This documentation walks a new finance administrator through the first two weeks on VEPSuite FINAC. It covers account structure, opening balances, user roles, and the reporting steps that most teams need before their first month-end close.
Follow the modules in order for a clean rollout, or jump to the section you need. Each step includes the settings to confirm, the data to prepare, and the checks that keep your ledger consistent.
Key takeaways
- Set up a chart of accounts that matches your reporting structure
- Import opening balances without breaking prior periods
- Assign finance, approver, and viewer roles correctly
- Run a trial reconciliation before your first live close
- Produce a board-ready summary from clean transaction data
1. Prepare your account structure
Before entering transactions, agree on the account hierarchy your team reports against. A clear structure makes budgets, cost centres, and department views easier to maintain later.
FINAC supports multi-level accounts, so you can mirror how your organisation already thinks about spend.
- Define asset, liability, equity, income, and expense groups
- Map cost centres to departments or projects
- Choose account codes your team can read at a glance
2. Load opening balances
Bring in closing balances from your previous system and lock the opening period. This protects the integrity of comparative reports and keeps your audit trail intact.
If you work across currencies, confirm the base currency and exchange-rate source first.
3. Configure users and approvals
Give each person the smallest role they need. Finance officers capture and review, approvers sign off, and leadership sees read-only dashboards.
Approval routing can be as simple or as layered as your governance requires.
4. Run your first close
Reconcile the bank, review the trial balance, and generate the P&L, balance sheet, and cash flow statement. Compare against last year before you publish.
Once your first close is clean, schedule automated delivery so stakeholders receive reports without manual effort.
