The Accounts screen is how you configure your client's various chart of accounts into the Reportance Master Chart, provide custom Header Accounts for reporting purposes and alter individual Accounts.
On the right-hand side of the screen is a list of accounts that have not been allocated into the Master Chart.
Understanding the Master Chart
The Master Chart of Accounts comes with a range of default System Headers which cannot be changed. However, you can add additional layers of grouping to enhance the readability of the accounts. Importantly, in the Reporting section, you will also have options to hide group details or include them in the Notes, making them a powerful way of managing the amount of detail displayed and giving you the ability to customise a given report.
To add a Custom Header, select an existing Account Header under which you wish to create the new Custom Header, and click on the ellipsis to the right. This will bring up a menu allowing you to choose Add Custom Header.
A Custom Header is distinguished from a System Header (one of the default Headers provided by Reportance) by the fact that it has the drag and drop symbol A Custom Header can be relocated to another Header account by dragging and dropping the header. You can also rename or delete the Custom Header at any point by clicking on the ellipsis to the right of the header.
In the image below, the 'Cash and Cash Equivalents' account is a System Header, while the 'Bank Accounts' account is a Custom Header.
Allocating Unallocated Accounts
There are four ways to allocate accounts:
1. Auto Allocate: Uses a set of system-defined rules to automatically allocate the accounts. To auto allocate accounts using the firm default matching rules select Auto Allocate as shown below.
Note: These rules can be defined globally by the Administrator and/or on a per entity basis (see the section on 'Editing Auto Allocate Matching Rules' below).
2. Drag and Drop: Allows a user to select the unallocated account on the right and drag it into place of the left-hand side of the screen.
When dragging an account, the placeholder can show one of two placeholders:
i. A grey Insert here line: This will reposition the account to the location of the insert line.
ii. A blue border of an existing account: This will result in Reportance combining the two accounts and treating them as one. This can always be undone by clicking the Edit icon and selecting the unlink icon of the relevant account.
Accounts that have been moved using the drag and drop method are marked as 'Manual'. Therefore, they will be excluded from any future auto allocations, this ensures that the accounts are not constantly changing.
3. Right Click > Insert: Click on the unallocated account/s on the right-hand side (to select multiple accounts use the shift and ctrl key options) so they are highlighted in pink. Then right-click the relevant area on the left-hand side and insert the account/s above, below or into a header.
4. Quick Group: Allows you to quickly create a group of accounts under a Custom Header. Click on the unallocated account/s on the right-hand side (to select multiple accounts use the shift and ctrl key options) so they are highlighted in pink. Then right-click on the selected accounts. This will bring up the Quick Group option.
Once Quick Group is clicked you will be taken to a screen that allows you to name the Custom Header that the selected accounts will sit under. You can also select the Classification and Account Type that this group will belong to. By default, the Account Type will be set to 'All Other Expenses'. To override this, change the Mode to the right from 'Inherited' to 'Manual' (see the 'Editing Auto-Allocate Matching Rules' section below for more information on the Mode function).
Note: The 'Drag and Drop', 'Right Click>Insert' and 'Quick Group' methods can also be used to move Accounts and Custom Headers in the Allocated screen to arrange the Master Chart of Accounts to your preference. Once customised, the Master Chart will remain static for future years unless edited.
On the Allocated screen, you can select the ellipses or edit icon against any row to do the following:
|Action||Description||System Header||Custom Header||Account|
|Add Header||Adds a Custom Header underneath the chosen header account.|
|Sort by Account Name||Sorts all accounts and headers immediately underneath the chosen header by Account Name.|
|Sort by Account Number||Sorts all accounts and headers immediately underneath the chosen header by Account Number.|
|Delete Header||Allows you to delete the header.|
|Edit Account*||Allows you to edit the details for this account, including the account number and name as shown in Reportance (for further details see below).|
*Edit Account Options:
|Account No||This is imported from the Source. If it is a manually created account it should be a unique value. |
|Account Name||This is imported from the Source. If it is a manually created account it should be a unique value.||Required|
|The standard classification of the account. This is for presentation and easily finding accounts. It does not impact on financial reporting.|
|Represents the System Header from the Master Chart which the account is allocated to. |
|This is the default division that the account is assigned to. This is useful for reporting on different offices and locations. To learn more about divisions see the knowledge article: Accounts - Divisions.|
|Default Trading Account|
|This is the default trading account that the account is assigned to. This is useful for reporting trading profit and loss accounts or livestock trading accounts. To learn more about trading accounts see the knowledge article: Accounts - Trading Accounts. |
|Consolidate (checkbox)||To learn more about consolidations see the knowledge article: Consolidations.|
|Auto Match Mode||Adjust this to control whether auto-match rules should be run on this account (for further information see Editing Auto-Allocate Matching Rules below).||Auto - Auto-match rules will be run on this account|
Manual - Auto-match rules will not be run on the account
|Mode||Adjust this to control whether auto-match rules should be run on this account, or whether it should be inherited from the header account. ||Inherited - The auto-match property will be inherited from the header account |
Manual - Auto-match rules will not be run on the account
Rule - Auto-match rules will be run on this account
Editing Auto-Allocate Matching Rules
The Auto-Allocate Accounts feature uses a series of 'rules', called matching rules, which will allocate accounts to a default location. These rules operate very similarly to bank feed matching principles. Included in the Reportance package is a large set of standard rules that should automate most allocations. However, you can edit these rules on both a firm basis and a client basis.
Note: The firm rules can only be edited by an Administrator. To learn more about editing firm rules see the knowledge article: Managing Firm Default Matching Rules.
To edit the Matching Rules for a single client, you can either go to the Accounts screen and select Manage Rules from the drop-down list next to the Auto Allocate button (as shown below) or select Matching Rules from the File Settings menu.
This will take you to a list of rules which exist. From here you can edit existing rules or click on + New Matching Rule to create a new rule.
Note: When running Auto Allocate, rules will be applied from the top down, i.e. the bottom rules will overwrite the allocation of the top rules.
New Matching Rule Options
|Match Type||Options: |
|For the Classification||Ensure that the rule only applies to specific classes of accounts (i.e. Assets)|
|Find||This is the keyword to be matched within the selected Match Type||Any string of text|
|Enables the rule to be applied regardless of the case of the account|
|Search Mode||Creates rules around where to look for the keywords within the match type field (e.g. Anywhere will look for the string anywhere within the Account Name).||Options: |
|Apply to all accounts, including manually set ones (checkbox)||This will ensure any manually created accounts (created through journals) will also be matched.|
|Specifies the header name the account will be linked to.||Options will depend if the user has inserted new headers.|
|Specifies if the account should be added to a sub-account of a header account. Will add the account to the header account if left blank.||Options change depending on the header selected.|
To save the Matching rule click Save Matching Rule. You can also save and run the rule by selecting the Run Rule Now button.
By default, running the Run Rule Now will set the mode of the account allocation to 'Auto'. This means that if you do not move the account after allocation any future auto allocations that may be run will alter the location of this account (this is only relevant where rules have been created). You can change this by selecting 'Manual' from the drop-down menu to the right of the Run Rule Now button.
Below is an example of a matching rule.
Create Instant Rule
This option allows you to create a new rule without navigating away from the current Accounts screen.
Next article: Reporting - Creating a Report