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BTerrell Group Blog
BTerrell Group is now billing our company’s projects through Intacct, and are excited to see the new financial reports by project in the coming month.
My last blog highlighted that BTerrell Group is converting our internal books to Intacct, and we're having fun with some of the features. We’ve set up the dimensions of location, department, project, vendor, customer and employee to be able to easily slice and dice the data and report margins several ways. I’ve used the handy ALT+D+ALT+Enter keystrokes to open a contemporaneous instance to check data or tweak a report without having to exit what I’m doing.
Now I’d like to highlight a couple more features that have made this transition easy and fun. I want to create a dashboard with a real-time P&L by customer. Sounds complex, right? How long do you think that will take? The answer's an easy one...it takes just a few steps and we have a new report in the dashboard in just a few minutes.
We’ve been converting BTerrell Group's own books to Intacct. It’s been a great learning experience, considering we are multi-entity and multi-currency requiring global consolidation, we want to measure margin by project, our project billings require revenue recognition, and our managers want customized dashboards. This setup has not been a walk in the park (but, don't worry - we're learning on ourselves so we can help our clients)! During the process, however, I’ve become fond of a few features within Intacct:
Transactions can be ‘tagged’ with different dimensions, which then can be used as report filters. Not only does this kick up the breadth and depth of reporting, it streamlines the chart of accounts. All office expenses are charged to account 58000, Office Expense, and depending on the setup, can require these different dimensions at entry: Department, Class, Location, Project, Customer, Vendor, Employee or Item. I hear the groans – yes, it does require some input time, but it saves much time exporting data and creating pivots around fields. Finally, the standard dimensions can be renamed to fit your business, and custom ones can be added.