NetClose - Saved Flux Scenario Templates

Overview

When generating a flux scenario, you have the option to select a saved "Source Scenario." These scenarios store the flux analysis criteria, allowing you to reuse them at a later date (e.g., Month-to-Month, Year-to-Year). When a source scenario is selected on the generation page, all the saved information will automatically populate, streamlining the flux generation process and reducing the risk of human error. Without a saved source scenario, all the information on the generation page will need to be manually entered each time for each flux analysis. 

This article will guide you through the process of creating a saved "Source Scenario."

Step-by-Step Process

  • Navigate to NetClose > Flux Analysis > Flux Scenarios > New.
  • On this page—at a minimum—input the following criteria in the Primary Information section: 
    • Enter a name for the saved scenario.
    • Select the subsidiaries to include in the analysis.
    • Select the Flux Grouping and Flux Account Types. 
    • Be sure to check the "Scenario Template" box to save the scenario for future use on the Generate Flux Analysis page.

  • The "Flux Dates" section allows you to select the two comparison periods for the flux analysis. The dropdown menu offers a wide range of options, such as Last Fiscal Half, Last Fiscal Quarter, Last Fiscal Year, and Last Month, among others.

  • The "Flux Options" section is where you define the thresholds for the flux analysis. You can set thresholds based on either amount, percentage, or both. These thresholds can be applied to the balance sheet, income statement, or both, depending on your analysis needs.

  • The "Balance Sheet Or" and "Income Statement Or" checkboxes determine how the threshold requirements are applied. When these boxes are checked, NetClose will trigger a required explanation for the account if either the percentage or amount threshold is exceeded for the balance sheet or income statement. If the boxes are unchecked, NetClose will only trigger a required explanation if both the percentage and amount thresholds are exceeded.

  • The "Large Transaction Threshold" field allows you to set an amount threshold for individual transactions. If a transaction exceeds this threshold, it will be highlighted in the flux analysis. These transactions could explain a significant portion of the account balance change, providing valuable insights and helping users better understand the cause of the change, as well as aiding in the completion of the flux analysis explanation.

  • If Flux Analysis AI is enabled in the system setup, the "AI Explanation" section offers several options:
    • Automatically copy the AI-generated explanation as the Primary Explanation.
    • Generate a Flux AI when an explanation is not required.
    • Provide additional context to assist the system in generating more accurate AI explanations.

  • Once the page is completed, click Save to store the flux scenario as a template in NetClose.
  • For instructions on how to generate the flux analysis, refer to the article Generate a Flux Scenario.

Was this article helpful?