Such great news to welcome you here and assist you on your first steps setting up the Finstack platform! In just 3 steps you are ready to set up your first dashboards.
What you will need beforehand:
The first step required is to connect your accounting software to Finstack, in order to retrieve the transactions needed for reporting. This is done throught Setup > Administrations in the left menu.
Use the plus “Add source” button top right to add a new Administration. Choose the first option “Connect your accounting software” in step 1, and your accounting software in step 2.
<aside> 💡 Find more details on connecting your accounting software in Sources
</aside>
When Finstack is connected to your accounting software, it is time to configure the structure of your financial statements. This is done in Setup > Structure. We have already preloaded a standard structure for your Profit and Loss statement, Balance sheet and Cash flow statement.
You can update this to your liking by (1) adding new classes by the Add button top right or (2) reposition, (3) add or (4) delete existing classes by using the buttons on the class itself.
You can introduce formulas throught the same Add button top right and create basic calculations referring to other classes from the financial statements or KPIs.
Some classes, such as Result, Current Year Earnings and Retained Earnings are reserved by the system. It is not possible to update these, apart from renaming them.
Now we have configured the structure of our reports, we are ready to start mapping the underlying GLAs to the right classes. This is done through Setup > Mapping.
The mapping is done by selecting one or more GLAs on the left hand side, selecting a class on the right hand side and confirming by the Save mapping button top right.
The goal here is to make sure all GLAs are mapped, as this will result in a Zero balance sheet. Use the Unmapped tab or search functionality to navigate quickly through the remaining accounts.
At this point you are ready to invite your first colleagues or external relations into the tool! Use the button “Invite teammates” in the left menu to navigate to the team page. Press the plus “+” button below on the right to invite new users by their email adress and setting the correct role. Please see additional details on access levels using the information icon.
Great job! You have finished the Finstack setup and are ready for the first reports. Navigate to Reporting > Tables to see the first numbers available after the sync with the accounting software has completed. In Reporting > Dashboards you can configure your first charts and get your first visual insights!
Please navigate through other resources in more detail through the Help Pages menu on the left. Always feel free to reach out with other questions using support [at] finstack.io!