In the coming weeks, the Strongbox output will undergo some changes! Most of these changes will be welcome enhancements. We put together a few resources to help you and your team manage these changes, including this article, which highlights some of the changes (if you’re more of a hands-on learner, you can click through this tour of the changes instead). Additionally, we created a Knowledge Base Article to give you a full of changes in one centrally located place.
Why Are We Making These Changes to the Strongbox Output
There are several reasons for the changes we’re making to the Strongbox output. Some of the changes are in response to top requested features we’ve gotten from customers. Others were necessities in order to enable additional features, like account mapping.
However, one of the biggest reasons for many of these changes is parity. We’ve heard from so many customers that having a consistent process is front and center for their team, and the best way Strongbox can help with this is to produce the same workbook, regardless of which accounting system or ERP the business was using.
As we add larger ERPS, like Netsuite Oracle (and yes – we have more ERPs on the roadmap!), the output needs to be able to accommodate for the additional functionality these more complex systems offer. Things like multiple currencies, subsidiary companies, and so, so, so much more. Many of these changes to the output enable this data to be incorporated, when available.
Now let’s take a look at what changes you can expect!
Some Tabs Will Be Renamed
With additional data coming in, some of the tab names were too broad. To avoid confusion and to make it crystal clear what data you’re looking at, we’ve renamed some of the tabs:
PNL to IS – all of the PNL tabs will now be labeled IS tabs, followed by the appropriate reporting period in that tab. For example, IS-M is monthly income statements, while IS-I is the income statement for any interim years.
Depending on your output, you may have previously had the FS-DATA or FS-M tabs. To keep things consistent across all outputs, these tabs have been renamed to FS-Detail. The FS-Detail tab is also where you’ll find the details for the levels of mapping for each account (if you have custom mapping in your account, you’ll see your updates here.)
Lastly, the BAL tab has been updated to be TB DATA. With multiple reports potential referring to things that could be “BAL” in short form (like Balance Sheets), this renaming keeps things consistent with the other full data tabs you’re used to.
Data Verification
Whether you’re in FDD or audit, you know how important it is to know the data you are working with is 100% accurate. We’ve added some features to the output to increase your confidence that that’s exactly what you’re getting with Strongbox.
PER tab: With complex ERPs, reporting periods can have lots of variation. To help you make sure the various reporting period labels mean what you think they mean, we’ve added the PER tab. Here, you’ll find all the reporting periods clearly identified in an easy-to-reference chart.
TB-CHK has also been added to show our work. This tab displays numbers from TXN details and sums net change for time periods in question, confirming that they match the sums of the financial statement totals.
Additional Features in the Output
Lastly, you’ll notice that the data available within the tabs themselves has increased or been improved! Here’s some of the highlights:
Inconsistencies in how debits and credits were handled in the workbook has long been a top request from Strongbox users. With this update, debits are treated as positives consistently throughout the workbook.
The income statements tabs have a lot new filtering and sorting functionality! Not only can you filter and sort your columns without losing your structure, you can now also filter your rows as well. For example, in its most collapsed view, you can create a very simple Net Income Report for each reporting period.
In the AR DATA, AP DATA, and REV-DATA tabs, you’ll now find a Posting Date column to help you figure out exactly when an item hit the account.
The TXN tabs which already contained a vast amount of information now have even more! To start, there’s now a GL Reporting Period in addition to the Transaction date. You may be working on an item with a transaction date for when it was entered into the system, but that date falls outside of the GL reporting period where that item should be classified. Now you check both dates to be sure!
Additionally, the TXN tabs, have new columns that include fields frequently found in ERPs, including Company/Subsidiary and Department.
Finally, in the TXN tabs, we’ve delivered on a common customer request! Instead of the “Relationship” column, which made it tricky to determine if you were dealing with a customer or vendor, we’ve broken that into two columns, one for Vendor and one for Customer, so that you always know!
We're Here to Help
If you have any questions about any of these changes to the Strongbox output, our Support Team is here to help. Reach out to support@strongbox.ai or your Strongbox rep with any questions, comments, or training needs for these new changes. We hope these enhancements make using Strongbox even easier!