Implementation Roadmap
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Following are the general instructions for initial setup of Corelytics and for steps after initial setup to take full advantage of Corelytics functions.
Initial Setup
Account setup – this will either be done by CoreConnex staff or by setting up an account on the Corelytics Order page
QuickBooks Web Connector – initial setup instructions can be found at QB Web Connector Set Up
Data Mapping and Company Set Up
Data Mapping - This is the process of setting up the relationship between all of your QuickBooks accounts to the Corelytics Standard Accounts. This process is generally done once when initially setting up Corelytics. In future months as you update your data, the data map allocation rules will be applied automatically.
The Data Map screen
- click on Configuration -> Data Map
- Select an account from the Source Data Account list on the lower left
- Then, select one or more accounts in the Standardized Data Accounts on the lower right.
- In the upper portion of the screen, enter the percentages for 1 to 3 lines of business. When the percentages add up to 100%, hit the Save Allocation button.
- Repeat this process for all accounts in the Source Data Account list – when all accounts in the Source Data Account list are green the (orange) Commit Data box will appear
- Click on the Commit button – all graphs and charts will be displayed in the Leading Indicators and Financial screens
Initial company setup – set up the following to enable Corelytics to display meaningful information to you about your company:
- Company profile
- Staffing
- Ownership
- Goals
In the lower left of all screens is a setup status bar. This includes a link to “more info” that lists each of these areas and gives you links to each screen where the data is entered. When the data entry is complete the status bar will show that the initial data entry is complete.
Extended Setup
- Adjustments – this allows dollar amounts to be moved between multiple accounts to allow a more accurate presentation of financial data. Typical uses for adjustments include:
- Owner pay – this can include moving money from general payroll to the owner payroll
- Owner incentive – moving a portion of owner pay to the incentive account
- Revenue timing – some revenues may have been billed early or late resulting in a peak and subsequent valley in revenues that can be more accurately represented with an adjustment. To accomplish this, money needs to be taken from revenue with an offset in the equity account in one month and doing the reverse in the next month
- Expense timing – same concept as revenue timing
- Additional goals – once the basic 7 goals have been setup, consideration should be given to setting up additional goals.