To activate the automation components, an Annual Platform Services Subscription Fee of $ 1 250.00 (excluding sales tax or VAT) is required.

The components selected as part of the Pre-Defined Plans and/or included in the Automated Do-it-youself Plan are activated and integrated, and available for immediate use.

Data migration services for 2 years are included in the Annual Platform Services Fee and Plan Price for ALL “Automated” Plans – Current year and prior year.
Services required for additional data migration if more than 2 x years, are dependent on transaction volumes and complexity. Udexx will be able to supply a quote after an in-depth customer discovery work session.

Configuration and setup of the Organization and the accounting processes for use after data migration is included in the Plan Price where indicated – this could include e.g. changing the Chart of Accounts or Designing better reporting structures.

User training is included in the Price Plan where indicated (no additional costs for user training)

Real time dashboards are activated for all automated plans.

Since Sales or NFP Fund income accounting and account receivable management is critical – with Udexx pre-defined plans – processing of sales and accounts receivable payments are processed daily.
In case a Udexx Pre-defined plan is selected – The customer will be responsible for processing Sales invoices and Credit notes – Udexx will be responsible to monitor and execute processing of payments received on a daily basis. An age analysis will be available for review on a daily basis.

Customers can activate the procurement processes by processing Purchase Orders daily – with Udexx pre-defined plans, accounts payable processing using the relevant purchase order numbers created by the client – is automated.

Udexx and Xero bank feeds are designed to deliver bank statements on a daily basis automated. Processing of said bank statement transactions do not have to be executed daily – it can be delayed to weekly or monthly processing.
With the automation activated – after the first 2 or 3 months of machine learning, general ledger transactions are proposed for automation.

Weekly accounting updates – weekly management accounts to customers with weekly bank reconciliations and status of records procedures.

The accounting framework can be integrated with the customer PayPal account and Stripe, for card payment processing as part of the Sales invoicing and accounts receivable business processes. This ensure quicker payment cycles by customers and better cash flows.

Best practise Month-end reconciliation and Status record procedures are performed before month-end close. Official month-end close once the client has signed off on the management accounts circulated.

A structured set of management accounts – as defined by the client and/or auditors – are published and reported on monthly.

Two Budget versions received from clients are imported into the accounting records and reported against on a monthly basis.
The Business performance dashboard is activated to measure all KPI’s of the business, and to highlight and initiate corrective actions where required in the business.

Daily accounting & journals – Daily accounting and update of the accounting records – Daily bank reconciliations.

Daily Bank reconciliation (all accounts)

The premium version automation of the accounts payable function is activated. Documents supplied by suppliers providing invoices and statements are routed through a document hub and are processed in an automated manner using OCR technology. The process is designed with various entry points and check points –  final verification and approval by the client is required.
All supplier documents are filed electronically in a central location off-site. This function includes a monthly supplier contacts database cleanup and re-organization with the client assistance.

1099 Reporting – Activating the automation of all 1099 payments and receipts for reporting to the IRS.

Activating Spend Management and Purchase Approval workflows functionality for electronic approval of all spend and purchases. The work flow rules are implemented using the business approved delegation of authorities. In case an approved delegation and authorities document is not in place, Udexx will assist the client to create and approve said document.

Custom Reports required by the Customer – no additional costs to deploy.

Included in the month-end processes – Udexx include a formal review for the business audit and tax readiness. Reports and advice are provided to clients to initiate any corrective actions.

Additional software functionality is activated to extract data from the accounting solution in formats required by the IRS and the Auditors for purposes of audit and tax readiness, and to also assist with time savings in the preparation of Annual Financial Statements and Tax return submission.

Clients gain access to a CFO Advisory chat line about their specific industry and business, and related business processes.

The Udexx Customer Success Support desk is available for all “automated platform” clients. The accounting solution has a 24/7 support desk. This 24/7 support desk is augmented with a Hot Desk support – Monday to Friday from 07:00 am to 6:00 pm CDT – using a Teamwork Support Ticket system.

Apart from the 24/7 support desk, the Hot Desk ticketing system during business hours Monday to Friday – clients also have access to a support chat line (mainly for “How to questions”) during the same Hot Desk business hours.