Insights

Account Count by Type

Description: Lists each account type in the client's chart of accounts and the number of each type that are active. Accounts can often be combined to reduce unneeded granularity in the chart of accounts. Other custom fields are usually a better way to track granular data.

Anomaly by Type

Description: Lists each anomaly type found in the period, and the amount and severity of each.

Chart of Accounts Usage

Description: Lists the total number of accounts in the chart of accounts and the number that were used inside the report period. Accounts that are not getting used recently should be inactivated to prevent clerical errors.

Customer Profile Completeness Score

Description: Generates a score based on completeness of customer profiles inside the ledger software. Complete profiles reduce the chance of error internally, and make fraud harder to commit.

Customer Usage

Description: Lists the total number of active customers in the ledger software and the number that were used inside the report period. Customers that are not getting used should be inactivated to prevent clerical errors.

Last Reconciled Transaction Date

Description: Lists each bank and credit card account as well as the date of the last reconciled transaction in each account and the number of days that have elapsed between that transaction and the end of the report period. A large number of days elapsed can signal that the account has not been reconciled in a long time or is no longer being used.

Transaction by Account Type

Description: Lists the number of transactions in the period by the type of account. This gives sense of which accounts are most interacted with in the period. Knowing which parts of your financial statements have the most transaction activity can help you understand where there may be room for improvement and where errors are more likely to occur.

Transaction by Customer

Description: Lists the count and amount of transactions for each active customer in the report period. This can be used to understand where the majority of your client's money is coming from, and who to approach to negotiate more favorable terms for cash flow reasons.

Transaction by Vendor

Description: Lists the count and amount of transactions for each active vendor in the report period. This can be used to understand where the majority of your client's money is going, and who to approach to negotiate more favorable terms for cash flow reasons.

Transaction by Type

Description: Lists the volume by count, line item and amount of each type of transaction in the report period. This can be used to scope steady state engagements, and get a sense of opportunities for which transaction types would be most impactful to automatically record through better bank rules or integrations.

Transaction Count by Bank & Credit Card Account

Description: Lists the count and type of transaction for each bank and credit card account used in the period. This gives you a sense of which bank and credit card accounts have the most activity, and whether or not centralizing activity may reduce the ongoing account management.

Transaction Count by Month

Description: Lists the volume of transactions for each month in the report period to highlight any seasonality that may be present in the client's business. This is important to know for capacity planning at your firm (to handle the spikes in transaction volume) as well as cash flow planning for your client.

Transaction Type by User

Description: List the count and type of transactions created by each user in the report period. This helps identify control breakage and capacity issues where the transaction load isn't being spread according to your internal assignment.

User Activity

Description: List the count of transactions created, transactions modified, and anomalies for each active user in the period. This can help identify control or process breakdowns as well as any training gaps causing anomalies in the client data.

Vendor Profile Completeness Score

Description: Generates a score based on completeness of vendor profiles inside the ledger software. Complete profiles reduce the chance of error internally, and make fraud harder to commit.

Vendor Usage

Description: Lists the total number of active vendors in the ledger software and the number that were used inside the report period. Vendors that are not getting used recently should be inactivated to prevent clerical errors.

Reports

Accounts Receivable Aging

Description: This report is important to review as it provides an overview of the outstanding balances owed to a company by its customers. By reviewing this report, a company can identify any delinquent accounts and take appropriate actions to collect the overdue payments. It also helps in identifying potential cash flow problems and improving the overall financial health of the company.

Accounts Payable Aging

Description: This report is important to review as it provides an overview of the outstanding balances a company owes to its suppliers. By reviewing this report, a company can identify any overdue payments and take appropriate actions to avoid late fees or potential legal issues. It also helps in managing cash flow by ensuring that payments are made in a timely manner while maintaining good relationships with suppliers.

Balance Sheet Variance

Description: This report is important to review as it compares the current balance sheet of a company to a previous period and highlights any changes in each account. By reviewing this report, a company can identify any significant changes that may indicate financial issues or opportunities for growth. It allows management to take proactive steps to address any concerns and make informed decisions about the company's financial strategy.

Profit & Loss Variance

Description: This report is important to review as it compares the current profit and loss of a company to a previous period and highlights any changes in each account. By reviewing this report, a company can identify any significant changes that may indicate financial issues or opportunities for growth. It helps in managing expenses, optimizing revenue, and improving the overall profitability of the company.

Insights & Reports

Insights

Reports