Luca Accounting

Luca Accounting is a web application for small business that automates the invoice transactions between suppliers, customers and bookkeepers. It is the second project we are successfully developing with LucaLabs after LucaLabs Expenses, a mobile application built with Flutter.


Product: web application

The scope of our work: back-end, front-end

Solutions: transforming an MVP into a viable product

Web site: https://www.lucalabs.com/accounting/

 

 

Client Goal:

LucaLabs goal was to transform an MVP platform into a fully-featured product by adding the following features:

  • overview of the company’s expenses and the number of suppliers
  • the overall financial situation of the company
  • registered vouchers
  • VAT and bank accounts overview 
  • payroll module
Main Features

1) Sales:

  • Sending invoices to clients via email, SMS, Vipps, EHF 
  • Receiving and registering invoices from suppliers

 

 

2) Expenses:

  • Company registration by using the Norwegian Register of Business Enterprises (Brønnøysund Register Centre)

 

 

  • Supplier’s registration via the phone number by using the Norwegian online directory service: Opplysningen 1881

 

 

3) Accounting:

  • Accounting record keeping
  • Making payments directly through the largest Norwegian bank; DNB

 

 

4) Bank accounts:

  • Integration of bank cards with bank accountants
  • Reconciliation of bank accounts in automatic and manual modes
  • Formation of accounting and tax reporting, automatic sending of reports to government authorities

 

 

5) Generation of internal reports to monitor the company’s current affairs

 

6) Data import and export to the system

 

7) GDPR compliance

Top Challenge
Challenge:

Reconciliation of bank accounts

Reconciliation of bank accounts is used to ensure that the money leaving a bank account matches the sum that has been spent. Reconciliation guarantees that there isn’t any fraud and that the financial institutions haven’t made any mistakes with your bank account.

The challenge here was to build the architecture for user’s convenience. It was necessary to think over and predict all possible scenarios of prompts to the user. Additionally, the process of reconciliation shouldn’t be overloaded with multiple requests.

How does it work: the system finds the transactions that went through the bank account and all the payments that were in the system. The system builds a probability table and matches the most likely option.

Solution:

Database query optimization and optimization of a probability algorithm for finding the most likely option.

Results:

Our web development team has helped the LucaLabs to upgrade the functionality of their existing  MVP and transform it into a fully-featured online platform which led to the audience growth. 

The number of new companies coming to the platform daily has increased in 4-5 times since we started working with the client.

Since the project is still ongoing, we are planning to implement the following features:

 

  • Expenses refund to employees
  • Automatic reminder of deadlines
  • Payroll accounting
Our process
Timeline:

2017 now

Team:
PM | 1 full-stack developer
Technologies we used
Server-side
MariaDB
MySQL
Rails
Ruby
Sidekiq
Client-side
jQuery
Redis
StimulusJS
Tools (hosting, monitoring etc.)
AWS RDS
Capybara
Cucumber
Heroku
RSpec
Integrations
ElasticSearch
Firebase
MailChimp
Relevant success stories
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Alex, Project Lead

+380 99 759 6995