It is hard to get good insights if your data is fragmented. Manually exporting data and merging them with Excel spreadsheets takes time and with risk of errors. Liquid connects with your current accounting software, and other tools, to bring all your data together in a single location.
RGS, also known as Reference Ledger Schedule (Dutch: Referentie Grootboekschema), is a standard taxonomy for properly categorizing ledger accounts (for turnover and costs, for example). This means that companies that are RGS-ready can immediately use all reports and functionalities in Liquid, without additional configuration.
RGS (Reference Ledger Schedule (Dutch: Referentie Grootboekschema)) is a Dutch standard for structuring accounting data. It is a taxonomy to organize all ledger accounts (“categories” that contain your transactions) within an administration. This is done by assigning an RGS code to each ledger account so that other software, like Liquid, knows what is in the ledger account (e.g. “turnover” or “costs”).
In Liquid, we use RGS to put all the ledger accounts (“categories”) in your accounts in the right place. For example, it helps us understand that a certain ledger may be about company costs, and even which company costs specifically. This way, we always generate correct Profit & Loss, Cash Flow and Balance Sheet Reports and Forecasts.
If you want to link your own accounting data to Liquid, your ledger accounts must be provided with an RGS mapping. If this is not provided by your bookkeeping software, it is also possible to assign an RGS mapping directly (one-time) to the ledger accounts in your administration in Liquid.
