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Release updates for G-Accon for Xero/QuickBooks

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G-Accon for QuickBooks/Xero: Changes and Enhancements released in September, 2024
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G-Accon for QuickBooks/Xero: Released Changes and Enhancements

NEW Formatted Consolidated Reports with White Label (Customer Logo):

Creating a Formatted Consolidated Report with White Labeling allows you to compile data from multiple sources into a single, cohesive report while customizing its appearance to match your brand. This process involves:

1. Consolidated Report Generation: Integrating data from various Xero or QuickBooks entities into a unified report, formatted for consistency and readability.
   
2. White Labeling: Customizing the report with your company's branding, which enhances professionalism and reinforces trust with clients.
   
3. Benefits: The result is a professional, branded report that's efficiently generated, flexible for different audiences, and ready to share.
   
4. Use Cases: Ideal for financial reporting, operational performance reviews, and client presentations, offering a comprehensive and branded view of data.

How to Generate Formatted Consolidated Report with or without the Intercompany Eliminations and with White Label (Customer Logo):

Step 1. Create an Intercompany Elimination Set

The primary objective of intercompany elimination in consolidated financial statements is to present a fair and accurate view of the entire economic entity. 

These transactions occur between entities within the same consolidated group and involve the exchange of goods, services, or assets. By eliminating them, companies avoid double counting and the distortion of the consolidated financial statements.

1. Access G-Accon for XERO or G-Accon for QuickBooks and navigate to Tools, then select Intercompany Eliminations.
2. Select at least two organizations for the elimination process.
3. Define a name for your Elimination Set.
4. Search for accounts within the Profit and Loss, Balance Sheets, or both by using search functions (Search by account code, name, type, classes, and ect)
5. Apply elimination criteria based on your company's requirements to remove specific accounts.
   
   
   for Xero:

for QuickBooks:

A step-by-step guide on creating intercompany elimination rules

Step 2. Add White Label (Customer Logo) to Consolidated Report

• Select the Formatted Reports Style Settings under Tools menu option

• Chose White Label
  
  Select White Label position from the dropdown box
  Set up the Cell Height
  Upload Customer Logo in jpg, jpeg, png, gif, bmp, or tiff formats

Step 3. Generate Formatted Consolidation Report with Intercompany Eliminations and White Label (Customer Logo)

• Select Get Accounting Data/Reports --> Formatted Consolidated Reports
  

• From the provided list, choose a report that includes or does not include Intercompany Eliminations.

• Set the necessary report parameters and select the Elimination Set created in Step 1.

Elimination Set

Next step is to identify Elimination Settings. These settings will dictate what you want to see as part of the reports in Google Sheets.

Elimination Settings

The Elimination Settings options are:

• Exclude Eliminated Transactions: This option excludes transactions that have been eliminated from the dataset and identify in the Elimination Set
  
• Only Eliminated Transactions: This option includes only transactions that have been eliminated from the dataset and define in the Elimination Set
  
• Exclude Eliminated Transactions (Separate Column): This setting excludes transactions that have been eliminated from the dataset, define in the Elimination Set, and presents them in a separate column for clarity or further analysis.
  
• Include Eliminated Transactions (Separate Column): This setting includes transactions that have been eliminated from the dataset, define in the Elimination Set, and presents them in a separate column for clarity or further analysis.”
  
  

Step 4. Change Pull Settings (Xero/QuickBooks)

Before generating consolidated Xero or QuickBooks reports in google sheets, you can organize your report. G-Accon offers the flexibility to set up Dates Format, Show Negative values in red, add company name, add customer logo, and ect.

The needed feature needs to be selected under the Change Pull Settings menu option.

Step 5. Change Report Style by report sections

When customizing a report, you can adjust the style of each section independently to ensure that the document is visually cohesive and aligns with your desired format.

This allows you to tailor the appearance of individual sections, such as headers, section title, subsection title, section total, and ect. according to customer's theme and color.

Step 5. Convert the consolidated report in your client's currency

All G-Accon's Xero and QuickBooks reports can now be displayed in your chosen currency. Your real-time reports will automatically update to reflect the selected currency without any further action needed.

Step 6. Generate Formatted Consolidated Report with White Label

This is the final step of generating a consolidated report that compiles data from multiple Xero or QuickBooks organizations into a cohesive, well-formatted report, customized with your client's company's branding through white labeling.

This reports ensures a professional, branded presentation that’s easy to read and ready to share by using G-Accon automatic workflow or google sheets "Share" function.