e-conomic Integration

Overview

The e-conomic integration provides seamless accounting and financial management capabilities for your charitable giving program. This integration automatically synchronizes donation transactions, generates proper accounting entries, and ensures compliance with financial reporting requirements.

Features

Automated Accounting

• Transaction Sync: Automatically import donation transactions into e-conomic
• Chart of Accounts: Map donations to appropriate accounting categories
• Multi-entity Support: Handle multiple legal entities and subsidiaries
• Currency Management: Support for multi-currency transactions and conversions

Financial Reporting

• Real-time Updates: Donation data appears immediately in e-conomic reports
• Tax Reporting: Generate tax-compliant reports for charitable deductions
• Audit Trails: Maintain complete audit trails for all donation transactions
• Custom Reports: Create specialized reports for donation program analysis

Compliance & Documentation

• Regulatory Compliance: Ensure compliance with local accounting standards
• Documentation: Automatic generation of donation receipts and certificates
• Approval Workflows: Implement approval processes for large donations
• Reconciliation: Automated reconciliation between donation and accounting systems

How It Works

Transaction Processing

• Donation Capture: Donations are processed through Actnation
• Automatic Sync: Transaction data is sent to e-conomic in real-time
• Account Posting: Entries are posted to appropriate accounts automatically
• Reconciliation: System performs automatic reconciliation checks

For Finance Teams

• Streamlined Bookkeeping: Eliminate manual entry of donation transactions
• Real-time Visibility: Monitor donation program financial impact instantly
• Automated Reporting: Generate financial reports including donation data
• Compliance Management: Ensure proper documentation and audit trails

For Accounting

• Proper Classification: Donations are correctly classified in financial statements
• Tax Optimization: Maximize tax benefits from charitable giving programs
• Audit Readiness: Maintain audit-ready documentation and trails
• Multi-period Reporting: Track donation trends across accounting periods

Configuration Options

Account Mapping

• Donation Accounts: Map different donation types to specific accounts
• Tax Accounts: Configure accounts for tax-deductible donation tracking
• Expense Categories: Set up proper expense categorization for corporate donations
• Department Allocation: Allocate donations to specific departments or cost centers

Processing Rules

• Approval Thresholds: Set automatic vs. manual approval limits
• Posting Schedules: Configure when transactions are posted to e-conomic
• Validation Rules: Implement data validation and error checking
• Reconciliation Settings: Define reconciliation frequency and parameters

Reporting Configuration

• Standard Reports: Configure standard financial reports to include donations
• Custom Dashboards: Create specialized dashboards for donation program metrics
• Export Formats: Set up automated exports for external reporting needs
• Alert Settings: Configure alerts for unusual donation patterns or errors