New Features and Bug Fixes
Allocated Profitability Model
FI Works now includes two profitability models: Marginal Profitability & Allocated Profitabily. The Marginal Profitability model calculates the marginal profitability of each account daily using basic cost allocations and single-pool funds transfer pricing.
The new Allocated Profitability model uses data from your general ledger to allocate income and expenses to each account on a monthly basis. You can set up individual allocation rules to spread income and expense accounts from your income statement to calculate account profitability that matches back to you income statement.
Insider Profiles
In previous releases, accounts related to insiders where hidden in the customer profile when the user does not have the View Insiders permission. When an account was related in any way to an insider, the account would be hidden on all profiles. For example, if an insider has a non-owner relationship to an account owned by a non-insider, that account would be hidden on all profiles.
This behavior has been changed in this release. Accounts will only be hidden when the account is owned by an insider.
Improved Consolidation
FI Works merges duplicate customer records based on similar names, addresses, and tax IDs. In some cases, an address that is invalid would prevent consolidation from happening. Address processing was changed in this release to improve matching of potential duplicates.
Invalid Addresses in Profiles
FI Works cleans and standardizes address information to USPS standards. If an address for a customer is invalid, it was replaced by "Unavailable" on the customer profile page. These addresses are now visible on the customer profile along with the address validation status.