Rounding Financial Statements
Enabling rounding will round your financial statements rounded to the nearest dollar.
To turn on rounding for financial statements, go to:
Practice Settings (⚙️ icon)
Click Practice and Statements
Click the Statements and Reporting tab
Check Enable rounding
Delivering Financials for Prior Periods
When you go to the Reporting tab, the period that the reporting is based on is the close month that you're currently in. So if you want to deliver financials from prior periods, you need to go to an older close (or create one if you haven't).
Click the arrow next to the current client close period in order to switch between different closes.
Adding Legal Disclaimers
You can set practice-level legal disclaimers for your management reports by going to:
Practice Settings (⚙️ icon)
Practice and Statements
Click the Legal Disclaimers tab
You can set separate Cover Page and Footer Page legal disclaimers.
Accounts on Key Profit & Loss / Key Balance Sheet Pages
To add key accounts to the Key Profit and Loss or Key Balance Sheet pages of the management reporting section:
Navigate to the close page's Close tab
Scroll to the Final Review closing task section
Hover your cursor next to an account
Select the star 🌟 to note a key account
Starred accounts on the P&L and Balance Sheet closing tasks will appear on the Key Profit and Loss or the Key Balance Sheet page in your Management Reports.
Collapsing Accounts in the Management Report
To collapse the accounts in the Profit and Loss report to show only Parent Accounts, enable the Collapsed setting in the report.
You can also enable Collapsed on the Balance Sheet to roll up all accounts to their corresponding categories. For example, this will roll up all bank accounts to the Bank Accounts category).
Changing the Order of Financial Statements
To change the order of the reports in the Financial Package section of the Management Report,
Hover over the report
Select the 6 dots to the left of the report title
Drag the report to the desired location
Only reports in the Financial Package section of the Management Report are able to be re-ordered.
Updating Report Titles
If you call your Profit and Loss an Income Statement or you work with nonprofits and call it a Statement of Activity, you can change the titles of your reports in the Management Reports!
To change your report titles,
Navigate to Settings
Select Edit next to Report Titles
You can update the titles to your preference from there
Right Justifying Financial Statements
To right justify the columns in your financial statements:
Navigate to your Practice Settings (⚙️ icon)
Click Practice and Statements
Click Statements and Reporting
Check ✔️ Enable Right Justified Reports
Enabling the right justified reports setting will right-justify ALL financial statements in ALL Management Reports generated for ALL clients.
Reporting FAQs
How can I run a comparative income statement with the total for the year instead of showing all the months?
You can run a comparative income statement with the total for the year by enabling the Custom Column on the Profit & Loss by selecting Calendar YTD for the date range.
Some of the buttons are greyed out on my Reporting and Metrics tabs, how can I change this?
If your Settings button is greyed out under your Reporting tab, or if you notice that the + Add Visual button is also greyed out, you may have Report Lock enabled in your Practice Settings. You can disable this under your practice's Statements & Reporting settings.
Looking for more on Financial Reporting features? Check out our Management Reports / Client Financials article!