A Video Introduction to the Advisory Portal
Qvinci's Advisory Portal is an invaluable tool for accountants, franchisors, dioceses, and SMBs that allows users to easily analyze location-specific or organizational performance on demand. The Advisory Portal acts as a bridge for business and diocesan leaders with meaningful metrics and a bird's-eye view of overall financial health and performance patterns. The Advisory Portal empowers...
- Accountants to provide an invaluable service that will not only strengthen the operation of their clients but transform client relationships from compliance to consultancy.
- Franchisors and multi-unit SMBs to monitor and proactively reach out to franchise owners or location managers to rectify issues that are negatively impacting profits.
- Diocesan Chancery to have meaningful financial insights at their fingertips, ensuring that more informed decision-making, financial transparency, and operational efficiency occurs.
Summary of Contents
- Advisory Portal Contents
- Finding the Advisory Portal
- Setting Filters
- Reporting Date vs As of Date Definition
- Setting the Reporting Date
- Reporting Month Data Ready Feature
- Changing Period Comparison
- Drill-Down Capabilities
- Exporting to Excel
- Adding a New Client/Company
1. Advisory Portal Contents
The Advisory Portal includes 10 metrics and ratios that accounting professionals and executives frequently monitor. Additionally, it allows access to Qvinci's General Ledger Activity Report and Journal Entry Management (if enabled).
Available Metrics and Ratios:
- GL - Access to General Ledger Activity Report
- JE - Access to Journal Entry Management
- Total Income - A percent change of Total Income
- COGS - A percent change of Cost of Goods Sold
- Gross Profit Margin - A percent change of Gross Profit Margin
- Top 10 Expenses - A percent change of the Top 10 Expenses as a percent of income
- Net Income - A percent change of Net Income
- Net Profit Margin - A percent change of Net Profit Margin
- Months of Cash - A percent change of Months of Cash (expense per last month of data range)
- Cash - A percent change of Cash
- A/R - A percent change of Accounts Receivable
- A/P - A percent change of Accounts Payable
2. Finding the Advisory Portal
Step 1. Log into your account via web.qvinci.com.
Step 2. Click on Portals on the left navigation bar.
Step 3. Select Advisory Portal on the drop-down menu.
📔The Advisory Portal is the default page for all users unless set otherwise.
3. Setting Filters
A filter can be set for any column field that contains the icon. This allows Advisory Portal users to narrow down to specific data using any parameter. To set a filter:
Step 1. Navigate to a column and click the icon.
Step 2. Use the green box to change the Operator (Is equal to, Starts with, Contains).
Step 3. Enter the desired parameter into the text box.
4. Reporting Date vs As of Date Definition
The Advisory Portal uses the Reporting Month in the comparison choices, which is set by the user. The Reporting Month is the As of Date.
5. Setting the Reporting Date
Step 1. Click on Reports & Libraries on the left navigation bar.
Step 2. Select Account As of Date.
Step 3. The first step is to select the date type. Select Relative to the Current Date (recommended) and press Save at the bottom of the screen. When setting custom As of Date, set the desired date and click Save at the bottom of the screen.
❗NOTE: The "mm/dd/yyyy" is no longer necessary because users can no longer enter raw dates. The date picker must be used.
❗ NOTE: Files must be resynced to update the Advisory Portal based on the new reporting date. If no reporting date is set, it will default as today.
❗ NOTE: Only admins or leader-level users will see Account As of Date. Franchise-/Client-/Company-level users - such as Managers - will not see Account As of Date but will see Client As of Date or Company As of Date depending on the SKU purchased.
📔For more information on As of Date, visit "Qvinci's As of Date."
6. Reporting Month Data Ready Feature
The Reporting Month Data Ready column informs the administrator when you have closed out your financial data for the reporting month. At the start of each month, this column dynamically updates to its initial state, which is the calendar icon . The user will then select a date from this month after they have completed their financials to indicate the reporting month data is ready. Once you have uploaded your financial data and synced it with Qvinci, the date will show as green. Any user can set and unset the Reporting Month Data Updated field.
Step 1. Navigate to the Reporting Month Data Ready column.
Step 2. Click on the correct row to confirm reporting month data is fully updated.
Step 3. Once the calendar appears, select the date when you have finished.
❗ NOTE: If the date is green, this means you have finished for the month. If the Reporting Month Data Updated field date is BEFORE OR SAME DATE AS "Last Sync" date, the Reporting Month Data Updated date will be green.
❗ NOTE: If the date is red, this means you need to resync your data to add your latest information to our platform. If Reporting Month Data Updated field date is AFTER "Last Sync" date, the Reporting Month Data Updated date will be red.
7. Changing the Period Comparison
All values presented in the portal are a % change of the comparison dates that have been chosen. The Advisory Portal allows for the comparison of 5 different periods:
- Reporting Month versus Prior Month
- Reporting Month versus Same Period Last Year
- Reporting 3 Months versus Prior 3 Months
- Reporting 3 Months versus Same Period Prior Year
- Reporting Fiscal YTD versus Same Period Prior Year
To modify the period:
Step 1. Navigate and click on the green box labeled Reporting Month versus Prior Month.
Step 2. Select the desired periods for comparison and the data will automatically rehydrate.
8. Drill-Down Capabilities
The Qvinci Advisory Portal has unique drill-down capabilities that allow the user to start with the summary data in the Advisory Portal (as a % of income) and then drill down one level to more granular financial data to the Advisory Scorecard. Next, the user can then drill down further to even more granular data in the underlying financial reports.
a. New Drill-Down Capabilities
b. Drill Down to the Advisory Analysis Card
Each cell in the Advisory Portal is a hot cell, meaning you can click on any cell containing a ratio to start the analysis process. Doing so will drill down to the Advisory Analysis Card which contains the summary-level data.
Step 1. Navigate to and click on any cell under any one of the 10 ratios.
Step 2. A popup will appear with a detailed Advisory Analysis Card containing the summary underlying data which makes up the ratio in question.
c. Drill Down to the Underlying Financial Reports
When you are reviewing the Advisory Analysis card, you can drill down further to more granular data.
Step 1. Open the Advisory Analysis Card as described above.
Step 2 Click on the report icon in the lower-right corner (as shown above) to drill down to granular data underlying the financial report to display even more granular financial data represented on the Advisory Analysis Card.
d. Drill Down to the General Ledger
Similar to the Financial Portal, the Advisory Portal is capable of navigating to the General Ledger Activity Report and also to the Journal Entry Management screen (if enabled).
❗ NOTE: After drilling into the Advisory Analysis reports, the user can further drill down right into the General Ledger itself. A user can click from Portal -> Card -> Report -> GL (in that sequence).
❗ NOTE: In order to drill down into the General Ledger or Journal Entry areas, this functionality must be purchased and enabled. All the GL and JE drill-down information will not be present if it has not been purchased.
e. Drill-Down and Journal Entry Management
❗ NOTE: In order to drill down into General Ledger or Journal Entry areas, that functionality must be purchased and enabled. All the GL and JE drill-down information will not be present if it has not been purchased.
📔For more information on Qvinci's General Ledger, visit Access General Ledger Activity Report.
📔For more information on Qvinci's Journal Entry system, visit Creating & Managing Journal Entries in Qvinci.
9. Exporting to Excel
Step 1. Navigate to the button located at the top-left of the screen.
Step 2. An Excel file will be immediately downloaded and available for use.
10. Adding a New Client/Company
For franchises and multi-unit accounts, an button can be found at the top-right of the screen.
For accounting firms and CPA accounts, an button will appear at the top-right of the Advisory Portal.
❗ NOTE: Adding a new client or company is only available to users with permission to add and manage clients or companies.
📔For more information on adding additional clients/companies visit: Create Additional Clients/Companies.
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