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Adding an Entity's Reportance File & A Brief Overview

To set up an entity see the knowledge article on Adding/Editing Client Groups & Entities

To add a Reportance file to a new entity select the add button next to the entity's name. 

This will create a new Reportance file for the entity and redirect you to the Reportance File. Initially, this will be an empty file with no data as shown below: 


In general, it is advisable that each entity has only one Reportance file. You are able to create more than one dataset in each file. (I.e. a dataset for 2018, 2019, Mid-Year 2020, 2019 BSA Reporting File, etc). You would usually only have more than one Reportance file per entity where you want to experiment with copies of data or want to arrange an alternative chart of accounts. 

Reportance Files - A brief overview. 

Each Reportance file has several steps in the process. 

Step 1 - Create and Import a Dataset (Datasets)

A dataset is a group of data, at its simplest form a trial balance, imported into the Reportance file. A Dataset can contain all transactions for a certain period and can import monthly, quarterly, yearly data points into the system. This offers a wide range of flexibility when reporting. 

Listed here are the articles on Datasets:

New Datasets & The Information Tab

Datasets - Managing Sources

Datasets - Journals

Datasets - Balances - Trial Balance

Datasets - Balances - Journals

Datasets - Balances - Tax Forms

Step 2 - Allocate client accounts to the Reportance chart of accounts (Accounts)

When a new asset is created/updated it imports accounts into the system. These accounts need to be mapped into their reporting categories. This is done via this screen.
Luckily this is a mostly automated process and only requires a little tweaking.

It is our recommended policy that the firm default chart allocations be reviewed and updated to ensure consistency across the firm.  

Listed here are the articles on Datasets:

Step 3 - Connect to and complete Workpapers (Workpapers)

Reportance connects to the Business Fitness Smart Workpapers. The workpapers at their core import data from Reportance and allow auto-completion of reconciliation fields and the base for compiling compliance jobs. 

To find out more about the Smart workpapers see the knowledge article on Workpapers Getting Started User Guide

Listed here are the articles on Datasets:

Step 4 - Complete asset reporting (Assets)

The assets module is a complete asset management solution, providing features such as both accounting and taxation depreciation, pooling, disposal of asset calculations, automatic journal posting, etc. 

In addition, it integrates with the reporting module to complement the financial reports. 

Listed here are the articles on Datasets:

Step 5 - Preparing Reports (Reports)

The reporting module is the output of all the other modules. It is a feature-rich reporting set which provides full financial reports includes customisable notes and accounting policies. Reports can be printed by division and can also include trading accounts. 

Listed here are the articles on Datasets:

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