Smartbooks is designed for organizations that want to professionally report, consolidate, analyze, and budget. To quickly and efficiently set up Smartbooks, we follow these steps:
1. Connect & Kick-off
Establishing a connection to the general ledger is done via a connection menu in Smartbooks, typically taking less than 5 minutes. Multiple entities can be connected at once. New customers can set up this connection independently, and the Smartbooks helpdesk receives a notification when the connection is established.
Once the connection has been established, a kick-off meeting is scheduled to discuss reporting, consolidation, and budgeting needs so that we can tailor the implementation steps accordingly.
2. Report Setup
The Smartbooks support team sets up reports for the balance sheet, profit & loss, and cash flow. Additionally, KPIs (such as FTEs or other operational data) are configured.
3. Consolidation Setup
If multiple entities are involved, the consolidation structure is set up, including sub-consolidations and foreign currency conversions if needed. Group-level reports are also set up for the balance sheet, profit & loss, and cash flow.
4. Budget Setup
When setting up the budgeting module, we differentiate between top-down and bottom-up budgeting. There’s also a distinction between budgeting for profit & loss, the balance sheet, and cash flow.
A top-down budget is based on the general ledger chart, allowing budgeting at various account or subtotal levels, with room for formulas and seasonal effects.
A bottom-up budget is based on your business model, where revenue and expenses are planned in detail, considering income, expenses, investments, financing, and expected cash flows.
5. Fine-Tuning & Training
The last step is to finalize and adjust the setup after users have tested Smartbooks. Users also receive training, covering how to customize reports, charts, and budgeting models.
6. Support
During the implementation but also afterwards, the support team is available via email and web calls to answer questions, make adjustments, or solve any issues.
A straightforward implementation can be completed within half a day. A more complex setup with multiple entities and budget models might take several days, but the process is always finished within a week.