Observation Tolerance

Introduction

Our new Observation Tolerance feature has been introduced to reduce unnecessary manual work when reviewing data imported from accounting softwares. This feature allows users to set acceptable variance limits for small discrepancies, such as rounding differences in market values or incomes. Observations within the tolerance range will now automatically move to the Good To Go section, eliminating the need to approve minor discrepancies.  

Observation Tolerance Limit Application

You can set the Observation Tolerance Limit for the following observations:

1. Income Comparison - Compares the income received from the listed investments with the income announcement data.
1. The Tolerance Limit applies to:
   
1. The difference of Total Income and Estimated Income.
   
2. The difference of Franking Credit and Estimated Franking Credit.
2. Market Value - Compares the market price of listed investments recorded in accounting software with ASX and IRESS.
1. The Tolerance Limit applies to:
   
1. Difference of Market Price and Source Price.
   

How to Set Observation Tolerance Limit

To set Tolerance Limit for Income Comparison and Market Value Observation, follow the steps given below.

Step 1: Click on Admin > Observation Tolerance.

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Step 2: Add the Amount as Tolerance Limit for Income Comparison Observation.

Step 3: For Market Value Observation, you can either set the limit by Amount or Percentage.

Note: The tolerance limit can be set as a single digit, regardless of whether it is based on amount or percentage.

Step 4: Once done, click on Save.

Step 5: You will receive a confirmation toast message to confirm your action.

You can use the above method to change the Tolerance Limit as and when required. Once you have added or changed the Tolerance Limit, Last update by, Date and Time will be displayed alongside the Save button.

To learn more about the process , explore best practices, and make the most of our features, please visit our Knowledge Base. You can also check our FAQ section for answers to common questions, or contact our Support team if you need any assistance.

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