Everyone has an experience logging onto Ambrook for the first time, and for financial professionals that often means coming from another system, whether it’s QuickBooks (QB), Xero, or any other bookkeeping & accounting platform.
While there are many things unique to Ambrook, this guide aims to provide a glossary of the key terms and concepts that financial professionals need, with details about where these concepts are on the Ambrook platform and how to engage with them:
General Concept | In Ambrook |
Chart of Accounts | Ambrook splits out the chart of accounts into two distinct parts:
|
Bank Feed | All transactions synced from banks or credit cards appear in the Ledger tab, alongside any manually created transactions. The Ledger can easily be filtered to any specific account if that’s the preferred method of reviewing transactions.
By default, all synced transactions are recorded to the books in Ambrook as uncategorized income or expense. The system can be set to “manual” accounting mode, which requires transactions to be reviewed before getting recorded. In manual accounting mode, you can filter to non-recorded transactions using the “Review” button on the top-left of the Ledger. |
Account Register | To review activity in a specific account or tag, we recommend using the filter on the Ledger to isolate an account and a specific date range.
A subledger for an account can also be accessed from the balance sheet, by clicking on the amount showing for an account in a particular month. This will display a running balance on the account, and tags can also be edited from the subledger page. |
Classes & Locations | Ambrook’s notion of enterprise tags are similar to class tags in QuickBooks, however, unlike with QB, they can be applied onto journal entry line items in addition to transactions. Locations in Ambrook are similar to QB, but can also be applied to both transactions and journal entry lines.
A unique aspect of the enterprises & locations in Ambrook is that they can have metrics applied to them, which you can learn more about here.
Both enterprises and locations can be managed from their respective pages in the Settings menu. |
Projects & Jobs | Ambrook has customizable project and funding tags, which can be used similarly to projects & jobs in QB. They can both be configured from their respective tabs in the settings menu. These tag types can be configured with practice and program codes to help track income and expense at a more granular level. |
Vendors & Customers | Ambrook groups vendors and customers into a unified contacts list, which can be managed from the contacts page in the settings menu.
In Ambrook, any single contact can be both a customer and a vendor without needing a duplicate record. Key contact information such as addresses or tax forms can be stored on a contact. |
Bills & Invoices | In Ambrook, Bills and Invoices have their own sections in the app, on the left-hand navigation bar, as opposed to being nested within Sales & Expenses.
Bills or invoices can be created, searched through, matched to, or paid (only for bills) directly from these pages. |
Reports | Ambrook has the Profit & Loss and Balance Sheet statements that you can access from the Accounting tab. For other reports such as General Ledger, Detailed P&L, and Invoice Aging - to name a few - those can be accessed in a spreadsheet format from the Exports page.
The button to get to exports can be found in either the settings menu or the top-right corner of the Accounting page. |
Memorized Transactions or Rules | These are called automations in Ambrook. They can be set up after any transaction is tagged, or managed from the automations page in the settings menu. |
Undeposited Funds | Ambrook does not have an auto-created Undeposited Funds account, but instead has a number of specific, related system accounts including:
|