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“I want it all, and I would like it delivered.”
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12 Tips for More Effective Use of FRx
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.
 
  1. 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!
  2. 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.
  3. 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.
  4. 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.
  5. 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!
  6. 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.
  7. 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.
  8. 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.
  9. 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.
  10. 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.
  11. Generate a report to a PDF and send it to your own SharePoint site.
  12. 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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