Converting Statements to Metrics

Converting Statements to Metrics in Reach Reporting

Converting a statement to a metric in Reach Reporting allows you to transform your traditional financial statements into more flexible, visual representations. This powerful feature enables you to take the structured data from your profit and loss statements, balance sheets, or cash flow statements and present them as customizable charts, graphs, or modified tables.

How to Convert a Statement to a Metric

Step 1: Save the Statement as a template

Navigate to your existing statement in either a report or dashboard and save the statement as a template

Step 2: Add the Statement to a dashboard

Open a dashboard and click “Add Metric” > Templates > select from “My Templates”

Step 3: Unlock the Statement

Once the template is added to the dashboard, edit the statement and Unlock it. Note that unlocking a statement means it won't automatically update with future chart of accounts changes.

Step 4: Convert to Metric

Once in the statement editor, click on the gear icon next to the title of the Statement. Click “Convert to Standard Metric” and “Yes, convert statement” to begin the conversion process.

Step 5: Choose Your Metric Type

After conversion, you can scroll down to the preview, where you can select from various visualization options:

• Table format (similar to original statement)
• Column charts
• Bar charts
• Line charts
• Pie charts

Step 6: Customize Your Metric

Use the additional settings to customize colors, formatting, titles, and other visual elements to match your reporting needs. You can toggle between hiding and unhiding data points by using the eye icon next to the rows.

Benefits of Converting Statements to Metrics

Enhanced Visualization Options

Metrics offer multiple chart types that can make financial data more digestible and impactful for stakeholders. Transform a traditional P&L into a compelling column chart or convert balance sheet data into visual comparisons.

Flexible Formatting

Unlike statements, metrics provide extensive customization options, including:

• Multiple chart types within one metric
• Stacked charts for detailed analysis
• Goal lines and target indicators
• Custom axes and formatting

Improved Presentation

Metrics can be resized and positioned more flexibly within reports and dashboards, allowing for better page layouts and more engaging presentations. In a report, you are unable to add items to a Statement. If you add a metric to a page of the report, you can then add images to the same page or text boxes for commentary.

Interactive Dashboard Features

When used in dashboards, metrics provide interactive capabilities such as hover effects, filtering options, and dynamic updates that statements cannot offer.

Use Cases for Statement to Metric Conversion

Executive Dashboards

Convert key financial statements into visually appealing charts for C-suite presentations. A profit and loss statement becomes a compelling column chart showing revenue trends and expense categories.

Client Presentations

Transform complex financial statements into client-friendly visualizations. Convert a balance sheet into pie charts showing asset allocation or liability distribution.

Trend Analysis

Use converted metrics to highlight financial trends over time. A cash flow statement converted to a line chart can effectively show cash position changes throughout the year.

Budget vs. Actual Reporting

Convert budget statements to metrics that can display actual vs. budget comparisons in visually striking formats, making variances immediately apparent.

Department or Class Reporting

Transform statements filtered by department or class into metrics that can be easily compared side-by-side or stacked for comprehensive analysis.

KPI Scorecards

Extract key metrics from financial statements and convert them into focused KPI displays that highlight the most important performance indicators.

Important Considerations

Start with a Metric

While converting a statement to a metric is possible as outlined, starting with a metric is the recommended way to build what you need. Check out this Knowledge Center article for more on Building Metrics and Statements with Reach Reporting.

Performance Considerations

Metrics may perform differently than statements, especially when dealing with large datasets. Monitor performance and adjust visualization complexity as needed.

 

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