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Updating Prior Year Rates in Catalyst

Tom S
Updated

In this article, you'll learn how to efficiently handle prior year rates, whether individually or in bulk. These rates play a pivotal role as they directly impact profitability accounts within the profitability cube and their corresponding financial accounts on the Profit and Loss (P&L) statement. Whether you're updating rates for Discounts, Trade, and Freight revenue or other crucial profitability accounts, this guide provides you with the insights and steps needed to navigate the process seamlessly.



This article contains the following topics:

Step-by-Step Instructions

Follow these step by step instructions to apply rates to prior years in Catalyst: 

  1. Access Profitability Rates:

    • Log in to Catalyst.
    • Navigate to Administration > Manage Actuals > Profitability Rates.

  2. Select Profitability Accounts and Set Filters:

    • Strategically choose the profitability accounts you want to update rates for, recognizing their substantial impact on the financial cube. Additionally, narrow your dataset by selecting additional filters. 

  3. Export Data to Excel:

    • Once the dataset is refined, click on the export option to download the data in Excel format.

  4. Update Rates in Excel:

    • Open the exported Excel file.
    • Locate the relevant columns for rates and adeptly update the values as needed.

  5. Re-upload to Catalyst:

    • Save the Excel file with the updated rates.

    • Re-upload the file to Catalyst using one of the following methods:

      • Utilize the EBM Officebridge Ribbon in Excel.

      • Navigate back to Administration > Manage Actuals > Profitability Rates and use the upload option.

  6. You're done!

    • By completing the above steps, you've successfully updated prior year rates for profitability accounts in Catalyst. Recognize the ripple effect these adjustments can have on the financial cube, enhancing its accuracy and aligning with strategic financial goals.

FAQ

Here are some commonly asked questions and answers related to these configurations:

Can I edit these rates right on my website?

Yes, you can. After selecting your dataset and clicking apply, you'll see your results. In the results output, each line will have the option to edit the rate right there. Simply click the three-dot ellipsis menu, and you'll have the ability to make the necessary adjustments directly on your website.

Can I update rates for specific periods only?

Yes, you can use the filter selection during the export process to narrow down the dataset to specific periods.

What if I face issues during the upload process?

If you encounter any challenges, refer to our support resources or reach out to our support team for expert financial guidance.

Is there an alternative method for uploading the Excel file to Catalyst?

Certainly! Utilize either the EBM Officebridge Ribbon in Excel or navigate to the same page in Catalyst from which you exported the data to re-upload the file.




Can I edit rates for the financial cube too?

Yes, you can edit rates for the financial cube, including pivotal profitability accounts impacting the income statement, by following the same process outlined above. Some key accounts include:

  • Sales Revenue

  • Interest Income

  • Fee Income

  • Cost of Goods Sold (COGS)

  • Operating Expenses

  • Interest Expenses

  • Depreciation and Amortization

  • Income Tax Expenses

  • Gain on Sale of Assets

  • Loss on Impairment

 

Editing rates for these accounts ensures accurate reflection of financial performance in the income statement. If you have further questions or encounter any challenges, our support team is ready to assist you. 

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