Getting Started: Flux Analysis

Last updated: October 22, 2024

Flux analysis is a great way to track variances on your Balance Sheet and Income Statement period across periods.

Viewing Flux Reports

Head into the Flux page within any Close Period to immediately see reports relevant for the current period you're in. MoM, QoQ, and YoY reports will appear here automatically based on your fiscal year. QoQ and YoY reports only appear in Q-end and Y-end periods.

Clicking into a report, you'll see an actuals to actuals comparison across your financial statements, and can add assignees and define variance thresholds to flag when explanations are required across your accounts.

Setting up Flux for the first time

Adopting a new variance analysis workflow can be completed in just a three steps! We recommend:

  1. Assigning a responsible party for each row on each of your flux reports

    1. Hover over each row and add preparers and optional reviewers

  2. Setting materiality thresholds on each report

    1. Click the 3-dot menu in the top right and choose Manage Thresholds

      1. Here you can set unique Thresholds for each report, by-entity

  3. Filter your Checklist to only show accounts that require explanations

    1. Click the View -> uncheck "No Explanation Required"

Note: As with Reconcile, adding assignees on a flux analysis report will automatically set the defined users as assignees each month. But only accounts that cross the Materiality Threshold will appear as tasks that need to be completed and contribute to your close progress calculations.

Creating New Flux Reports

Looking to add a new report? Reach out via support chat or via your dedicated Slack channel to quickly enable new reports for specific entities or, consolidated reports, and more!