You asked and we listened: You can now customise what accounts are used to calculate the profitability insights.
Instead of the Revenue, Direct Costs, and Operating Expenses as defined in the Profit and Loss Report, you can now track exactly what your client needs to know via Aider - e.g. how net profit compares with last year when discretionary shareholder takings or non-performance expenses are excluded.
Don’t worry, the changes you make in Aider won’t affect the P&L report on your accounting platform. Aider just gives you an extra tool to hyper-focus on KPIs that affect your client’s operational and financial decisions.
What benefits does it have for advisors?
Turn standard reporting into powerful actionable insights Get a more accurate picture of how your client’s business is doing, and what needs to improve. Filter out the distortions of discretionary spending, non-performance expenses, and one-off income - e.g. government subsidies - to understand if the business is fundamentally sound.
Deliver accurate advice that reflect each client’s unique circumstances Every client’s profit and loss accounts are different. Ensure your profitability reporting accurately reflects each client’s real business circumstances and performance.
Help your clients manage their fund drawings from the business Better visibility of actual business performance helps your client plan when and how much funds they can withdraw safely from the business without negatively affecting the business operation..
How does it work?
Revenue, Direct Costs, and Operating Expenses accounts settings
You can find these settings in the client’s Client Settings > Advisory Settings.
Or you can simply go to the insight and click the “Change >” link in the “Settings” summary just above the “Trends” summary.
The Gross Profit and Net Profit are calculated based on these income and expenses settings.
The changes you make will also be reflected in the:some text
Report Pack
“Profitability insights” data provided to the Advisory Assistant.
We’re not done improving…
Our team is still working hard to help you deliver better advice to your clients. Watch out for more advisory analysis tools and enhancements to come!
