Purpose of Uploading Financials into Decipher
For use when clients don't connect their accounting systems directly with Decipher. Clients can submit balance sheet and profit & loss statements as attachments which you can upload into the Financials area so that Decipher automatically spreads them. Follow the Steps below to Upload & Spread the Balance Sheet. Uploading Profit & Loss functions the same way.
Benefits:
💥 Decipher uses Optical Character Recognition to read the file and bring in the categories and amounts so the data can be spreads quickly.
💥 Once you map the categories and upload the file, Decipher will remember those categories for that client reducing manual work in any future uploads and you will not need to separately analyze the financials.
💥 The financials will be spread and displayed for you to see each time you view the client which reduces having to open up individual files and saves you time.
💡💡 Tip: It helps to have the File Open so you can refer to it during the Upload. Locate and open it then proceed to the steps below.
➡️ Step 1: Navigate to the Financials Tab for the desired client. The location of this tab may vary on your application.
Step 2: Click on Balance Sheet
Step 3: Navigate to the blue Menu button Next to "Get Report". Click Upload.
Step 4: Select one of the Choices.
Documents = Select from one of the documents submitted by the Applicant during the process of applying. The file is stored in Decipher as part of the client's information.
Upload File = Select a file from your computer.
Data Entry = Manually enter the information yourself (manual data entry)
Step 5: If you click on Documents, choose the correct file from the files displayed. If not visible under Balance Sheet, select "All Documents" to see the list and select the Balance Sheet. Click Next.
Step 6: Select/Fill in the Information and click Next.
Header Row: Type in a "1" usually the default place for Decipher to locate the start of data in a spreadsheet.
Worksheet Name: Select the correct worksheet. The excel file may have multiple sheets.
Period Type: Select Monthly, Quarterly or Yearly.
Oldest Year: Indicate the oldest year in the financials.
Step 7: The Mapping screen appears for you to begin the process of matching the correct categories. Follow the Steps Below.
Indicate the Year of the Data in each Column. In this example, 2019 is selected. As soon as the year is selected, the data will display in the upper right corner of the screen.
2. Click Is Total. Once Is Total is selected, scroll down through the categories that are totals and Click to mark the appropriate ones as "Totals" so these amounts aren't added. As you proceed marking totals, each row marked as a total will become grayed out. Proceed through the spreadsheet. When done, Click Is Total to deselect.
3. Click on Ignore Row. Use this button to go through the spreadsheet and mark Titles of categories that are present in the spreadsheet so these categories aren't spread in the financials and are ignored. Example: 3 Titles shown below are marked to ignore. When done, Click Ignore Row to deselect.
4. Select other categories to Match such as Net Income, Assets, Expenses, etc. and continue matching until all categories are matched and the Difference on the upper right corner shows a $0.00 in Blue. At this point, the data is balanced and can be uploaded. Proceed to Upload.
💥 Important: If the data is not balancing, check the original spreadsheet to see if there are any parentheses denoting negative numbers. If so, you will need to manually click into those amounts and add a minus "-" to designate each as a negative amount. Example:
💡 Note: At times, clients will provide Balance Sheet statements that do not balance. It's possible to discover this during the upload process. In this case, you will not be able to upload the balance sheet. Statements must balance for them to be spread in Decipher. If you run into any trouble or have questions, please contact our support team.