Intacct: Financial Report Wizard – The power of Dimensions

This week I got a chance to dive into Financial Reporting (thanks to an awesome Intacct teacher who’s enthusiasm about Intacct is contagious – she was awesome and inspired this idea!). Before going over to consulting, this was part 1 of a report I used to create in Excel and didn’t get a chance to build in Intacct’s Financial Reporting Wizard (I just didn’t have enough time to dedicate to it and to be honest I didn’t completely understand the Financial Report Wizard – it was sort of intimidating. customer groups, dimension groups, account groups, dimensions?! It was a whole new world!).

A lightbulb went off in my head during her class about how Intacct could partially automate this report. So here goes!

Have you ever wanted to create a report that would show you a snapshot of all your customer right this very second? What if you had a report that would show everything from Customer specific details (like sign up date, user quantity, sales reps, location), Item specific details (items purchased, prices, discount) and then compare month by month revenue? This type of report could be useful to get an overall picture of customer demographic and month over month revenue – what items are they buying? what is the variance month over month? when did they sign up? where are they? is there any correlation? Imagine you have thousands of customers – that’s kind of hard, right?

If you didn’t notice I listed a bunch of dimensions (and attributes) up there! And if you haven’t heard yet, well, dimensions are sort of Intacct’s thing. (Talk about simplifying your Chart of Accounts – and on top of that slicing and dicing your reports however you want!).

Here’s a little sneak peak of what the final report looks like in Intacct:

Screen Shot 2015-04-30 at 9.45.54 PM

Looking at the report you’ll see immediately your customer, Kathy, increased revenue month over month by $50 compare to last month. If you look closer, you’ll see it was because she added on a faxing plan in March. Cool, right? Then you could see that the customer, Zabars, doesn’t have faxing or any other add on service, now there’s a great opportunity for an upsell, right? It’s really just a cool report to see all your customers at once and be able to analyze correlations and opportunity for marketing and growth.

So let’s go through the step by step!

Step 1: Report Info

Report Type : Dimensions (we’ll be basing this report on the Customer Dimension and contain the account(s) in the columns.

Screen Shot 2015-04-30 at 10.39.00 PM

Step 2: Rows

We’ll be choosing the Customer dimension group here. (I chose my group titled All Customers).

Screen Shot 2015-04-30 at 10.38.54 PM

Step 3: Columns

We have 7 of them in this report. This step is where all the magic is going to happen!

Screen Shot 2015-04-30 at 10.38.48 PM

Column 1: Starting off easy with just the dimension name (which in our example will be our Customer’s names)

Column 2: Start Date – How on earth do you get information that is tied to a customer record to show up in a financial report?! That’s exactly what my question was! I had thought there was no way this was ever going to happen. Well guess what?! It’s there! Let me show you how to get it out. Under the “Column Type” drop down, choose the Dimension Attribute “Customer”. Then, you’ll notice a new field shows up that gives you a whole list of attributes of that dimension (even custom fields!!!). (If that didn’t blow your mind – then I don’t know what will because this was groundbreaking for me).

Screen Shot 2015-04-30 at 10.19.03 PM Screen Shot 2015-04-30 at 10.19.09 PM

Columns 3 and 4: Contract User Count and Sales Rep are done exactly the same as Column 2!

Column 5: Finally getting to the numbers! This column will be revenue for last month. (Actual, Current Month -1, and Revenue Account Group). We need to expand this column by items since I wanted to know the items our customers are buying each month. What does “expand by” mean? This will take your dimension (Items) and create a new column for each member of that group (individual items) – and you don’t even have to create those columns! Thanks Intacct!

Screen Shot 2015-04-30 at 10.19.39 PM

Column 6: This column is Revenue, Current Month -2 (or the month before last). Not expanded because I just wanted to know the total they paid last month and not what items were purchased.

Column 7: This is a Computational column. I want to know if a customer’s revenue month over month changes (increases or decreases as compared to last month). We’ll choose Summary on Columns, Subtract(6,5). Then, I used some fancy visual indicator (towards the bottom of this column) to highlight in green any customer who’s revenue increased since last month.

Screen Shot 2015-04-30 at 10.22.54 PM

There you have it! Another magical cool little report that gives you a snapshot into your customers.

I think my take away from learning Intacct has been that it’s not always about the tools you have, but how creatively you use them. You could have a fancy software, but if you don’t know how to use all the features, it’s not very useful – it’s just an added expense. Hopefully these posts help you get more out of your Intacct software because it is a really cool software if you know how to use it and really just play around with it – get creative, think outside the box! (And best of all if there’s something you don’t like Intacct takes suggestions and has quarterly releases!) Happy report building outside the box – in the cloud! 🙂

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