A typical user with 50-100 files is up and running within four hours. Large clients syncing thousands of files can be fully implemented within 48 hours.
No. The power of Qvinci lies in its ability to consolidate financials even if each contributor uses their own account names and line items. Qvinci’s patented account mapping functionality allows administrators to map line items to a standard form for consolidated reporting while still maintaining files in their native form. Reports in Qvinci can be viewed either with the Standard Chart of Accounts or with the native account names and line items.
Qvinci supports multi-currency conversions for QuickBooks Desktop and utilizes XE for conversion rates.
Yes. The administrator can hide the benchmarking capabilities from users at any level while still being able to use the feature at headquarters.
Qvinci allows users to compare themselves to similar entities within their organization. Benchmarking filters can be financial or non-financial allowing for apples-to-apples comparisons. For example, individual locations are able to see how they stack up against the top 10 percent of performers in their system on a line item basis. This feature has been developed to maintain user anonymity. If a user sets filters such that fewer than 15 other locations fall into the group, no results will be returned. This prevents users from “backing into” someone else’s financials.
Yes. Organizations with area, regional or business unit managers can set up Qvinci so a manager can only see their set of companies or locations.
Once a QuickBooks Online or Xero file is linked, no user interaction is required as the data will sync automatically every day at 2am. Once a QuickBooks Desktop or MYOB file is linked, no user interaction is required. A daily background sync keeps financial data up to date with a sync occurring once-daily when the user opens the data file. In both of these scenarios, a user can also manually sync at any time. A location using Excel must manually update the financials and sync whenever a data refresh is required.
Our clients handle objections from individual locations in different ways. Some fall back on their legal agreement and require all their locations to use Qvinci for automatic syncing. Others allow locations to sync an Excel file rather than syncing their QuickBooks (or Xero, etc.) file directly. This solution works well with locations that are hesitant to have the head office exposed to their financial records automatically. Finally, Qvinci is valuable even if some locations are not automatically syncing so some clients opt to deploy Qvinci at a subset of locations e.g. 49 out of 50 sites.
Access to files is restricted. When a user (e.g. franchise location) logs into their dashboard, they can only see account-level, non-fraud sensitive data. It is not possible for a user to view another user’s financial data without the administrator granting permission and access.
The reports and the dashboard are always populated with the latest sync data. Consolidation reports can be run at any time, multiple times per day.
Synced data is reported on the dashboard immediately. It is as fresh as the last sync. The last sync date is displayed for each file. At any time, a location can manually sync to update their information.
QuickBooks Online, Xero and other files not using the Sync App are automatically synced at 2am CST every day. Additional manual syncs can be performed throughout the day. With the Sync App, files from each location are synced automatically when a file is opened. If a file is left open (minimized) all night, when the date changes, the automatic sync is triggered for the new day. Files can be synced manually at any time or on a user-defined schedule. Excel files are always synced manually and can be synced as often as desired, even multiple times per hour.
For QuickBooks Online, Xero and other similar financial files, the files are linked and then synced automatically from within the Qvinci dashboard. Once the file is linked to the account, the user no longer needs to actively engage in the syncing process. For QuickBooks Desktop and MYOB, a Sync App is downloaded to each computer where a QuickBooks or MYOB file is used. The Sync App continuously runs in the background and once a day, when the file is first opened, the file syncs automatically. Once the Sync App is installed and the file is linked, the user does not need to actively engage the syncing process. NOTE: The Sync App is linked to the file and not the file’s location so if someone changes the file name or moves the file to another computer, as long as the Sync App is running, the file will sync. For Excel files, the sync is always manual.