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Reporting - Accounting Policies

Accounting Policies are customised on three levels 

  1. Reportance Master Notes (Managed by Reportance)
  2. Firm Standard Notes (Managed by Firm)
  3. Client Notes (Managed by users for each client)


This section will cover customising client-specific accounting policies/notes. By default, these accounting policies will be prepopulated by the reportance master notes and any of the firm's changes or updates to those notes.


To access the accounting policies for a specific client file, select accounting policies from the file settings menu from any screen, as shown below. This will display all of the notes for that section.




Adding a New Policy

To add a new policy for this client click on + New Policy. This 


The following table details the new policy fields. 

FieldDescriptionValidation
NameThis is the name of the policy which will appear in the financial report.Required - String
Location (Dropdown box)Sets which section the note appears within the Notes.
General or Note 1
DescriptionThis is an internal description that provides users with the gist of the note.
String
Show by Default (Dropdown box)Sets the default display of the note.
Options:
- If related account appears
- Always
- Never
Default When any of the following Account Types Appear
Sets the account which the above field looks for to display the NoteSearch Field. Required when "If related account appears" is selected above. More than one account can be selected.


After the basics of the policy have been completed select Add Policy.
An example is shown below.


After clicking save on the accounting policy the policy variant section will be displayed. From here you can add different variants for different Policy Suites and different Entity Types. 


Field DescriptionValidation
NameName of Policy Variant. Normally this would be a defining attribute. I.e. SPFR-AASB Company.  
Required - Text
DescriptionThis is an internal description that provides users with the gist of the note.Text
Policy Suites (Dropdown box)Selects which Policy Suite the variant will belong too.Default - Applies to all policies
Entity Types (Dropdown box)Selects which entity to display the policy variant for. More than one entity can be selected
Default - Applies to all entities
Default (Checkbox)This is an internal description that provides users with the gist of the note
Checked / unchecked
Content*This is the content of the note itself. I.e. what will be displayed in the report. 
Text


After completing all the required fields select Save. This will save the policy variant into the system. It is possible to add many policy variants to each note, however, we recommend adding as few as possible.

One feature which allows you to use a note for multiple entity types if fields and conditional if statements. 


*Content can also use fields to import information about the client or your firm. To find out more about fields within report see the knowledge article Reporting - Fields



Editing an Existing Custom Policy

To edit an existing policy click on the policy.

Make any required changes to the policy. The same fields are available for edit as those available under the Adding a New Policy section. 
Once all the required changes have been made click on Save Policy.



Editing a Master Policy

A master policy is unable to be edited outright. However, you can perform a customisation process on the note. 

Essentially this creates a new variant of the whole policy. The benefit of this process is that if the standards update and Reportance updates the default policy you can revert or merge any changes to the customisations a user has made in the accounting policy. 


To customise a master policy select customise from the bottom of the screen as shown below. 

The following fields will now be able to be edited:

FieldDescriptionValidation
NameThis is the name of the policy which will appear in the financial report.Required - String
DescriptionThis is an internal description that provides users with the gist of the note.
String
Show by Default (Dropdown box)Sets the default display of the note.
Options:
- If related account appears
- Always
- Never
Default When any of the following Account Types Appear
Sets the account which the above field looks for to display the NoteSearch Field. Required when "If related account appears" is selected above. More than one account can be selected.


In addition to these fields, a user can also add a custom policy variant of edit the existing variant. 
To add a new variant select + Policy Variant. The fields and creation process is the same as detailed in adding a new policy section. 


To customise an existing master policy variant select the customise button in the lower-left corner as shown below. 



After saving the new customised policy the following comparison will be shown.



To delete the customised version and revert to the original master select Delete Customised Version

To maintain the current customised version select Save.

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