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Editing the Client Interview
- February 8, 2020
- Posted by: RCR Admin Team
- Category:
Reports are editable for up to 30 days and will display as a Draft. After 30 days the report will automatically lock and the draft watermark will disappear. Use the Lock Report function if you need to finalize and lock a report before the 30 day edit period is up. Locking a report is final and cannot be undone.
- Select the client you wish to edit a report for from the Clients tab. After the client’s profile opens locate the report you would like to edit, click on the options drop down to the right of the report and select Edit Interview for Cost Approach reports or Edit Report Parameters for Market and Income Approach reports.
The process for editing reports will vary slightly depending on the approach used.
The Cost Approach: Just as in the initial interview, edits will take place in a new tab in your browser. To edit the interview, revisit the sections requiring changes.
- IMPORTANT: Make sure you proceed through each subsequent step after a change in order. Making a change in one step may require a change in a following step. Proceed, in order, all the way through Wrap It Up to check for errors and save changes.
The Market Approach: Just as in the initial interview, edits will take place in your dashboard.
- To edit Industry, Year, Occupation or Location select the Basic Criteria tab.
- To edit Number of Employees, Adjusted Gross Profit, Business Performance, Owner Experience or Time dedicated to the Business select the Business Criteria tab.
- To save your changes select Save Updated Values.
The Income Approach: Just as in the initial interview, edits will take place in your dashboard.
- Make any needed edits and select Calculate.
- To save your changes click Save Updated Values.
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Step Three: Completing the Interview
- February 8, 2020
- Posted by: RCR Admin Team
- Category:
After selecting the report type and approach RCReports will gather required information to produce the report. The method RCReports uses to gather this information will vary slightly depending on the approach selected.
The Cost Approach: AKA the many hats approach gathers a lot from information on the varied tasks performed by the business owner. Because of this the interview can be completed by you or your client.
- Select the Tax Year for the report.
- Premium Subscribers have the option to display or suppress results to the client upon completion of the online interview.
- Select weather or not you want to be notified when your client completes the online interview.
- Select Initiate Report
- After selecting the timeframe of the report, you can open the interview and enter the information on your client’s behalf.
- To make gathering the required information as simple as possible you can download a Paper Version of the online interview and have your client fill it out.
- OR send an email invitation to your client and they can complete the online interview when it’s convenient for them.
- Choose to send your client the email invitation using the RCReports automated email [you can copy yourself]
- Or copy the URL to your clipboard and paste it into your own email editor for a more custom look.
When completing the interview from your dashboard, the interview will open in a new tab in your browser.
Please Note: The online interview is branded with your firm’s information and the URL is masked. If your client completes the online interview they will not be able to connect it to RCReports.com.
The online interview is simple and easy to complete. If you gather the information from your client in advance, it should take you less than five minutes to input the information. If your clients complete the online interview on their own it will typically take them about 15 to 20 minutes.
The Market Approach: AKA the industry standard approach is a short interview and only requires about 10 inputs. Because of this the interview will open in your RCReports dashboard [There is no option to have your client input this data] To make gathering the required information as simple as possible you can download a paper version of the interview from the Resource Library located in the Tools tab and have your client fill it out.
- The Market approach interview is split into two tabs: Basic Criteria and Business Criteria
- Basic Criteria: Select the timeframe, industry, occupation and location.
- Business Criteria: Select the inputs specific to your client and their business.
- Select Convert to Report and Save
The Income Approach: AKA the independent investors test is a short interview and only requires 4 inputs. Because of this the interview will open in your RCReports dashboard. [There is no option to have your client input this data] To make gathering the required information as simple as possible you can download a paper version of the interview from the Resource Library located in the Tools tab and have your client fill it out.
- Select the timeframe and input the other required information.
- Select Convert to Report and Save
NEXT Go To Editing the Interview
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Step Two: Choosing and Initiating a Report
- February 8, 2020
- Posted by: RCR Admin Team
- Category:
After creating a Client Profile, you are ready to select the report Purpose and Approach.
- Select the client you wish to run a report for from the Clients tab, and then click Initiate Report.
- Report options will drop open. For more information on the purpose of each report hover over the Learn More… icon.
- After selecting the report type, select the approach you would like to use for the report.
- For more information on each approach and help selecting the appropriate approach for your client, hover over the Learn More… icon. (The three approaches are outlined in the IRS job aid on Reasonable Compensation).
The next steps will vary slightly depending on the approach you selected.
NEXT Go To Step Three: Completing the Interview
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Step One: Adding Your First Client
- February 7, 2020
- Posted by: RCR Admin Team
- Category:
Adding Your First Client is the first step to producing a report. We suggest starting with a test client such as Jane Doe. Investing a few minutes experimenting with Jane and familiarizing yourself with how RCReports works will pay big dividends when you begin using RCReports with your clients.
- Begin by clicking on the Clients tab on the left hand side of your dashboard.
- Next select New Client in the top right.
- The four fields below are the only required fields; however, you can send emails to your client straight from your dashboard if you choose to include their email address. We suggest entering your email address so you can see what these emails look like.
- Once you select Add Client Profile, their client profile will open and you are ready to run your first report.
NEXT Go To Step Two: Choosing and initiating a report
