Leveraging Statistical Accounts in Intacct

• June 24, 2016
• Kathy Jastrzebski

Statistical accounts are a powerful reporting tool in Intacct. They provide a new layer of insight into your business that may be invisible otherwise. Imagine being able to run a report on average sale per customer without any extra work past setup of the stat account and report? Or average sales per sales rep? Or days sales outstanding? All that is possible with stat accounts!

What might steer you away from statistical accounts, however, is the amount of upkeep. More data to enter, to track, and whether you’re the one entering the data or just the one asking your department to – it’s usually the task you’re willing to compromise in order to keep a happy, efficient department. Well, compromise no more; you can now have the best of both worlds: insightful reports to help drive your business without the extra work. Today’s post will cover not only the basic setup of statistical accounts but also how to make the upkeep more efficient with some recent Intacct releases!

Part 1: Set Up

Step 1: Statistical Account Setup

General Ledger > + Statistical Accounts

Fill out the following fields:

• Account Number – I’d recommend starting your statistical accounts with “S” so they are all grouped together and at the bottom of any picklists.
• Name – Name of what you’re tracking.
• Report Type – either “For the Period” or “Cumulative Balance”. For the period means you’ll be recording the change in the statistical account each period, while cumulative balance means you’ll be recording the end balance of that account.

Step 2: Statistical Journal Setup

1. General Ledger > Open Setup > + Statistical Journal

2. Fill out the following fields:

Step 3: Add your Beginning Balance Journal Entry

1. General Ledger > + Statistical Journal Entry

Step 3: Add your Beginning Balance Journal Entry

1. General Ledger > + Statistical Journal Entry

2. Fill out the following fields:

Part 2: Efficiency

Setting up Recurring Statistical Entries

You might use a recurring statistical entry to run each day to run each day and post to a S002 — Days in Month account. That way, you could then run a report on average sales per month using the statistical account.

Step 1: Navigation
General Ledger > + Recurring Statistical Journal Entry

Step 2: Setup
Fill out the following fields:

Setting up automated Entries (New!)

With a recent release, Intacct made it possible to automatically create statistical entries when a the count of a dimension changes. You could use this to automatically post entries to count customers coming from SalesForce (see our SalesForce integration post) or employee count.

Step 1: Navigation

General Ledger > Open Setup > Configure General Ledger > Dimension Count

Step 2: Setup

Fill out the following fields:

Now, anytime a new customer is added from Salesforce the statistical entry will automatically post! You can then add the customer count to a report as part of a calculation or to a dashboard as a KPI to see new customers this month versus last month:

Now that you’re tracking all the statistical data you need in an efficient manner, you can leverage that data in reports and KPI’s. Stay tuned for a post coming your way soon on using statistical data in reports!

In the meantime if you’d like to leverage statistical accounts within your company and would like any assistance feel free to reach out to your Intacct team at CLA!

Tags: Statistical Accounts, General Ledger | 1 Comment »