NetClose - Saved Flux Scenario Templates
Overview:
When generating a flux scenario, there is the option to select a saved "Source Scenario". These scenarios save the flux analysis criteria so that they can be used at a future date (e.g. Month to Month, Year to Year). When these source scenarios are selected on the generation page, they will auto-populate all of the saved information. This will streamline the flux generation process and avoid any human error. Otherwise, all information on the generation page will need to be filled out each time for each flux analysis.
This article will walk through how to create a saved "Source Scenario".
Step by Step Process:
Navigate to NetClose > Flux Analysis > Flux Scenarios > New
On this page fill out the criteria for the flux analysis.
The "Primary Information" section will require a name for the saved scenario, selection of which subsidiaries to include, and which accounts to include in this flux analysis. Be sure to have the "Scenario Template" box checked. This will ensure that this flux scenario is saved and will be available to select on the "Generate Flux Analysis" page.
The "Flux Dates" section is where the two comparison periods for the flux are selected. The drop down gives an extensive list of options that can be used (i.e. Last Fiscal Half, Last Fiscal Quarter, Last Fiscal Year, Last Month).
The "Flux Options" section is where the thresholds are created for the flux analysis. There is the option to create thresholds by amount and/or by percentage. These can be for the balance sheet and/or the income statement.
The boxes titled "Balance Sheet Or" and "Income Statement Or" mean that if the threshold for percentage and amount are filled out for either the balance sheet or income statement, NetClose will trigger a required explanation for the account if EITHER of the thresholds are hit. If these boxes are not checked, then NetClose will trigger a required explanation for the account if BOTH of the thresholds are hit.
The "Large Transaction Threshold" gives the option to create an amount threshold for the individual transactions. If a transaction is larger than this amount threshold, the transaction will pull up in the flux analysis. These transactions may account for most of the difference in the account balance and therefore, will help the user better understand what caused the change and help them fill out the explanation for the flux analysis.
Once the page is completed, select Save and this flux scenario is now a saved template in NetClose.
To find instruction on how to generate the flux analysis see article Generate a Flux Scenario.