What's New - November 28, 2023

View Client Revenue by Country, State, or Client Type

What is it?

The Client Revenue Report now has additional grouping options. In addition to grouping the report by Client Manager, the report can now be grouped by additional Client tags: Country of Domicile, State of Domicile, and Client Type

Why does it matter? 

These new grouping options provide additional ways to view client revenue. The grouping by State of Domicile, for example, now gives an agency on-demand insight into Income by State. 

How does it work?

Populate the Country of Domicile, State of Domicile, and Client Type on the Client records.

1. Navigate to Accounting>General Ledger>General Ledger Reports
2. Expand the Client Billings & Revenue section and select Client Revenue Report.   Select the desired grouping from the Group By dropdown list.
3. The PDF report sample below shows Client Revenue grouped by State.  
4. The Excel export includes the Client Manager, Country, State, Client Type and Client Manager, regardless of the grouping selected.

Streamlined bank reconciliation 

Improved bank data feed

Automated bank statement feeds using the BAI2 format now includes:

• Additional description details to make reconciliation easier
• FX rate for foreign currency transactions so that payment records for direct debits can be created directly from the "Present Bank Transactions" page. 

Enhanced user experience

The re-designed Bank Reconciliation page now includes a stand-alone button for banks that have automated feeds. This button brings you to the "Present Bank Transactions" page to match your payment and receipt transactions against the bank statement line items. 

We also moved the option to Add Statement Transactions to the main Bank Reconciliation Page. This makes it easier to to create one-off bank statement transactions, including opening balances when onboarding a new entity.

Media WIP Take Up

The Media Cost Reconciliation Summary, also known as Media WIP (Work-In-Progress) shows the variance between the amount billed to the client and the amount invoiced by the media supplier to date.  

A Media Estimate or Media Schedule can have a WIP balance if: 

1. Media costs have been pre-billed (billed based on schedule) and supplier invoices have not been cleared for payment.
2. Supplier invoices have been cleared for payment but media costs have not been billed to the client.

The Media WIP Take-Up function enables you to take up the remaining balance as revenue or write it off when the Estimate is complete.  See Media WIP Reconciliation to learn more.