XSoft Financials™ is a highly configurable, cloud-based solution, which is hosted in a secure Microsoft Azure environment, and accessible via any current web browser. Our goal was to create a user-friendly application for all aspects of the auditor’s and treasurer’s office day-to-day financial duties.
At the heart of XSoft Financials™, the General Ledger component is used to record and organize financial transactions. It serves as the central repository and comprehensive record of a county’s financial activities, allowing users to setup accounts, funds, departments, and line items, with the account mask automated via a dropdown menu of the fund, department, category, and line item. Rooted in fund accounting principles, the General Ledger is also used to manage transaction lists, fiscal periods, and a variety of standardized reports.
Multi-Year system - XSoft Financials™ is set up to handle multiple years of data. Specific tables and fields exist that are year sensitive, allowing for the capture and storage of data by year. This will allow users to not only work in the current year, but also prior and future years. The design allows users to have access to prior and current year data.
Grant Tracking – XSoft Financials™ is designed to manage the entire lifecycle of grants, from initial application to final reporting, including; application management, review and evaluation, tracking key milestones and deliverables, and reporting/compliance requirements.
For counties with XSoft Financials™ and XSoft Tax™, the two systems will provide a seamless integration that will automate many of your daily functions. XSoft Financials™ will also provide standard integration, which includes the necessary procedures and processes to integrate data with other property tax billing and collection software. Customized integration will be developed in conjunction with our clients and third-party vendors at the client’s request.
The Accounts Payable component allows maintenance of vendor records and recording of transactions for vendor invoices and vendor payments. Like other components in XSoft Financials™, the accounts payable workflow can begin from the search screen (vendors, open invoices, etc.).
A robust cash book will be included to manage tax collections, cash on hand, and advanced collections, fully integrated with INtax™. Click here for a short video of cash book. The cash book module of XSoft Financials™ can be operated as a stand-alone component.
Cash receipts are managed within XSoft Financials™ by receipt date, type, and detail, including tender type and electronic signatures. In addition, users can easily produce a daily report of collections with the touch of a button. Like other XSoft Financials™ components, users can add a variety of notes and attachments where needed.
Bank reconciliation is the process of comparing and matching the transactions recorded in XSoft Financials™ with the transactions reported by the bank in its statement. It helps to ensure that the county’s financial records are accurate and complete by identifying any discrepancies or errors between the two sets of records. As a final step in the bank reconciliation process, a standard report is generated, which provides a clear audit trail and serves as a reference for future reconciliations or audits.
A robust payroll system is included within XSoft Financials™. The payroll component was designed to streamline the process of calculating and managing employee salaries, wage, deductions, and other related tasks. It serves as the centralized system that handles various aspects of payroll processing, such as calculating gross wages, applying tax deductions, accounting for benefits and allowances, generating pay slips, and facilitating direct deposits or printing physical checks. The payroll component can be integrated with third-party timekeeping/attendance system, which gathers accurate data on employee hours worked and leave taken.
Notes and Attachments
Notes can be entered in every component of XSoft Financials™, and the notes are searchable, which greatly assists the user in locating information stored in the system. In addition, you can attach files to specific records within the system, such as a scanned image, PDF, or spreadsheet.
The searching component allows the user to search for the various types of records, based on a wide variety of characteristics. It includes both basic search, as well as advanced search options. The intent of this component is to allow the user to find records based on all critical fields—effectively a built-in query writer. Designed to provide the user with the ability to view data, manage the database and run processes and reports, this component will give the user complete control in locating and modifying records within the database.
The reporting component allows the user to generate a wide variety of standard reports and unlimited potential for custom reports at their discretion. Reports needed for daily, weekly, monthly, and annual processes will be available at the click of a button.
The Help menu provides the user with a fully searchable, context sensitive help file designed to provide documentation of the user-interface and application, detail about the design environment, and tutorials to assist with the use of the product. This component is a help file and user manual all in one.
Comprehensive Importing / Exporting
The import/export routines that are currently available to users include:
- financial statements
- transaction data
- payroll data
- regulatory compliance
State Specific Solution
As a flagship product, XSoft Financials™ has been architected in such a way that it can be tailored to fit specific state requirements, such as, reports. This architecture is critical to ensure stabilized software as new releases are published, tested and released to the XSoft™ customer base.
INfinancials™ for example, is the Indiana version of XSoft Financials™, which will be tailored to fit the specific needs for the State of Indiana, including numerous on-demand reports, forms, data extracts, tables, etc., all specific to Indiana requirements.