Validis Classic - the original accounts review solution

Validis Classic is the original accounts review solution: a secure web-based service that streamlines the validation and analysis of data sourced directly from a business's accounting software, providing instant, in-depth insight into its financial performance and the reliability of the underlying accounting records.

Validis Classic is exceptionally easy to use, quick to deploy and highly secure. It automatically copies the entire nominal, sales and purchase ledgers from the user's accounting application, analyses every transaction and balance for potential anomalies or issues, produces comparative performance analyses of the P&L and balance sheet, and presents the results within an intuitive interface.

Validis complements existing accounting, accounts preparation and audit management systems and is readily incorporated into business and practice working routines.

Features

No complex configuration - just logon and go! In a click, locate, encrypt and upload the entire nominal, sales and purchase ledgers and the chart of accounts held within the source accounting application, set materiality levels and date ranges to be reviewed and go!
Instantly view and compare all key financial data and ratios Compare P&L, balance sheet and key ratios between any time periods defined by the user.
Identify irregular or exceptional activity Instantly identify potential issues, anomalies or mispostings, for example:
- Check every transaction and balance to ensure correct posting
  e.g. Do nominal account balances close in the correct position and are transactions entered in the correct nominal account?
- Identify significant changes in account activity that fall outside month-to-month trends
  e.g. an exceptional increase or decrease in bank account transactions or a sharp increase in entertainment expenses.
- Identify inconsistencies and abnormally high transactions against materiality levels that the user defines
  e.g. an expensed capital item within a general maintenance account.
- Identify transactions with unusual field entries
  e.g. a depreciation charge that has a VAT-bearing tax code.
Download results and reports to Excel for off-line review Results are presented in a clear, concise format that can be readily downloaded for review in Excel or integration with other practice or business-generated reports.

Benefits

Validis Classic achieves in seconds what previously would have taken hours or even days. By breaking the historic relationship between review cost and accuracy, Validis frees users to increase their productivity and value of activities such as:

Accounts preparation
- Increase productivity - Complete thorough reviews in a fraction of the time required by existing manual processes; avoid wasted effort by ensuring potential errors and mispostings are identified and addressed early in the process. Also for practitioners: reduce the time spent assembling and managing client input data across disparate accounting applications.
- Enhance service - Release resource from low-value data validation to focus on high-value interpretation and advice, increase reliability of output and increase fraud detection capability.
- Reduce risk - Extend validation checks to all transactions.
Audit
- Increase job recovery rates - Quickly assess audit risk, plan the work, accurately set engagement fees and maximise staff productivity - ensuring the audit is effectively focused on areas of need and reducing time required on-site.
- Build competitive advantage by providing an enhanced service - Reduce engagement time, budget over-runs, and on-site investigation thereby increasing client satisfaction.
Bookkeeping administration Increase reliability of accounting operations and as a result avoid potentially costly errors or anomalies.
Work more efficiently with external accountants, advisors and lenders Collaborate more quickly and easily with team members and external organisations by sharing information online.