Spec Sets in FRx contain a particular grouping of rows, columns, trees, and catalogs. There’s one for the demo reports that are built into FRx. There’s at least one for your company unless of course you have a brand new implementation.
Exports are really good to use as a backup in a pinch. Or use them to send to me (or your own consultant) so that I can review your building blocks without logging in remotely. I won’t be able to see final reports, only the building blocks. So it’s not dangerous from a confidentiality perspective.
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Thanks to my good friend George McMann for the title! That just about sums it up. Lots of people, when they’re implementing a new GL, are confused about why there are TWO reportwriters, often Crystal Reports and FRx. Why two?
FRx is a specialized tool used for financial reporting. Crystal is a reportwriter used for Agings and Vendor Lists and the like. Crystal requires knowledge of the underlying accounting database: the tables, field names, and how they’re used (posted or not, released or not, etc.). FRx does not: it’s already done all the table linking for you. Read More »
This is the second time in a week I’ve heard about this, and it’s international in scope.
According to author Glenn Cheney: “From Boston to Beijing, the accounting profession may soon have a new type of financial statement – one without net profit at the bottom line, with finance information separated from operations, tax information off to the side and cash flow reported separately.”
Read the whole article at the WebCPA site.
New FRx reports required? Perhaps.