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New! Check out the
FRx Tips, Tricks, & News Blog at
FRxBUZZ |
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| “I want it all, and I would
like it delivered.” |
| — Bette Midler |
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12 Tips for More Effective Use of
FRx
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Many companies who install FRx don't make full use of its
capabilities. There just aren't enough hours in the day! Here
are 12 ways to get more mileage out of FRx.
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- Set up a link to Excel to pull statistical data into FRx
financials. How? The simplest way is to doubleclick column H
'Link to GL' in the row, change the link to 'GL+Worksheet',
and specify the Excel filename. But be aware there's another
way, one that's used when the units in your tree all need to
read a separate file. Use the 'separate worksheet link' method
in this case. My favorite way to do any of this, though, is to
stick the statistical data in the GL. Saves lots of headaches!
- Generate several reports with one click using chaining,
being careful of the 4 inherent traps: watch your report date,
making sure it's the same for all reports. Watch the detail
level: if it's financial and account and you're sending
everything straight to the printer, you're likely to get reams
of paper you don't want. Watch the output type (printer,
drilldown viewer, excel, etc) and make sure it's consistent
for each report. Finally, for any reports with trees, set the
tree options (Catalog> Report Options> Tree Options) so that
the reports process without human intervention. Or for a
better way, check out the Report Manager, an optional module
in 6.7, which allows the creation of report books containing
Excel, Word, Crystal, and FRx reports.
- Email top level reports with detail available in
drilldown: Set the Detail Level in the Catalog to Financial &
Account. Get the report perfected, and only then go to Output
Options> Email Options and enable email, set your recipients,
and generate. How to avoid a 'gotcha': be sure to uncheck this
for future use, or you'll send all your recipients unintended
copies. Your recipients must have Drilldown Viewer licenses,
and when they open the file, they'll be able to drilldown and
see the detail behind a total.
- Create a cash flow statement. This one is always hard for
those new to FRx, but it's actually not too bad (when you do
them day in day out). Couple tips: you'll end up using some
advanced column placement, and because of this, be sure to
check this radio button in the catalog: Report Options>
Advanced> Calculate columns first. And your YTD column will
pull the YTD change, not the YTD balance.
- Use drilldown capability to analyze GL transactions. Your
column layout will need both a CUR and a YTD column. Set the
detail level in the catalog to Financial & Transaction.
Generate the report to the DDV and drilldown. And be sure not
to send the entire report to the printer!
- Set up consolidations (even multicurrency or different GLs).
The reporting tree is the driving force behind the
consolidation. Once the companies are set up in FRx, they will
be selectable in the tree. Make your catalog point to the
consolidating tree, and you're essentially done.
- Create budget variance statements by cost center. The main
trick here is to use the 'XCR' print control in the variance
columns in order to get the favorable/unfavorable variance
sign correct on both the revenue and expense sections.
- Plan and design the best way to use FRx to begin any
reports that must be completed in Excel. You can really give
yourself a headstart by starting in FRx, even if you have to
finish in Excel. Also, when in Excel, it's a good idea to
separate your report from its data. That way you can copy your
data in each month but still have your report retain its
formatting.
- Analyze existing reports to make them run faster: unless
it's not possible due to design considerations, the natural
account should be in the row and the tree should specify the
departments or cost centers. The report processes much faster
this way, not to mention the streamlined maintenance.
- Ensure your staff knows how to accomplish all the above:
investing in training, sometimes one-on-one, can allow more in
depth use of FRx.
- Generate a report to a PDF and send it to your own
SharePoint site.
- Try OLAP multidimensional financial analysis. I don't see
too much of this going on, but if you're one of them, set your
output in the catalog to 'FRx instantOLAP - Microsoft Server
Cube', and you'll get options for cube settings.
Lagniappe (Cajun for 'a little something extra'): Use
Excel to automatically graph FRx reports. |
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| Need more? |
| See FRxBuzz
for more advanced tips, screenshots for how-to's, news, and
much more. |
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