mandatory, but financial accounting within Real Finance is automatic. Exporting the financial data to a financial administration applied externally remains an option that can continue to be applied if desired.
Team RealXS has chosen to link the portfolio administration directly to a financial administration. This is the only way to achieve 100% certainty regarding the amount of premiums and claims booked. Should an auditor ever discover that something is wrong with the financial administration, Team RealXS can always reconstruct whether the error was caused inside or outside the system.
Entrepreneurs engaged in the business of providing financial collateral have a keen interest in a sound financial foundation. Auditing the figures is usually the responsibility of an external auditor. The accountant is expected to do a good job. This is usually quite time-consuming, especially if the figures are not optimally correct or not available.
An accountant who can complete his work efficiëntly will therefore cost less, while being able to sign the all-important auditor's report unreservedly.
Reducing internal costs is the basis of our vision at RealXS.
Reducing external costs is automatically the consequence.
The name RealXS is pronounced "Real Access".
In other words: software for data that is truly accessible to Management.
The designers have put maximum effort into ensuring that business activities can be
take place in an orderly and transparent manner.
We have grouped the software related to the administrative processing of everything to do with insurance products under the heading: "Real Insurance".
Real Finance is the name we use for the financial management of all booked invoices, payments and receipts processed within Real Insurance.
Use of Real Finance is not mandatory, but financial accounting within Real Finance is automatic. Exporting the financial data to a financial administration applied externally remains an option that one can continue to apply if desired.
After all, many companies use an external system for financial accounting. In other words, after invoices are prepared, printed or sent by email, the invoice data is exported to the external system, where it is processed in a financial accounting system.
Since we believe that exporting data always carries the danger that it will not arrive, only partially or corrupted, we felt that Real Insurance should be directly linked to Real Finance.
So should there ever be a difference between the general ledger account debtors and the corresponding sub-administration, an accountant can check at a glance whether these differences are also found in Real Finance. If he does not find the differences there, he will know where to look for the error. If he finds the differences there as well, there is a structural error within Real Insurance. Incidentally, we have never been informed that Real Finance has processed an incorrect entry.
The standard general ledger must of course be provided with accounts on which journal entries can be made for premiums, costs, taxes, rewards and claims. If you wish to apply a factor such as premium, refund or supplement within the invoicing, you will have to indicate to which ledger account the journal entry should be processed.
Obviously, the accountant must be able to rely on the figures as found in the general ledger. Naturally, Real Finance also has a standard account for Debtors and an account for Creditors.
Where there are large numbers of relationships with which one does business, a sub-administration for Debtors and Creditors offers a solution. The current status of financial affairs can then be viewed via a current account and can also be accessed digitally by designated employees.
Its up to you
Entrepreneurs who only want to use Real Finance for sub-administration can do so without hesitation. However, those who are comfortable with overall processing using Real Finance can do away with external accounting packages.