3 Essentials for Management Reporter Beginners
I’ll be short and sweet. [For those who know me, just a little joke.]
What you need to know—I’ve boiled it down to 3 essentials:
Start with the Main Account
—aka Natural account or Object code. Don’t try to mix in other dimensions in the row (departments, funds, locations, etc.) until you’ve got a report with the Main account done and tied out. I know you can—and I know other people say you can, but they don’t live in the real world where you have to be concerned about accuracy.
By default, drilldown is not enabled [sigh]. First thing to do when you set up a report definition: select Financial & Account in the Detail Level dropdown. Now you can drill down to detail when your report generates. This is one of MR’s most important features. Thank me later.
Anyone can churn out MR reports. Whether they’re accurate or not is another story. Here’s how you can tell—add a “check accuracy” row to the bottom of every P&L—it should pull a range of the accounts covered by the report, so that you can compare your report’s calculated bottom line to what the total really should be. Want a few more details? Column B should read “check accuracy”. Column J should read 4000:9999—or whatever your P&L range is. On the following row, I always include an ‘out of balance’ calculation too—so you can see the exact amount it’s off.
There’s lots more to know, of course. But I promised short and sweet. Cheers. Jan