6 Steps to Create DSO Reports in Sage Intacct
Organizations need to know their day’s sales outstanding (DSO), a measure of the average number of days it takes to collect payments after sales. The challenge is to create fast, accurate DSO reports, so you can save time and get information on your financial team’s efficiency and your liquidity without delay.
Here’s a straightforward, six-step process to help you quickly create DSO reports in Sage Intacct.
Step 1: Set Permissions
You’ll need Permissions to Statistical Accounts, Statistical Journals, Statistical Adj. Journals, Account Groups, Statistical Journal Entries, and Statistical Adjusting Journal Entries. You’ll also need to be a business user.
Step 2: Create Statistical Accounts
Go to General Ledger>Statistical Accounts and click the Add button. If you need help, roll your cursor over “help” at the top right and click on “help on this page.”
Step 3: Set Up Statistical Journals
Go to General Ledger>Open Setup>Statistical Journals and click the Add button. Again, if you need help, roll your cursor over “help” at the top right and click on “help on this page.” You’ll probably want to have different Statistical Journals for each type of Statistical Account.
Step 4: Upload History of Statistical Account
First, decide how far back you want to go with the history of your Statistical Account. Note that if you have multiple entities, you’ll have to upload the history for each one. You’ll also have to open your closed books to upload past time periods.
To upload, go to Company>Open Setup>Company Setup Checklist, where you’ll find all uploaded templates for many areas of Sage Intacct. In the Set Up General Ledger Transactions section, you’ll find Statistical Journal Entries. Click on a template, fill it in, and then go to General Ledger>Statistical Journal Entries. At right, click on “Import Transactions” and upload your file.
For more information, search “CSV Files” in the Help section.
Step 5: Add Account Groups for Reporting
The system should already have “Days in Month.” You simply need to add in AR Divided by Revenue and Days Sales Outstanding. Also, make sure that you choose Statistical Accounts under the structure type.
Step 6: Add to Your Reports
To add a Statistical Account to your Financial Reports, follow these steps:
- Add the Account Group to your Financial Report by editing the report and adding the Account Group in the Rows section.
- Click “Select Account Groups.”
- Find your account group by typing in a few letters, clicking on it, and then clicking “Include in Report.”
- For the DSO report, add the Days Sales Outstanding account group.
Now you’re ready to add your DSO report to a dashboard!
Streamline Your DSO and Other Reports
Want to learn more about how to create reports in Sage Intacct? The team at ACI Consulting is here to help. Contact us today to get all your Sage Intacct questions answered.