Financial Statements release notes

July 15, 2025 (Version 25.7.5)

You can now recover deleted dashboards, favourites, and alerts from the new Deleted items tab on your homepage. Deleted items remain available for 45 days before being permanently removed. If a user is deleted, an administrator can recover that user’s items during the same 45-day window.

This new feature gives you more control over your content and removes the need to contact support if you accidentally delete something.

June 13, 2025 (Version 25.05.25)

The release of the Combined streams feature we started rolling out last month is now complete.

May 28, 2025 (Version 25.5.13)

Today we began the process of releasing a new Combined streams feature that allows you to manage streams and scenarios directly within Financial Statements. You should see this change in your site soon. This feature brings the following changes:

• The Current and Budget menus are combined into one Streams menu.

  
• The Budgets option is removed from the Columns menu. You now add budget columns via the new Streams menu.

  
• The Manage budgets feature is replaced with the Manage your streams and scenarios feature, which you access this via the new Streams menu.

  

April 24, 2025 (Version 25.4.10)

We have reduced the size of financial databases and made other enhancements, which has led to an average of 40% performance improvement in build times.

March 28, 2025 (Version 25.3.4)

• You can now update the Balance Sheet Retained Earnings account to which the Profit and Loss transactions are mapped. You can also choose to distribute the P&L transactions across multiple Retained Earnings accounts.

• A new Data Entry permission has been added to Financial Statements section of the Profile tab on the user maintenance form. While this permission doesn’t allow any new functionality yet, it will soon allow you to enter data (such as intercompany journals) directly into Financial Statements. This update is part of upcoming enhancements to make Financial Statements more interactive and flexible. Stay tuned for more details in a future release

March 20, 2025 (Version 25.2.14)

To improve stability in custom layouts, favorites, and dashboards, we’re migrating the names of items (such as budgets, measures and periods) to unique backend IDs.

Most items will migrate as expected and you won't notice any changes. However, some older items might not migrate correctly. If you notice any broken items, try editing and saving them to ensure they update with their new ID.

March 14, 2025 (Version 25.2.14)

We added new color palettes to charts and updated the classic palette. Any existing charts on your dashboards will not change.

January 10, 2025 (Version 24.12.16)

Groups enhancement: We added the account sub-dimension (group) names to the account properties.

December 11, 2024 (Version 24.11.18)

• We made two enhancements to charts:

  • We moved the settings tabs from the left side to the bottom to free up space and pave the way for a new design of the Chart Builder feature.

  • We added a Close button to the top-right of the chart pane to provide a more obvious way to close the pane (you can still close it via the Chart button in the toolbar).

• In the Groups window, we changed the way you filter items in the grid to make it easier for you to find and map items. We removed the Visible mapping filter options from the column header menu and replaced them with a filter below the column header label. When you open the new filter, you get a list of all available items and an additional item called (Unmapped). Like how you filter for blank cells in Microsoft Excel, when you select the (Unmapped) item, you get a list of all unmapped items (empty cells). It also has a search box you can use to filter the list of items by a keyword.

December 11, 2024 (Version 24.11.18) - general news

Homepage enhancements

Now when you apply one or more filters and sort orders to the grid on your homepage, your selections are retained. This means the next time you view your homepage, it'll look exactly as you left it. This effectively lets you set up your homepage to always display only the items you're interested in.

In addition:

• We introduced a Clear filters option to simultaneously clear all the filters you've applied.

• We changed the filtering behavior, so fewer clicks are required to get the results you're looking for. Now if no options are selected, this is equivalent to all options being selected.

• We changed the style of the tab filter buttons above the grid to make them easier to see.

• We now display the description of items in the grid, where available, so you can quickly determine their contents.

New navigation now turned on for all users

In September 2023, we launched a new navigation menu on the left side of Phocas. Recently, we identified that some users were still using the old navigation method, so we migrated them to the new navigation today. If you’re one of those users, you’ll notice the visual difference. The new navigation brings the following benefits:

• Easier movement between the different Phocas products and sections.

• Resource Centre: Easy access to in-product help and news, new user documentation site, and other learning resources. The old navigation pointed to the old user documentation site, which is no longer being updated.

• Upgrades and service request form: Quick way to contact us about making additions to your site.

• Product feedback form: Tell the development team what you like about Phocas.

November 28, 2024 (Version 24.11.5)

• On 03 September, 2024 (Version 24.8.1) we began the process of migrating each organization’s account mapping feature to dimension groups. The first phase, which involved migrating the creation and mapping of account sub-dimensions, is now complete. This means all organizations now perform these sub-dimension tasks in the Groups window. See the previous release note or the Create sub-dimensions for accounts page for more information.

• Now when you add a dimension as a level in a statement, then move into Analytics (by either clicking on a dimension or selecting and focusing on items), when you return to Financial Statements, the level persists in the statement. Previously, the level was forgotten, so you had to add it again.

• Users with the Export permission can now export financial statements directly from a dashboard.

November 13, 2024 (Version 24.10.12)

Now when you add a dimension as a level in a statement, that dimension remains available in the Dimension list, so you can click it to open the data in the Analytics module. Previously this option was not available for dimensions added as levels.

November 5, 2024 - general news

We're delighted to announce two exciting items...

Upgrades and services form

A new form, available in the side navigation in Phocas, makes it easy for you to request upgrades and services from within your Phocas site. Your email address is automatically inserted into the form, and you can select from a list of common requests. For example, you might need additional user licenses or databases, or service work, such as ERP migration or training. If you don't see the request you need, simply select the Other option. Then give us some brief information and submit the form. We'll get back to you within a few days with a quote, and then we can get started on your upgrade or service!

New user documentation site

If you're reading this note, you're looking at our new user documentation site! We've moved our user documentation to this new platform and given it a fresh look with enhanced content display and search functionality, along with an easy-to-remember URL: docs.phocassoftware.com

Please update any bookmarks you have to the old site, which will be retiring soon.

October 1, 2024 (Version 24.9.4)

• We improved the performance of the entity lists in the levels and column groups boxes. When a list contains many entities, these long lists now display more efficiently, and you can select items as expected.

  

• We improved the performance of the grid in the Groups window. When using the activity filter on a group that contains many entities, the filter now works as expected. Also, all items with activity are now displayed by default.

  

• In the side navigation Recents menu, you can now see the 20 most recent items you've opened. Previously, this list only displayed the 10 most recent items.

  

03 September, 2024 (Version 24.8.1)

• We added custom sort order functionality to dimension groups. This allows you to determine the position of each item in the dimension (entity list). The custom sort order is reflected in the financial statement.

• We are in the process of migrating each organization’s account mapping feature to dimension groups. This is a phased migration, so you’ll notice a change in the statement setup window when your organization has been migrated.

  The first phase of the migration is the creation and mapping of account sub-dimensions. You no longer do this in the Accounts tab of the statement setup window. You now do it in the Groups window. Watch the following video or see Create sub-dimensions for accounts to learn how.

This change brings the following benefits:

• Previously, there was a limit of three sub-dimensions per statement. We’ve removed this limit.

• Previously, you had to map accounts statement by statement, but now you do all the mapping in one grid.

• You no longer have to map the Profit & Loss and Balance Sheet sub-dimensions separately, as all accounts are combined into one list. This enhances the analysis available to your Trial Balance and Cash Flow statements.

• You can take advantage of the groups functionality to manage your accounts, such as export to and import from Microsoft Excel to help with the mapping process, clone a statement and filter the mapped and unmapped items in each column (group), and apply a custom sort order to any group.

• Financial statements with one stream (no comparative columns) added as widgets on the dashboard now show the stream name, such as Actuals. Previously, this information was only available when there were multiple streams applied to the statement.

  

• We resolved an issue that occurred when you viewed transactions. The Back button wasn’t working. You can now go back to your previous screen as expected.

• We fixed an issue in the Groups window whereby selecting a group didn't work on the first try, requiring you to repeat the action. This now works the first time as expected.

6 August, 2024 (Version 24.7.5)

We made changes to provide direct access to your financial statements:

• In the Phocas > Financial Statements menu, expand the database to view the list of its statements, then click a statement to open it.

• When a statement is open, routing information is now available within the URL, so you can see the module you’re in (Financial Statements), the database ID, and the statement ID. This change allows you to:

  • Bookmark the statement (save it as a browser link) for quick access next time. Previously, you’d have to create a favorite within Phocas.

  • Copy and share the URL with another user. When they open that link, they’re taken directly to the statement. Previously, the database would open on the default statement, and they'd have to use the Statement menu to open the specific statement.

  • Refresh the browser or reset the statement and stay on the current statement. Previously, if you took either action you were returned to the default statement.

  Open image-20240805-210959.png

July 25, 2024 (Version 24.7.2)

• The Rows menu is now available in Profit and Loss, Balance Sheet, and Cash Flow statements. Previously, this was only available in the Trial Balance statement. Use this menu as an activity filter to determine the rows displayed in the statement (those with activity or without activity.

  
• Related to the above enhancement, the Levels box now references the activity filter. When you filter a level in the statement, you’ll see that the entities in the list correspond to the activity filter, and all entities are selectable. Previously, entities without transaction activity were always displayed in the list.

  

Coming soon: Further enhancements to how you select and manage levels.

July 18, 2024 (Version 24.6.5)

Users with permission to manage custom statements can now undo and redo actions when managing groups.

July 2, 2024 (Version 24.6.5)

• All users can now add up to four levels in a financial statement. Previously, this was limited to three. We also enhanced the behavior of the Levels box to make it easier to drag dimensions into and out of the box and drag dimensions from the Levels box across into the Column groups (matrix) box.

• Users with permission to manage custom statements can now import group data. In the last release, we introduced the ability to export group data. These features work together to allow you to create and edit your group and entity data quickly.