Financial dimensions in Intacct are what allow the system to create reports with greater operational context. However, if your organization receives a lot of grants from multiple funding sources, the manual entry of tagging these entries may prove troublesome. Thankfully, Intacct prefers to increase efficiency and reduce errors. That is why they created Dimension Relationships.
A dimension relationship allows one to automatically populate the value of or provide a filtered-drop down list of another dimension. For example, imagine that your organization utilizes two primary dimensions when transacting in data entry screens: Grant and Funding Source.
Say your organization tracks many grants from several different funding sources. These funding sources might be federal, state, private, etc. Each grant that you track falls under one of these funding sources. Without dimension relationships established, both the Grant and Funding Source dimensions would need to be manually filled in during data entry. Once dimension relationships are configured, when the Grant is selected during data entry, the Funding Source field will automatically fill to the proper value. Not only does this drive increased efficiency, but it also ensures that the correct Funding Source will always be identified.
This type of auto-population occurs when selecting the Grant dimension first. If you choose to select the Funding Source first, the auto-population will not occur. However, if you select a Funding Source first, the Grant drop-down menu will only list grants which are related to the funding source you identified. This also prevents inaccurate posting during data entry.
Author: Wes Salisbury is an Intacct Consultant in the Business Solutions & Technology Department at Maner Costerisan, a full service CPA firm based in Lansing, Michigan. Maner Costerisan is a leading provider of financial accounting software solutions, technology consulting and traditional CPA services to not-for-profits throughout the Great Lakes area. For more information contact Wes at 517.886.9610 or [email protected]