Financial workflows require traceable entries
Sarafi and remittance systems may connect customer accounts, cash positions, currency exchange, incoming and outgoing remittances, fees, approvals and statements. Every financial effect should remain traceable to its business transaction.
Questions for system design
- Which currencies, branches and cash locations are controlled?
- How are exchange rates selected, approved and recorded?
- Who creates, approves, pays, receives or rejects a remittance?
- Which identity, document and monitoring fields are required?
- How are linked journal entries and reversals protected?
Regulatory and reporting requirements must be confirmed with the organization’s authorized compliance and legal advisers; software design should not assume them.