FinancialForce Overview & Magento 2 Integration

Move your accounting from spreadsheets to modern, powerful, and user-friendly software. Potent and elegant, FinancialForce lets you dramatically reduce the time necessary for your daily financial duties. This accounting software automates numerous processes, offers real-time financial reports, and provides precise forecasts. The platform is not only easy to learn and maintain, but it is also very straightforward to connect to if you follow our Magento 2 FinancialForce integration guide provided in this article.

FinancialForce Overview

FinancialForce is the best of class accounting solution that offers lots of unique features as well as standard tools required by every e-commerce business. The Financial Management application provided by the platform is designed to accommodate the most diverse and complex financial needs. As a Magento 2 merchant, you can leverage such benefits as a single ledger design combined with a multidimensional chart of accounts. Get real-time business intelligence and reduce an average period of close cycles. Streamline an intuitive general ledger module, accounts payable/receivable, fixed assets, reports, and cash management with the Magento 2 FinancialForce integration.

Features

• Advanced Reporting. The Magento 2 FinancialForce integration lets you dive deep into the world of reporting. The accounting platform offers more than just a financial statement. As a business owner, you get access to real-time financial analysis and modeling, which provides you with precise forecasts and more informed decision-making. You also get a day-to-day operational recording and trackable KPIs. Another important thing is that you can get access to all the precise data anywhere, anytime. FinancialForce lets you monitor all critical information right on your smartphone. Also, note that reports can be customized and filtered to meet your specific business needs. At the same time, the platform offers dozens of pre-made financial statement templates.
• Powerful General Ledger. The Magento 2 FinancialForce integration also provides you with a flexible general ledger which is designed to streamline most tedious daily duties and at the same time, handle the most demanding requirements. Thus, you get the ability to leverage automated reversing of entries as well as recurring journal entries. Its multi-dimension nature provides the excellent flexibility of the general ledger. Besides, it supports multiple currencies and transactions from different companies. Thus, you get and inter-company journal designed to transfer costs between international business units. And due to customizable templates, you can quickly allocate expenses within a few clicks.
• Flexible Consolidations. The Magento 2 FinancialForce integration can combine all departments and business units of both a straightforward enterprise and a giant omnichannel market player. As a result, you can measure the financial health of your company across its entire structure. Furthermore, the accounting platform lets you handle transactions, reporting, and reconciliations from multiple companies in multiple currencies in a single place. FinancialForce is your essential tool for performing intercompany operations, reconciliations, and data consolidations.
• Advanced Receivables & Collections. The Magento 2 FinancialForce integration dramatically optimizes your cash flow using the same accurate and organized workflow as Salesforce CRM. First of all, you get the advanced invoicing functionality. Not only your invoices are customizable, but you can post the to Account Receivable in a matter of a few clicks. Secondly, it is possible to view your customer’s credit standing. At the same time, you can see targeted collection tasks with no efforts. The same location displays all sales activities and calculates due dates and settlement discounts automatically.
  
• Payables & Settlement Control. Another important feature of the Magento 2 FinancialForce integration is the ability to automate account payable processes. The accounting platform provides various rules that can be applied following your unique workflow. As a result, you can capitalize on contract terms and discounts, prevent delayed payments, and leverage requisitioning, purchase order, and invoice matching capabilities.
• Fixed Assets Management. With the Magento 2 FinancialForce integration, you will also take control over your fix assets, knowing the exact price of each one. The system provides the ability to keep tabs on the entire lifecycle so that you control assets from procurement to disposal. Create custom schedules, track assets deployment, maintain the warranty, use advanced asset history.
• Cash Management. Cash flow monitoring across multiple bank accounts is another benefit of the Magento 2 FinancialForce integration. With this accounting system, your cash balance is always accurate, up to date, and ready for automated reconciliation. You can also leverage forecasts and access all the related information from any devices.
• Customer-friendly Platform. FinancialForce is excellent not only for merchants but also for their customers. With the Magento 2 FinancialForce integration, you allow your store visitors to track their account balances, activity, and payments. At the same time, buyers can view and print their invoices and billing history. Of course, making cash and credit card payments is also simplified with the platform. And there is an opportunity to collaborate using a built-in social tool.
  
  

ProductsDUCTS

• Services Automation. The Magento 2 FinancialForce integration lets you gain visibility into your business across multiple components: sales, services, and finance. The platform provides the ability to keep projects on time, make customers happy, and get reports up to date.
• Financial Management. It is the accounting tool provided by the platform. Use it to streamline, simplify, and automate your financial operations. Leverage a flexible general ledger, automated billing, and top-notch intelligence.
• Subscription & Usage Billing. FinancialForce lets you leverage the most complex customer relationships in one solution. Centralize and manage them, creating a single source of business truth. Improve the accuracy of related processes and boost their efficiency with the best subscription billing software designed by Salesforce.
• Revenue Recognition & Forecasting. The Magento 2 FinancialForce integration provides the ability to centralize revenue streams in a single solution to automate calculations and reduce your period-end close. As a result, you can gain a complete picture of your revenue and streamline forecasts.
• Analytics Powered by Einstein. Salesforce Einstein powers the embedded analytics and reporting solution of FinancialForce, which enables a more predictable, efficient business workflow as well as exceeds customer expectations.

Note that you can connect all FinancialForce products to Magento 2 using the tool described below.

Pricing

FinancialForce has a complex pricing structure which depends on the product you use and its configuration. Some offers start at %35 per month. For further information, follow this link: FinancialForce Pricing.

Magento 2 FinancialForce Integration

Unfortunately, you cannot use the default tools to connect Magento 2 to FinancialForce , but there is a solution that enables seamless integration. Meet the Improved Import & Export Magento 2 extension – a universal tool that allows numerous Magento 2 integrations with external systems and other Magento 2 websites. The module is designed to help you connect your Magento 2 website to FinancialForce in a matter of minutes. And you can achieve this goal without a single line of code! It is only necessary to install the extension on your e-commerce website and let is automate data transfers between Magento 2 and FinancialForce . Improved Import & Export creates a bridge between the two platforms based on API connections.

Features

The Improved Import & Export extension lets you leverage the following enhancements to run the Magento 2 FinancialForce integration seamlessly:

• Automated invoices and revenue tracking;
• Data synchronization for:
  • Payment methods;
  • Tax methods;
  • Magento entities (all product types, orders, customers, and invoices);
  • FinancialForce entities;
• Synchronization history;
• Attributes mapping to improve the accuracy of Magento 2 data in FinancialForce ;
• Automate data transfers via schedules or triggers.
• Support for multiple stores;
• Support for various currencies.

Let’s explore several use cases to illustrate the functionality of the plugin from the perspective of the Magento 2 FinancialForce integration. Note that if FinancialForce does not support some of the following entities, you can still leverage the described processes for integration with other systems.

Product Data

When you add a new product or update an existing one, the Improved Import & Export Magento 2 extension transfers all the corresponding data to FinancialForce updating the accounting platform.

Order Data and Invoices

When a customer places an order on your Magento 2 website, and it is paid successfully, an invoice is created in FinancialForce . Associated products and payments can be created as well.

Customer Data

When a new customer registers on your Magento 2 storefront, Improved Import & Export sends the corresponding data to FinancialForce . When a registered customer applies changes to his/her existing account, the module transfers the data to the accounting platform.

Income Tracking

Income tracking is another opportunity related to the Magento 2 FinancialForce integration based on Improved Import & Export. Our extension can quickly transfer income data from your e-commerce website to FinancialForce and back.

Payment Methods Mapping

Another opportunity related to the Magento 2 FinancialForce integration is related to payment methods mapping. To enable free data transfers between the platforms, you can map them within a few clicks.

Tax Rates Mapping

The same is about tax rates: the Improved Import & Export module provides the ability to map tax rates used in Magento 2 to FinancialForce , ensuring that tax calculations are correct.

Other Use Cases

The Magento 2 FinancialForce integration based on the Improved Import & Export extension provides the ability to:

• choose what entities to move between the platforms: products, orders, customers, invoices, etc;
• use schedules or events to enable automated data transfers;
• synchronize the two systems by mapping Magento 2 attributes to ones used in FinancialForce .

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FinancialForce API

FinancialForce provides programmatic access to your organization’s information via API. But you should be familiar with software development and the FinancialForce user interface to leverage this approach. The FinancialForce API leverages the SOAP standard and the related development environments. You can find the complete documentation here: FinancialForce API.

And there is no limit to what you can do with the Improved Import & Export extension and the Magento 2 FinancialForce integration. Although the module uses the REST API to connect your e-commerce website to external systems, it also leverages SOAP if necessary. To enable the Magento 2 FinancialForce integration, the module creates multiple API connections, exchanging all entities between the two systems.

Improved Import & Export Magento 2 Extension Features

We’ve already explored the accounting platform as well as some essential nuances of the Magento 2 FinancialForce integration. Therefore, let’s take a look at the Improved Import & Export features that simplify the data synchronization between the two systems. Since our extension completely revamps the default import and export functionality of the platform, you get an absolutely new way of data transfers, which helps you avoid many issues associated with the built-in tools.

The default instruments don’t let you do the following things:

• Establish API connections;
• Automate data transfers;
• Map attributes;
• Import/export all entities.

As a result, it is necessary to repeat numerous processes every time a data transfer between Magento 2 and FinancialForce is required. Usually, you have to recreate changes applied to your e-commerce store in an accounting system manually. Since the integration requires multiple updates per day, it turns into a waste of time. But we offer a more reliable solution.

The Improved Import & Export extension allows transferring all information from Magento 2 to FinancialForce and back. Note that all processes are automated: relax while the plugin transfers data, matches different external attributes and their values from one system to another, leverages multiple API connections in the integration working with all entities. The Magento 2 FinancialForce integration becomes a breeze with our module.

Automated Import & Export

The FinancialForce Magento 2 integration is a continuous process that requires advanced automation. And Improved Import & Export provides the ability to avoid daily duties related to data transfers via schedules and event-based triggers, which entirely automate them.

Schedules

Schedules represent the most intuitive and straightforward way of automation in different data transfers, including the Magento 2 FinancialForce integration. The flow of information between the two systems is based on cron. You specify a time interval and the extension imports/exports updates according to it letting you create fully independent import and export jobs with several different options:

• custom intervals,
• customizable, predefined update schemes,
• profiles with no schedules (which are suitable for maintaining such tasks as migration to Magento 2),
• and asynchronous data transfers (launch every scheduled profile manually whenever you want).

Events

Event-based triggers are another huge improvement provided by the Improved Import & Export extension. They introduce a more flexible approach to the Magento 2 FinancialForce integration exchanging data in real time. Use the following algorithm to automate data transfers between the two systems:

1. Create a trigger;
2. Connect it to an event;
3. Link an action to a trigger to launch it automatically.

Thus, transferring data to FinancialForce with the help of a trigger dramatically simplifies the integration. When something happens in Magento 2, the plugin transfers the corresponding data to the accounting platform.

For instance, a customer creates an account on your website; the extension rapidly provides the corresponding data to FinancialForce . The Magento 2 FinancialForce Integration Add-On for Improved Import & Export will help you forget about creating similar schemes manually! Follow the link below for more information regarding triggers: How to Run Magento 2 Import or Export After Specific System Event or Process.

Advanced Mapping Features

Map FinancialForce attributes to ones used in Magento 2 and vice versa to enable automated data transfers between the two systems. The Improved Import & Export Magento 2 extension radically simplifies the FinancialForce Magento 2 integration in terms of attributes and their values with the help of the following features:

Mapping Presets

Use our module to solve the problem of different attribute standards without headaches and enable the Magento 2 FinancialForce integration in the most intuitive way with mapping presets – predefined mapping schemes that eliminate manual attributes matching.

You no longer need to look for unsupported attributes and fix them. Our extension performs all the necessary improvements automatically. It analyzes the input data file transferred from FinancialForce , discovers third-party attributes, and matches them to the ones used in Magento. As for export processes, Magento 2 FinancialForce Integration Add-One for Improved Import & Export knows what attributes are required by the accounting system and modifies ones utilized in Magento according to the rules of the external platform. You only need to select a matching scheme suitable for your migration:

Matching Interface

Importing/exporting data between FinancialForce and Magento 2 can also be based on manual attributes mapping right in the Magento admin! The Improved Import & Export module provides a unique matching interface which offers full control over the process: you specify external (internal) attributes and link them to the corresponding internal (external) ones in a particular grid enabling the data transfer. Here is how everything works:

Attribute Values Mapping

The Improved Import & Export Magento 2 extension offers a separate interface for attribute values mapping that provides the ability to simplify the Magento 2 FinancialForce synchronization and automate it entirely. With our plugin, third-party designations will no longer interrupt transfers from FinancialForce to Magento 2 since you can choose an external value and specify its replacement. Repeat the procedure until all third-party designations are mapped to ones utilized in Magento 2. Note that the created schemes are saved and applied for further updates. For more details, read this article: Attribute Values Mapping.

Attribute Values Editing

If attribute values mapping is not enough, you can rely on attribute values editing. Transferring data from FinancialForce or other systems to Magento 2 can be automated with the ability to modify attribute values in bulk. Use the following rules:

• Add a prefix to multiple attribute values;
• Add a suffix to numerous attribute values;
• Split various attribute values;
• Merge many attribute values.

Note that you can combine them and create conditions increasing the efficiency of the applied changes. You can find more information in this article: How to Modify Attribute Values During Import and Export in Magento 2.

Category Mapping

You won’t use category mapping in the Magento 2 FinancialForce integration. However, it dramatically simplifies other connection. You can match external categories to ones used internally reducing the number of difficulties that usually occur when products are transferred from other platforms to Magento 2. The Improved Import & Export module allows mapping external product categories to ones used in your catalog as follows:

To create new categories right in the import job, choose a parent category, and specify a new one that will be generated automatically. Thus, the extension will link products to it during the import process. If your Magento 2 website doesn’t include a category from an imported file, it’s no longer a problem. You can find more information about this feature here: Category Mapping.

Attributes On The Fly

And if a data file provided from an external system lacks attributes, the Improved Import & Export Magento 2 extension lets you create them on the fly via the following general form:

Attribute|attribute_property_name:attribute_property_value|…

The feature is described here in more detail: Product attributes import.

Extended Connectivity Options

The fundamental aspect of the Improved Import & Export Magento 2 extension that enables the Magento 2 FinancialForce integration, as well as multiple other connections, is support for additional connectivity options. Designed to improve all data transfers and make the seamless Magento 2 FinancialForce integration possible, they include numerous file formats and two alternative ways of transferring data between your e-commerce store and external systems. As for FinancialForce , the REST API standard is utilized as a first way of the integration.

Multiple File Standards

Although the Magento 2 FinancialForce integration cannot be based on data files, you can leverage them in other integrations. The Improved Import & Export extension supports CSV, XML, JSON, ODS, and Excel as well as unpacks file archives automatically while the default tools work with uncompressed CSV files only!

Multiple File Sources

The following file sources can be leveraged to import and export data files between Magento 2 and external systems:

• FTP/SFTP. Transfer data files using a local or remote server.
• Dropbox. Use a Dropbox account to establish a connection between the two systems. Alternatively, you can rely on Box, OneDrive, Google Drive, iCloud, and Amazon Drive.
• URL. A direct URL can be used to import a data file as well.

Alternative Ways of Import & Export

Note that the alternative ways of import and export are not represented in Magento 2 by default. However, direct API connections are the only way to enable the Magento 2 FinancialForce integration.

As we’ve mentioned above, the Improved Import & Export extension provides the ability to leverage REST for the Magento 2 FinancialForce synchronization as well as other APIs if necessary. For instance, our module also works with SOAP (which is deprecated in the case of FinancialForce ) and GraphQL.

Note that all API connections support other extension’s features so that you can leverage mapping, schedules, and attributes on the fly while transferring data from Magento 2 to FinancialForce via REST API.

As for the intermediary services, you can rely on Google Sheets, Office 365 Excel, and Zoho Sheettransferring data to your e-commerce store. Although it is impossible to utilize them for the Magento 2 FinancialForce integration, other connections can be established with the help of various online sheets. The following image shows how to use Google Sheets to move data to Magento 2:

The video below displays other details of our extension:

Final Words

Designed for midsize businesses and market giants, FinancialForce goes far beyond standard accounting software. The platform offers lots of business automation tools, ERP instruments, and finance control solutions. You can easily integrate all these and other systems with your e-commerce website using Improved Import & Export. For further information about the Magento 2 FinancialForce integration, follow the link below:

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