Reportance allows a user to use any workflow pattern that they are comfortable with. Generally, this falls into one of two main patterns:
1. Perform changes in Reportance and export in bulk at the end of the job
Here, the basic flow is as follows:
- Import the client accounting file into Reportance at the start of the job
- Make changes by creating journals inside of Reportance
- At the end of the job, export a balancing journal and enter into the client accounting software
- A user may or may not reimport the client accounting file into Reportance after this process to confirm both are identical
In this system, journals are used to perform all changes. Reportance will let you create these journals, and will provide a balancing journal comprising all these changes after the end of the job.
2. Working with the client's live file
Here, the basic flow is as follows:
- Start by importing the client accounting file into Reportance
- Make changes directly in the live client file
- Reimport the client accounting file on a regular basis into Reportance so it reflects changes made.
In this system, journals would only be used in Reportance to perform 'presentation' based changes which the user does not want to be reflected in the client file. For example; The client file may have an account that represents GST Payable, which movies into positive and negative over multiple years. In Reportance you could do a 'presentation' journal to move the balance in one year to an equivalent 'GST Receivable' account, without impacting the client file.
Note: In Reportance, you can create a journal in any Dataset, including Datasets which have no trial balance, which means it is also possible to use the journals as a method of creating an accounting file or trial balance from scratch.
Navigate to and open the relevant Dataset, click on the Journals tab. To create a new journal click + New Journal, as shown below:
When creating and editing journals, the following fields are relevant:
|Journal No.||This is automatically created by Reportance and can be edited. You can use this to identify your journals.||Required|
|Date||The date represents the posting date of the journal. Be careful to ensure that the date entered is inside the dataset date range.||Required|
|Memo||This is for your reference and internal use only. It is a field to enter any additional notes about the journal.|
|Export Journal to Client File (checkbox)||This is to set the status of the journal. If this field is ticked it will be included in the balancing journals. Generally, this is unticked for presentation journals (I.e. Journal only exists to make the reports presentable).||Ticked by default|
|Account No||The account number is the number assigned to the chart. Simply type the account name and/or number and select the appropriate account from the drop-down. You can create a new Account by entering a unique value in this field.|
|Account Name||If you selected an existing account above the Account Name will automatically populate. You can create a new Account by entering a unique value in this field.||Required|
|Class*||If you selected an existing account above the Account class will automatically populate. If you created a new account by entering unique values above give the new account a class in this field.||Required|
(see below for available classes)
|Debit||Amount to be debited in the account||At least one DR is required|
|Credit||Amount to be credited in the account||At least one CR is required|
|Quantity||This is where you can put the number of items for calculations such as Livestock.|
|Division||If you are using divisional reporting this is where you can select the correct division.|
See the knowledge article: Accounts - Divisions for more information.
|Memo||This is for your reference and internal use only. It is a field to enter any additional notes about this individual transaction line. |
A class of an account is used by Reportance to help automatically link accounts to the Master Chart of accounts. The available classes are:
- Cost of Sales
If you need to use more than the five available lines, simply click Add Lines to see additional lines.
HINT: Double clicking on the final debit/credit will auto calculate the amount required to balance the journal.
To post the journal click on Add Journal.
Editing a Journal
Navigate to and open the relevant Dataset, click on the Journals tab and select the relevant journal from the menu. The fields which are editable are the same as when creating a journal. After editing the journal click on Save Journal.
You are also able to copy an existing journal by clicking on the relevant journal from the list and selecting the Copy as New Journal button. This is useful for reoccurring journals or for creating reversing journals by using it in conjunction with the Switch Dr/Cr button.
The status of a journal can change as the job progresses. By default, any imported journals will be marked as 'Imported' and any newly-created journals will have the status 'Pending Export'.
To learn more about updating the journal status and posting journals back to the client file, see the knowledge article: Datasets - Balances - Trial Balance.
The following is a list of statuses for journals:
- Not Exporting
- Pending Export
From anywhere within the Journal section you can right-click to bring up the following menu options:
Note: Exporting via the right-click menu does not update the status of the journal - this needs to be done in the Datasets-Balances section.
Creating Journals from Connected Workpapers
Journals in Reportance can also be created while working within Connected Workpapers.
From within the workpaper, right-click on the account balance you would like to prepare a journal for to bring up the menu options. Select View General Ledger.
A dialogue screen will pop up showing the current ledger items associated with that account. Clicking on the Add Journal button will take you to Reportance where you can prepare the journal in the usual manner.
After clicking Add Journal, return to your workpaper. If you click on the refresh button in the General Ledger screen the new journal will show in the ledger.
Click OK to return to the Index and then click on the Refresh Trial Balance button to update the balances with the new journals.
Next article: Datasets - Balances - Trial Balance