On Leapfin Platform, Financial Records are pieces of data representing operational activities that bear finance and accounting impacts in an organization. Common types of financial records are invoices, payments, refunds, disputes, payouts, credits, etc.
Financial Records are NOT independent. Instead, they form rather complex relationships. For example, an invoice record contains multiple line-item records. Each line-item record may be associated with a tax record. When the invoice is paid, a payment record is created for that particular invoice record. The payment record may be later refunded as a refund or credit record.
The relationships among financial records are called Links on Leapfin Platform. Knowing the Links are critical to correctly derive the financial impacts. For example, when a refund is issued, we must know which invoice and line-item it is issued for in order to properly adjust the revenue recognition schedule for that line-item.
The combination of Financial Records and their Links forms a visual representation of the transaction trail (or in general, an operation trail). Such visual presentation is named Financial Record Graph (or "Graph" for short) by Leapfin.
Graph is viewed as the unit of data on Leapfin Platform. Data from various sources are transformed into hundreds of millions of Graphs. Some may simply contain a couple of records and links. Some may consist of hundreds of records. Regardless, the Graph is flexible enough to represent any specific transaction trail.
Updated about 2 months ago