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/
LucaLabs goal was to transform an MVP platform into a fully-featured product by adding the following features:
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.
Database query optimization and optimization of a probability algorithm for finding the most likely option.
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: