Accounting Package Integrations
Currently VFD Pro can sync with Xero, Sage & QBO. We plan to release ‘Universal Support’ so that any accounting system or someone managing client accounts using Excel can import their data into the system to utilise the reports & models.
If you have access to a portal you will access to Demo Reports. Within the Demo Reports there is a model called ‘Universal Funding Proposal Model’. This is a template that will allow you to enter accounting data.
There is a phased roll out to support non-UK users. Please register your interest to be kept up-to-date with new releases.
Only Standard & Advisor user roles are able to authorise Apps on Xero. If your client has only set up with ‘Read Only’ access, you will not be able to authorise the VFD App via your Xero logon. The easiest option is to ask them to change you to ‘Standard’ or ‘Advisor’.
For clients with less than 2 years data the reports still provide useful output information but clearly a lot is lost in some reports that focus on ‘this year vs last year’.
The Performance Trend report is designed to build up month by month, then quarter by quarter, then six months by six months as the data builds, (the sectors only publish when there is data to make the report meaningful.
The Performance Trend Report is found in the top section under reports.
We don’t capture an audit trail for every client that sync their data. We did however go through a rigorous reconciliation exercise when gaining approved app status. If you want to reconcile to Xero, the easiest way is to run a P&L for the same period as the VFD Pro output or run a balance sheet report for the same reporting date.
Decide which nominals you want to consolidate
Example – Consolidate nominals 4001, 4002 & 4003 into nominal 4001 (Primary Nominal)
Remove the nominals you want to consolidate from Nominal Structure, leaving only the primary nominal
Example – Remove nominals 4002 & 4003 from nominal structure file
Change NominalRecord.AccountReference and NominalRecord.AccountName on the Transactions file for the consolidated nominals
Example – Change NominalRecord.AccountReference and NominalRecord.AccountName for nominals 4002 & 4003 to equal that of 4001 leaving all other information unchanged
Consolidate nominals on the Trial Balance for all nominals into the primary nominal
Example – Transfer the balances of nominals 4002 & 4003 into nominal 4001 and then delete the lines for 4002 & 4003
Check the trial balance still equals zero
The reports are running for January because the reporting date selected is currently January 21.
In order to run reports for a desired reporting date you need to do the following.
• Click ‘Edit’ next to the client
• Change the reporting Month and Year
• Click Save
• Click Sync Data
Yes, as an Accountant / Advisor you can give your clients access to logon and access their reports. (e.g. the MD and the rest of the directors / managers). As the client will not know when VFD Pro has generated reports, the system will then send an email to the client to tell them new reports are available and invite them to logon and access their reports.