In general, it is advisable that each entity only has one Reportance file. You are able to create more than one dataset in each file (i.e. a dataset for 2019, 2020, Mid-Year 2021, budget 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.
Each Reportance file has several steps in the process:
Step 1: Create and Import a Dataset (Datasets screen)
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:
Step 2: Allocate client accounts to the Reportance chart of accounts (Accounts screen)
Importing data from Sources (MYOB, Xero, Excel etc) into an entity creates accounts in the system. These accounts need to be mapped into their reporting categories. This is a mostly automated process and only requires a little tweaking.
Listed here are the articles on Accounts:
Step 3: Connect to and complete workpapers (Workpapers screen)
Reportance connects to the Business Fitness Smart Workpapers Suite. The workpapers at their core import data from Reportance and allow auto-completion of reconciliation fields and form the base for compiling compliance jobs.
To find out more about Smart workpapers see the knowledge article on Workpapers Getting Started User Guide.
Step 4: Complete asset reporting (Assets screen)
The assets module is a complete asset management solution, providing features such as both accounting and taxation depreciation, pooling, disposal of asset calculations etc. In addition, it integrates with the reporting module to complement the financial reports.
Listed here are the articles on Assets
Step 5: Preparing reports (Reports screen)
The reporting module is the output of all the other modules. It is a feature-rich reporting set which provides full financial reports and includes customisable notes and accounting policies. Reports can be printed by division and can also include trading accounts.
Listed here are the articles on Reporting:
Next article: New Datasets and the Information Tab