Reporting: Lucanet.Excel-Add-in versus Lucanet.Excel-Reporting

Virtually every Lucanet user presents (consolidated) data in Excel. Some do this via a simple export, but most users choose one of two more advanced methods: the Lucanet.Excel Add-in (also known as the LN.Value formula) or Lucanet.Excel Reporting (using the ~ symbol).

Both methods have their own characteristics, advantages, and limitations. In this blog article, we list the main differences and give advice on when to use which method.

The Lucanet.Excel Add-in

The Lucanet.Excel Add-in makes it possible to retrieve figures from Lucanet directly in Excel using a recognizable formula. You simply specify the different dimensions that make up a figure — such as account, period, and company/cost center — and the corresponding value automatically appears in your worksheet.

This method is intuitive and user-friendly. However, it does require proper setup. For optimal maintainability, it is advisable to manage variables and parameters centrally, for example on a separate tab. Also keep in mind that everyone using the report must have access to Lucanet.

Reporting-Add-in

Lucanet.Excel Reporting

This method clearly distinguishes between the template and the final report that you generate from it. In the template, you use “~” formulas to indicate which data you want to retrieve from Lucanet. This allows you to vary not only values, but also periods, organizational elements, and other dimensions.

In addition, functions such as ~fillrows and ~fillcolumns allow you to automatically populate rows and columns in Excel — for example with all accounts under a specific position.

The report is then generated directly from the Lucanet database. You start by specifying your variables. During this process, all retrieved data is entered into the report as fixed values, making it easy to share with others — without them needing a direct connection to Lucanet.

Reporting-Tilde

Please note: in the template, Excel interprets the “~” formulas as text, which makes building the report slightly less intuitive than working with regular Excel formulas. If you cannot find the “~” symbol on your keyboard, it is most likely located just below your Esc key, in the top-left corner.

Reporting-Tilde-Example

Comparison: Lucanet.Excel Add-in vs. Excel Reporting

Subject	Lucanet.Excel Add-in	Lucanet.Excel Reporting
Retrieving values	Works with =LN.Value, comparable to a normal Excel formula. Very user-friendly and directly visible.	Uses ~value, which is displayed as text in Excel. You must first generate the report to see the result, which is less intuitive.
Populating data	It is not possible to automatically populate rows/columns (such as accounts or cost centers).	Very suitable for automatic population with ~fillrows or ~fillcolumns, which is useful for larger datasets.
Applying formatting	Works like a normal Excel file. You can adjust the formatting directly.	Because you work with a template and only see data after generation, adjusting formatting is less intuitive.
Budget/Forecast templates	Less suitable, because retrieved figures must be overwritten. Every user must have access to Lucanet.	Very suitable: templates are reusable, users do not need access to Lucanet, and data can be written back.
Maintainability	Easy to learn. Reports can be stored locally, which can lead to multiple versions of the same report.	Templates are stored centrally in Lucanet, which provides more control and version management.
Performance	The Excel add-in is limited to 500,000 records.	In principle unlimited. However, with large amounts of data and use of fill functions, generating reports may take several minutes.

Which method should you choose?

Use the Lucanet.Excel Add-in when you:

Want to create flexible and dynamic reports in Excel.
Work in a small organization where only a few users create reports.
Want to retrieve current data directly from Lucanet, for example for year-end reporting.

Use Lucanet.Excel Reporting when you:

Want standard reports with a uniform layout across the organization.
Need reports with a lot of detail (for example broken down by accounts or many cost centers).
Create templates for Budget or Forecast where data must both be retrieved and written back.

Bonus Tip: Combine the best of both worlds

In some situations, a hybrid approach is ideal: use Lucanet.Excel Reporting to create the basic structure and data population, and the Excel Add-in to add extra dynamic analyses or validation. This offers both flexibility and control.

And one final bonus tip: would you like to know more about how to make optimal use of Excel in combination with Lucanet? And would you like to receive a number of sample reports? Then contact Arithma Consulting today — the implementation partner for Lucanet in the Benelux!

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