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AcctTwo Blog

Dimensions in Accounting Software

From the Perspective of an AcctTwo Implementation Consultant

dimension_photo.pngI was recently asked what aspect of implementing Intacct's accounting and ERP software seems to have the greatest impact and benefit for our customers, and I would have to say that, in my opinion, Intacct's Dimensions are the most impactful feature that we implement. Most of our customers come from a world of legacy accounting software that required them to add dozens or hundreds (and even thousands!) of GL accounts to their accounting system just to make a specific distinction that can be done easily with dimensions. As an example, customers might have an account for Fixed Assets. If they wanted to report on that account by location, they would have to create a separate account for Fixed Assets for each location. With dimensions, we're able to set up just one account, but we can still report on that account by location or any other aspect we define.

The Project Dimension

Common dimensions our customers use are Department, Location, and Class. Class often gets renamed to define a dimension very specific to the customer's particular business. But I've found the Project dimension to be the most useful. While Intacct provides some project accounting capability out of the box, companies that require more sophisticated project accounting, such as project-based revenue recognition, project manager approvals, billing off of project-based milestones, etc., can add the Intacct Project Accounting module. Intacct's core product, however, does allow users to code transactions to certain projects, which allows companies to track expenses, time, cost, and profitability. Projects can also be viewed at-a-glance, giving our customers a dashboard-style overview of each project.

7 Reasons to Move to Cloud Financials Now White PaperDimension-Based reporting

Intacct's dimensionality really comes to life when it comes to financial reporting. Intacct has a very powerful and user-friendly financial report writer that allows our customers to build and tailor financial reports, slicing and dicing their data by any dimension that they've defined. These reports also allow drill-down capability, where a user can actually click through any item in the report all the way down to the transaction level. Some examples of the flexibility and insight available through reporting on dimensions that we've implemented for our customers include (dimension in italics):

  • Revenue by Customer or Customer Type
  • Revenue by Customer Type by Item 
  • Revenue by Item or Product Line
  • Profitability by Project
  • Actuals to Budget by Department 
  • Recurring Vendor Analysis

Intacct's dimensions provide insight into your business in a way that once took a great deal of work or a bloated chart of accounts, and they allow our customers to see information about their business in a way that simply wasn't possible before Intacct.

Video Overview

In case you're interested, here is a video overview of Intacct's dimensional capabilities:

 

About Baran:

Baran_Sonmez_linkedin_bw.jpgBaran Sonmez is a Senior Solution Architect at AcctTwo. He's one of the firm's most experienced Intacct implementers. Baran has been with AcctTwo since 2013 and has been a big part of the firm's fast growth in the last few years. He was born in Istanbul, Turkey but attended Trinity University in San Antonio, TX. Baran is a huge basketball fan, coaches basketball, and is interested in anything basketball-related. 

Topics: management reporting Financial Reporting Intacct Dimensions