How Sage Intacct Dashboards Can Benefit Family Offices

By - August 9, 2021

Accounting for family offices includes a wide range of needs. Sage Intacct dashboards can help manage them more effectively. Dashboards, which are part of the cloud-based financial management system, offer high-level views of any aspect of the family office, as well as deep insights.

These dashboards can be accessed by family members, as well as by executives and staff of the family’s businesses, foundations and holdings. For example, if a family member wants to see their residential properties and expenses, they can view a dashboard that consolidates everything or look at each residence individually. The house managers can be given an Intacct login so they can look at the expenses for each household. 

Graphs and Reports Offer Clear Views

The components of Intacct dashboards include graphs and reports. Graphs can feature anything from AP aging, which shows the due dates of bills and invoices, to investment revenue. Reports may be the main financials, like balance sheets or profits and loss, or an expense analysis. For instance, a household expense analysis report might look at the details of one property, such as the amount of the utilities and how much is being spent on landscaping. Another expense analysis might compare those amounts for all of the family’s residential properties. Each customized dashboard can include the graphs and reports that are most important to the user.

The number of dashboards that can be created in Intacct is unlimited. You can have as many as are needed, whether you want to see a summary of each business or a consolidation of any number of entities. The dashboards are highly interactive and users can drill down to the levels they want to see.

The benefits of using Intacct dashboards

Permission-based access: With Intacct’s role-based dashboards, users see only the dashboards they have been given permission to view. Just because a dashboard is in the system doesn’t mean everyone can have access to it. For example, a CFO for one of the family’s businesses or foundations can put a lot of sensitive information on their dashboard without being concerned about employees from other entities seeing it.

Saving time: Without these dashboards, the accounting staff would have to spend countless hours running reports separately and compiling them. The dashboards allow all that data to be seen on a single screen, so it can be easily and quickly reviewed and understood. 

Ease of use: A dashboard can be set up as a user’s home screen. Users who won’t be entering transactions into the system don’t need to complete training on how to use Intacct. All they need to do is log in to see their dashboards. If they need to review multiple dashboards, they may need a little help learning to navigate to each one, but that’s it. 

Real-time numbers: The dashboards aren’t static. Because Intacct is cloud-based, all data entered into the system is updated in real time, which means the dashboards show up-to-the-minute information. Users don’t have to wait until the end of the month to see what’s going on.

The ability to use data from outside systems: Information from other systems can be brought in with an import or through Intacct’s open API. This data can be used for computations and to create high-valuable KPIs for all aspects of the family office. These KPIs can then become part of any number of dashboards.

Want to find out more about how Intacct’s dashboards can give you greater insights into family offices? Schedule a call with one of the experts at RSM today.

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