What is Financial View reporting?

Selecting Financial View will create management reports based on when the sale or service occurred i.e. the Invoice or Event Date.  This can have a significant impact on reporting when there are transactions that bridge financial years or reporting periods.

How is it different from Payment Date reporting?

Payment Date reporting is based on when the actual payment took place in your bank account or when you think a planned item will happen.  This view is helpful as a cashflow view, especially if you want to look at the timing of events through your bank account.

NOTE: If you run a report using Financial View mode, though it's including and excluding data based on the invoice/event date, the coded line will continue to display the transaction date.

Reports that include this option are:

What about Unpaid Invoices in my Needs Action?

If you have invoices listed in your Needs Action that haven't yet been paid or matched to a transaction, by selecting Financial View, these invoices will be included in the reports. You need to ensure that the invoice is coded so that the dollar amounts are applied correctly to each code in your reports.

What do I need to do to have accurate Financial View reporting?

Bank transactions need an invoice/event date attached to the record.  You can do this by either:

  1. Matching the bank transaction to an Invoice or,

  2. Recording an event date on livestock-related bank transactions

In the plan worksheet, set a payment term of 1 month or greater prior to the payment date.  You can also define the payment term to 1 - 365 days prior to the payment date.

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