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New Datasets and the Information Tab

Datasets - An Overview

The accounting industry is able to work with a myriad of different accounting systems because of the common system of double-entry bookkeeping. Reportance leverages this concept and uses the trial balance as the common language with which to communicate between all different systems.


A Dataset in Reportance is simply a trial balance from a particular accounting file or source for a particular date range. For this reason, when setting up a dataset, we need to know two things:


1) The date range of the trial balance

2) The source of data for the trial balance


Reportance will also ask you to name this trial balance, so you can easily reference this in other areas such as Reporting or Workpapers. We suggest using a naming convention that gives you enough information to uniquely identify the trial balance within a given entity. For example, an entity where you have one accounting file and say a budget, you might name the trial balances something like:


2019 Actual

2020 Budget

2020 Actual

2021 Budget


Another entity might run multiple business divisions or stores through different accounting files, so you might use the following descriptions:


2020 Actual - Melbourne Store

2020 Actual - Sydney Store

2020 Actual - Consolidated (for the consolidation of the two stores)

2021 Budget - Melbourne Store



Creating a New Dataset


To create a new dataset click on Open next to the relevant entity in the Client screen. You will be taken to the entity's file where you can click on the New Dataset button.



The following fields are required to be entered when creating a new dataset: 


FieldDetailValidation
Name
A field which makes identifying the dataset easy. See above for examples.Required
Start DateThe beginning date for the dataset (i.e. trial balance).Required
End DateThe end date for the dataset (i.e. trial balance).Required
Source*The source is where the data are coming from (i.e. MYOB, Xero). To add a new source select the source from the drop-down menu. If no source exists yet follow the knowledge article Datasets - Manage Sources.Required
Reporting Frequency
(only shown after selecting a Source)
This identifies the interval that data are imported into the system. This enables journals and reporting to be done at different intervals.Required
(Annual, Quarterly, Monthly)
Roll over opening balance
(tick box)
This will automatically post opening balance journal entries into a dataset. This is useful when starting a new compliance year. It is not required if using opening balances from the client's live file. 
Opening Balance Dataset
(only shown after selecting a Source)
This is the dataset which opening balance journal entries will be imported from.Required if 'Roll over opening balance' field is ticked

* a source cannot be changed after it has been added to a dataset 


Note: After completing the form it is necessary to click on the Load Data button. This will 'fetch' the data from the source using the dates and import frequency specified. A date will appear in the Load Data button to show that the data have actually been loaded. 



Finally, select Save Dataset


Once a Dataset has been saved more sections become available; Journals, Balances, and Other Info. For information on these topics see the following knowledge articles:

    Datasets - Journals

    Datasets - Balances - Trial Balance

    Datasets - Balances - Ledger

    Datasets - Balances - Tax Forms

    Datasets - Other Info - Distributions (coming soon)

    Datasets - Other Info - Primary Production (coming soon)

 


Editing and Deleting a Dataset


To edit a dataset, navigate to the Datasets area of the entity file and select the dataset to be edited. This will open the dataset at the information tab. The only properties that can be edited are the Name and Import Frequency.  


To delete a dataset, select Delete from the bottom left.


WARNING: Deleting a dataset cannot be undone. Be extremely careful when deleting datasets. 



Next article: Datasets - Manage Sources

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