Use statistical accounts for financial reports and allocations

Planned for the May or June Fundamentals releases as we need to incorporate these changes in our more advanced version of Financial Reports and Allocations.

Business value

You can define statistical values and register them in a separate ledger so that you can analyze the data in reports and use data to support batch allocations.

When posting G/L transactions, the Quantity field alone doesn't provide much data for statistics and data analysis for the transactions. More data is often needed to increase the relevance of reports.

Statistical accounts improve analysis and progress tracking by letting you add a number-based statistical value to a separate ledger. For example, you might want to add the following information to clarify values on reports:

• Square feet in your building for tracking rental expenses.
• Number of full-time employees.
• Patients or cases treated for a given marketing spend for capitation reports

You register the values for the statistical account in Statistical Accounts Journals, and then find the values in the statistical accounts ledger entries page or by going to the ledger entries for an account from the Statistical Accounts list.