The process of recalculating the data in Precision needs to happen when any changes take place in Xero or QBO if required before the next sync or when a date range is changed in the checks or reports. Recalculating is required in order to update the data for that period to display the updated information.
When to recalculate depends on where you are in the product and the situation which requires updating the data.
Areas in Precision that offer the option to ‘recalculate’:
What you need to know:
- Ensure that your clients are still ‘linked’ which enables the ability to sync to Xero/QBO so the recalculation process can happen accurately.
If you try to recalculate an unlinked client we will display a banner at the top of that page to request that you link client first or the recalculation can’t be performed. As shown below.
Workflow Templates (In Progress)
Let’s take a look at how the recalculation process happens for Workflows in progress.
Once a workflow has been ‘started’ and as you work through the tasks you may need to go to Xero/QBO to make the relevant updates. Once you make these changes in Xero/QBO these will need to be updated in Precision. The next time you open that workflow in Precision a message will pop up asking if you want to recalculate to update the workflow for these changes.
Clean Up Tools
Checks are available to improve data quality we identify as Cleanup. These can be found by going to Client Overview >Cleanup.
The checks are:
- Bank Reconciliation (Xero Only)
- Unreconciled Transactions (QBO Only)
- Duplicate Contacts (Xero & QBO)
- Multi-Coded Contacts (Xero & QBO)
- Contact Defaults (Xero Only)
- Dormant Accounts (Xero & QBO)
- Duplicate Transactions (Xero & QBO)
These checks have options to change to Reporting Date once you open them to review the transactions. If you do make any changes to the Reporting Date then you will need to Recalculate to see these changes take effect.
The Recalculate button is located on each check at the top right of the page.
Insight Tools
Insights includes checks that allow for deeper analysis of the data in a client account. Once data quality has been improved these tools will become a lot more valuable and provide visibility to help support a client to grow their business. These tools are:
- Historical Changes
- Lock Date History
- Corporation Tax
- Fixed Assets (Xero Only)
- Aged Balances
- Control Accounts
- Activity Stats
- Cost Analysis
- Sales Analysis
- Benchmarking
- Australia Payroll Checks (AUS Only)
- ABN Lookup Integration (AUS Only)
These checks have options to change to Reporting Date once you open them to review the transactions. If you do make any changes to the Reporting Date then you will need to Recalculate to see these changes take effect.
The Recalculate button is located on each check at the top right of the page.
