Powerful Cloud based Accounting Software for Mid-Sized Businesses including Multiple Company Consolidation. Extended Business Analysis and Reporting

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Camilla Cannon
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1 Powerful Cloud based Accounting Software for Mid-Sized Businesses including Multiple Company Consolidation. Extended Business Analysis and Reporting

2 Extended Business Analysis is how accountsiq allows you to monitor and report on your business activities. It enables you to look at the performance of your Enterprise in many different ways apart from just Company-Wide Profit and Loss, Sales and Balance Sheet Reporting. It is an extremely powerful tool that will enable you to report any statistic required, set-up unique Key Performance Indicators and capture all the required data. In fact, as long as the data is captured, accountsiq can report on it. For example, if your Company has a number of Locations, you might want to know how each Location is doing and, if you have different Customer Categories such as Retailers, Wholesalers, and Internet Resellers etc. how each of them is performing. The system facilitates such extended analysis by setting up each Location, each Customer Category, and so on, in separate tables (up to 6) called Analysis Groups and allocating Codes to each in a manner similar to the way Codes are allocated to General Ledger Revenue and Expense heads. We call the former Analysis Group Codes and the latter GL Codes. Many older and indeed many contemporary General Ledger Systems combine this Analysis Group Coding (sometimes called Cost Centre or Profit Centre coding) with the GL Coding (Revenue, Expenses, Assets, etc.) together into one single combination code such as Branch- Department-Expense Code for example. This is an overhang from, and was a consequence of, pre-database file architecture Record Management Systems (RMS). However, this combined code approach places significant limitations on the subsequent analysis which can be achieved - and on the extraction of data for reporting purposes. It can also be the cause of excessive General Ledger Master records being created - since every GL Code must now be combined with every Branch and every Department within every Branch as part of the setup of the GL Accounts Code Table. This System, exploiting modern Relational Database architecture to the fullest possible extent, separates the construction of the Business Analysis coding structure away from the General Ledger Expense coding and only combines the two as required when Transaction Entry takes place and requires these codes to be entered. Thus, the GL Revenue & Expense Codes exist in only one instance while the Analysis Group Code structure and its hierarchy can be maintained separately (and indeed changed subsequently or extended later on) without reference to the GL Codes. Analysis Groups and Analysis Group Codes The way we do this is in the system is to facilitate the set-up of Analysis Groups (of which you can have to 6), each of which can have any number of members or elements defined within them.

It is an extremely powerful tool that will enable you to report any statistic required, set-up unique Key Performance Indicators and capture all the required data.

3 These members or elements are known as the Analysis Group Codes ; For example, if we set up an Analysis Group called Location then it is possible to nominate all your business Locations, Offices or Shops (codes) as the components (i.e. elements ) of that Analysis Group and allocate an Analysis Group Code to each element. Another Analysis Group might be set up as Customer Category (meaning, for example, Retailer, Wholesaler, Distributor, Domestic, Industrial, etc.). And, so on. At Transaction entry stage it would be very tedious and very time consuming to have to enter every relevant Analysis Code (i.e. every member or element) of every Analysis Group related to each Transaction - or even each individual line of each Transaction. This is where Analysis Codes (not to be confused with Analysis Group Codes) come into play. The System facilitates the set-up of individual Analysis Codes which can then be associated with or attached to one Analysis Group Code (member of element) of each of the Analysis Groups which we have created. Here s an example as below:

Another Analysis Group might be set up as Customer Category (meaning, for example, Retailer, Wholesaler, Distributor, Domestic, Industrial, etc.). And, so on.

4 When you quote an Analysis Code during Transaction data entry, its relationships to the elements of each Analysis Group to which that Analysis Code has been attached are inherited from the Group structures and carried on into the resulting Transaction Database Posting. Thus every transaction not only carries the GL Expense/Revenue Code and the Analysis Code, but also the six individual Analysis Group Codes - all of which are individual database access keys. For reporting purposes, any one or, any combination of these 8 separate access keys can be used to build the required reports or queries. In the example above, you might want to enquire or report on the performance of all Sales to Retail Type Customers in the Northern Branch or all Internet Customers by Product Category. Thus, as the Sales Transactions and Purchase Transactions, etc., are entered into the system as part of the day to day operation of the system, the only required codes for Extended Business Analysis are the Analysis Codes and the Revenue/Expense Codes many of whom will, in any event, be presented as inherited default codes from Master Data Records, which of course, can be over-ridden as required. Similarly, when Budget data is entered at the GL Code and the Analysis Code level, such data will be posted to the Database and presented, when requested, for enquiry and reporting purposes against the Actual data. Reports There are over 200 pre-written reports within the system for you to use. However, we can also create customised reports for you to run. We can also issue report packs (for management reports) that can be released against the whole group or an individual entity. Indeed, should your organisation have an employee proficient in Microsoft Reporting Services, we can also give you the ability to create your own customised reports. Dashboards The accountsiq dashboards are completely customisable and indeed we can even give you the ability to create your own dashboards should you wish. You can have as many dashboards as you wish and you also have the control to grant or restrict access to every single dashboard based on user profile. Additionally you can also create any number of Key Performance Indicators to assess how your business is reporting and show these on an interactive dashboard. All dashboards and reported statistics can be drilled into, down to transaction level. Dashboards can also be used to drive workflow whereby you can have a dashboard that will show unallocated transactions or unapproved invoices/payments.

Thus every transaction not only carries the GL Expense/Revenue Code and the Analysis Code, but also the six individual Analysis Group Codes - all of which are individual database access keys.

5 Some example dashboards are:

7 For more information please visit: or contact: Andy McKeown UK Business Development Manager

How do I Implement Extended Business Analysis?

How do I Implement Extended Business Analysis? Introduction. Extended Business Analysis allows you to look at the performance of your Enterprise in many different ways apart from just Company Wide Profit