Staff Writer AccountingWEB
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Tech Lowdown: Practice Ignition, Bokio and Fathom

This week, our tech round-up features a new video feature from Practice Ignition, new entering balance options from Bokio, and a range of updates from Fathom.

29th Jan 2020
Staff Writer AccountingWEB
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Practice Ignition video embed option

Top of the Tech Lowdown charts is Practice Ignition’s release of a video embed option within client proposals, which was announced earlier this week.

Following the addition of brochure attachments to proposals, this Practice Ignition has released support for video attachments to be included in the client engagement tool. 

The feature means users on professional or scale plans will be able to add videos from Loom, YouTube, and Vimeo directly into the document, which will start playing when the proposal is opened.

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Bokio’s new features for entering opening balances

Swedish accounting software Bokio has recently announced new functions to make entering opening balances simpler and more streamlined.

Bokio’s opening balances allows users to move balances from different accounting software, or recent year-end accounts, and populate them into Bokio, ready for use. The new features remove the manual tasks of choosing accounts to allocate balances to, providing a drop-down menu instead for users to select the account to add the balance for. 

The new function includes balance sheet validation which ensures that imported opening balanced are balanced with the balance sheet.

The opening balance entry can now be mapped against set trade creditors and debtors that have outstanding invoices from previous years. Outstanding invoices at year-end can now also be mapped against the balance in accounts payable and accounts receivable. This is done by setting money owed or owing, which are then counted down as invoices are imported.

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Multiple updates from Fathom

Cloud reporting app Fathom’s custom exchange rate editor means users can now override Fathom’s default exchange rates with custom exchange rates, and can be uploaded from Excel using downloadable templates. Fathom users now also have easy access to default rates applied across each selected currencies for all periods.

Applicable exchange rates for previous months and periods can now be edited within the app, and rates can be set for up to two years beyond current financial data range, allowing projected rates for future periods to be specified.

Specific rates can now be locked in for a relevant currency across all periods, or for a custom date range. Fathom currency support has also been updated to include 97 currencies.

Additionally, the app has added the function to include a table of contents to the beginning of PDFs or printed reports. The recent drag and drop report builder has also been updated with the option to select and rearrange multiple components.

In the analysis area, line, bar and area charts are now all interchangeable. Deep-links to specific tools have also been added, allowing the custom configuration and bookmarking of analysis tools like KPI explorer, showing off-track KPIS, sorted by importance.

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