Statistical Accounts: Capturing Operational Metrics in Sage Intacct

Statistical Accounts: Capturing Various Operational Metrics in Sage Intacct

Overview

This article provides a guide on using statistical accounts in Sage Intacct to record non-financial data. The tutorial, available here, explains the importance of statistical accounts in capturing various operational metrics.

Key Points on Statistical Accounts

  1. Purpose:

    • Used for recording non-financial data like square footage, employee headcount, sick days, PTO days, work hours, etc.

  2. Applications in Reporting:

    • These accounts help track vital operational metrics and can be used in financial reports and custom reports to display this data.

    • Examples include calculating revenue per square foot, expense per employee, or revenue generated per labor hour.

  3. Best Practices for Account Numbering:

    • Avoid using the same numbering system for statistical accounts as used in the general ledger.

    • Ideal to start statistical accounts with a letter or use alphanumeric codes.

    • Limit to the same number of digits as GL accounts but can include letters.

  4. Setting Up Statistical Accounts:

    • Choose a clear identifier, like 'LABH' for labor hours or 'LAB100' for regular labor hours.

    • Ensure the reporting type is appropriate for the intended calculations.

    • Locations may be required for tracking, especially for projects and cost codes.

  5. Importance of Clear Identification:

    • Clearly identifiable statistical accounts prevent confusion with financial accounts in reports and journal entries.

  6. Data Types Recorded:

    • Statistical accounts can record numerical data, counts, square footage, etc., but are not used for financial reporting.

  7. Templates for Setup:

    • Similar templates to those used for general ledger accounts can be utilized for setting up statistical accounts.

Conclusion

Statistical accounts in Sage Intacct are crucial for tracking and reporting various operational metrics. Proper setup and clear identification are key to effectively utilizing these accounts for insightful data analysis and reporting.

Source Video: Statistical Accounts: Capturing Various Operational Metrics

Note: This article is a summarized version of the content presented in the linked video. For more detailed instructions and visual guidance, refer to the video tutorial.

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