Qvinci’s application is a powerful reporting add-on tool for your accounting software. Qvinci automatically pulls P&L and Balance Sheet line items into our platform for complete visibility into your organization or client’s finances. Users can choose between consolidated or side-by-side viewing of reports. For accountants, financial data across multiple clients is accessible through a single interface. NOTE: Qvinci does not pull transaction data.
The Qvinci application is organized into a hierarchy with three levels: Accounts, Companies and Locations. Accounts are at the top of the hierarchy. Individual accounting files are tied to Locations.
Accounts: Accounts have one administrator and can contain one or more Companies. Most of our customers can accomplish their reporting goals within a single Qvinci Account.
Companies: Companies provide a means for organizing individual accounting files for consolidation and reporting. The number of Companies inside of an Account is determined by the structure of your organization and whether or not you need to consolidate files. Files within the same Company can be consolidated while files in different Companies cannot.
Locations: Individual accounting files are linked to Locations. There is a one-to-one relationship between a Location and an individual accounting file meaning one file links to one Location. Anytime you want to add a file to Qvinci you have to attach it to an established Location. This allows the administrator to create a reporting structure in advance of linking files. Also, you can give a Location a name that is different from the file name. That name may be a store number, city or the name of a client. NOTE: In Qvinci, a QuickBooks Class would be considered an individual accounting file for the purposes of syncing and reporting.
The implementation and operation of Qvinci is a simple, straightforward process.
- Set up a Qvinci Account. There is one Administrator for each Account. An Account can contain multiple Companies and up to 10,000 individual Locations.
- Add Companies to the Account. See below for sample Account structures, by industry.
- Create Locations inside each Company. You will need one Location for each accounting file you will be syncing into the system.
- Link & sync accounting files (or classes) to Locations. QuickBooks Online and Xero files use our API and do not require file contributors to download our Sync App. Desktop versions of QuickBooks and MYOB files require the use of our Sync App. File linking takes less than five minutes including installing the Sync App.
- Map Accounts to a Standard Chart of Accounts. This is done once. Because account names are mapped dynamically at the time of syncing, everyone in your system can continue to use their preferred or native account names. Reports can be viewed with either native or standard account names.
- Automatically or manually sync files. Once setup is complete, files linked through the Sync App are automatically synced once per day, the first time the file is opened each day. QuickBooks Online and Xero files sync every day at 2am CST. Files can also be manually synced at any time throughout the day. The command to automatically sync the file resides in the file itself so automated syncing will occur even if the file is moved or renamed.
- Set up your dashboard and build reports. The Qvinci dashboard and reporting tools are available 24/7 via any web browser and will always have the latest synced data. Administrators can view the Sync Activity Report to see when the last time each file was synced. Reports can be exported to Excel.