Dynamics Gp Frx Financial Reporting Notes

For current version of Microsoft Dynamics GP Great Plains 10.0 and 11.0 (expected to be released in May 2010), as well for all the historical versions of GP and Great Plains Dynamics and eEnterprise/Dynamics/CS+ (including versions for Pervasive SQL and Ctree): 9.0, 8.0, 7.5, 7.0, 6.0, 5.5, 5.0, 4.0 and earlier, FRx Reporting tool is the instrument of choice for Financial Reports design: Balance Sheet, Profit & Loss Statement, Statement of Cash Flow and consolidated versions of these reports. Theoretically you could design the same reports in Crystal or Microsoft SQL Server Reporting Services (SSRS), Excel, Microsoft Access Reporting, but this would take thousand percent more time, comparing to FRx. The secret of FRx is simple – it has special connector to various Corporate ERP applications General Ledgers: Great Plains, Axapta, Navision, Solomon and others. This article is written for technical consultants and IT professionals in your company and we are addressing FRx questions, which might be too technical:

1.Current version of FRx is 6.7. For Dynamics GP 10.0 Service Pack 9 (or more recent) is required for Dynamics GP 9.0 Frx 7.6 SP 5 is recommended. FRx 6.5 is for Dynamics GP 7.0 and 7.5. For earlier versions of Great Plains Dynamics FRx version typically should coincide with GP version

2.FRx anatomy. In FRx Reporting you have several simple building blocks: Row Format, Column Layout, Reporting Tree, and Catalog (there are several additional substructures: Account Set, Specification Set, but these are outside of the scope of today’s article). FRx Specification Set file is in essence Microsoft Access password protected database (we expect a lot of vapor release emotions at this point, as MS Access is something that many IT professionals consider as computer technology legacy). We had customers, who needed to export FRx reports structures to SQL Server and we helped them to crack down FRx Default Specification Set MS Access Database

3.Let’s begin FRx report building. Required parts of FRx report are Row Format and Column Layout. If you are building FRx Profit and Loss Statement report with details by each month of the current or historical year – this should be incorporated in 12 months Column Layout. In Row Format you are deciding on the report rows. Simplest option is to add rows from existing accounts, but more sophisticated approach is to create accounts sets (for sections of Current Assets, Long Term Assets, Deferred Revenues, Current Liabilities, Customer Deposits, etc). Account Set allows you to drill down to real accounts and potentially posted and even unposted transactions (here I am really talking on behalf of Microsoft Dynamics GP Great Plains)

4.Consolidated Reporting. It requires FRx reporting tree. Normally, you create similar natural accounts (main segment in Dynamics GP GL terminology) with similar or almost similar (or recognized as similar) names

5.FRx reports tuning: missing or duplicate accounts report. Often, as Dynamics GP consultant you face the situation, when you are given Excel Chart of Accounts and in building your FRx Balance Sheet you discover that Excel Chart of Accounts is not 100% accurate and now you have to add accounts to various sections of Balance Sheet (we are not talking about P&L, as BS has one line, where you virtually add all P&L as Current Year Earnings)

6.FRx Balance Sheet and P&L tuning recommended procedure. The best way is to build FRx report directly adding accounts from GL of the default company. If you are building FRx consolidated report, please consider simple technique of closing Report Catalog and switching default company

7.Beyond FRx. Managerial Reporting (often referred as industry reporting), typically doesn’t look at General Ledger details and rather to specific module details and summaries. Dynamics GP Managerial Reporting could be done in GP Report Writer, Crystal Reports, MS Excel, SSRS, direct SQL Select Statement

8.Crystal Reports Alternative. Please, see above – we already mentioned that FRx is preferred in Financial Reporting (BS, PL, CF and consolidated versions). CR is rather form managerial reporting (Bill of Lading, Invoice form with Graphical Logo, Purchase Order Form plus Requisition form)

9.FRx Future. We heard signals from Microsoft Business Solutions that FRx will be replaced in few years with the Dynamics Financial reporting tool, built on the base of Microsoft SQL Server Reporting Services (SSRS). In any case, MBS should provide robust FRx to SSRS migration tool or option

10.12. FRx for Dynamics GP consolidated reporting, when overseas your subsidiary deploys non Microsoft Dynamics Corporate ERP, such as SAP Business One. Please, review the option to consolidate Dynamics GP company with MS Excel Worksheet (export from SAP Business One Trial Balance report to Excel)

11. We support all the versions of FRx, if you need help, feel free to call us 1-866-528-0577, or email us at [emailprotected]

12.Bonus topic, popular question about FRx in earlier January 2010 (and we assume for the following years). You are getting error message “Changed Default Base Period to C”, and then there is no way for you to print FRx Balance Sheet, P&L or another report for January 2010. This issue is linked to the fact, that you didn’t yet setup 2010 Financial Year (Fiscal Periods for the year 2010 in Microsoft Dynamics GP). To fix this issue, please follow the next paragraph recommendations

13.Tools->Setup->Company->Fiscal Period, then in the window in Year editable field type 2010and click on Calculate button above

Then log off FRx, login back and Rebuild GL Indexes (typically automatic process when you login FRx). If you have multiple companies, simple method to rebuild GL indexes is

A. In FRx->Company->Information, then change company and click on Set as Default (on the left bottom corner you should see status line, that it is rebuilding GL indexes)
B. Repeat step 1 for all the companies
C. Change default company to original one

At this point FRx should work normally

Commercial Truck Lease – Bad Credit

If you are considering financing a semi truck or trailer, than you should know that now is the best time to buy. In today’s weak economy, start-up and seasoned businesses have a great opportunity to get a very good deal on off lease and repo semi trucks, big rigs and over the road trucks.
It can be rough trying to find a good financing company in today’s market for a truck semi trailer. The conventional ways of financing a truck, such as through a bank or dealer have subsided. Situations like this have caused many people to turn to secondary markets where repossession and off lease trucks and trailers are available for either a lease purchase or straight up cash buy. The good news is that ay secondary truck finance company will always have the trucks and trailers reconditioned.

The truck finance companies know that by fixing these trucks up they have a better chance to either re-lease them or sell them. However, if you happen to find yourself already in a lease purchase that you want to get out of, it can be tricky and scary. Although getting out of a lease agreement might hurt your financial situation and credit score, if you feel like you have no other choice, read your lease agreement very carefully and find out what the exact stipulations are. Ideally, you should have read through your lease purchase before signing it in the first place, so you should be at least somewhat familiar with the part of the lease which details terminating the lease. Lease terms vary widely If you have a month to month lease, usually you need to give notice in advance to know if you can even cancel it. If you have a good reason you want to cancel your lease purchase and you find someone to take over your truck note than you will have a better chance of getting out of it. Some semi truck lease companies will let you get out of a lease agreement early with minimal penalties. There are all sorts of reasons you will want or need to cancel your lease and while you are legally responsible for your lease, everyone understands that unforeseen circumstances do happen. If it’s just because of a personal issue you want to get out of a lease than chances are you might not be able to get out of it. Semi truck prices vary depending on a number of factors such as model and the year the truck was bought. Financing a used semi truck can be done through a bank or private lender, so you can get to pay your seller the full amount, then worry about paying your lender on a monthly basis.

Brazil’s Banking System

Post global recession, the Brazilian banking model is now internationally recognized as a highly efficient system. Many attribute its recent success to the sophisticated mechanisms and regulatory systems that were created during the ‘lost-decade’ of hyper-inflation.

Nowadays, financial regulation is very conservative and was created to ensure the banks would be able to regularly stress test their processes to check and balance their activities in a variety of hypothetical unstable environments. Internal controls, limits for client exposure, loss provisions, company credit capital are all closely and strictly monitored. The following practices are also worth highlighting:

– The minimum Basel Ratio of the Brazilian banking system is set at 11 percent, which 3 percent higher than what is suggested in the Basel Accord. Most banks, in reality, operate much higher than this level (at over 17.5 percent) with low leverage ratios (over six times the level of their capital holdings);

– All banking limits and requirements are applied in consolidated terms which means that so called toxic assets or special investment vehicles are put under heavy scrutiny;

– All investment funds are weighted in line with their corresponding assets. This is undertaken to ensure that leverage levels are reasonable and over-exposure is kept to a minimum;

– Over the Counter (OTC) derivatives need to be registered with the Central Bank (or face legal action);

– The Brazilian Securities and Exchange Commission (Comisso de Valores Mobilirio) legally obliges all public companies to disclose all information with regards to the financial instruments that are being used. In addition, full sensibility’ analyses are undertaken on a regular basis;

– The central bank has control over all non-financial subsidiaries of banking institutions;

– Expected loss provisions are taken into consideration (not just actual losses);

– Liquidity and market risks are monitored intensively by the Central Bank on a daily basis;

– Bank reserves must cover all debt payments past;

– All lending above the value of $BRL 5,000 must be registered with the Central Bank;

– Issue ratings are regularly undertaken;

– Regulatory procedures are applied to all banks and are also regularly updated in line with financial innovations (approved by the Central Bank), international standards and conjuncture changes.

Many commentators attributed Brazils above average resistance to the effects of the global recession to these reasons. Indeed, at the onset of the global economic crisis, the securitisation market was less than 10 percent in comparison to the credit volume of the country which meant that the intersection between the two markets did not bring any significant damage.

At the close of first decade of the 2000s, Brazil was one of only four countries in the world with a wide spread on lending, with an average at over 30 percent. Indeed, the country was awarded first place for its high regulatory standards at the 2009 Financial Stability Forum’ in Basel that “helped it avoid the worst of the global economic crisis.” As pointed by Alexandre Tombini, Director of Regulation at the Central Bank: “We are used to dealing with challenging environments at our institutions and our regulations. Everything we have done since the mid-1990s has tended to take a more cautious approach.”

Below is a list of the main banking institutions of Brazil:

Central Bank of Brazil the highest monetary authority and the country’s governing body in all matters related to finance and economics. The institution is linked with the Ministry of Finance and decides the monthly SELIC interest rate.

Banco do Brasil the largest Brazilian and Latin American bank by asset values. With its headquarters in Braslia, it is also the oldest active bank in Brazil (founded in 1808).

Caixa Econmica Federal founded in 1861 (more commonly referred to as Caixa), nowadays the bank is well known for financing the civil and construction sectors; administering the Minha Casa, Minha Vida housing programme as well as being the large stakeholder in Brazils largest property and land portal: Zap.

The Brazilian Development Bank (Banco Nacional de Desenvolvimento Econmico e Social or BNDES) established in 1952, it is now the second largest development bank in the world and is a federal public company associated with the Ministry of Development, Industry and Foreign Trade.

Bradesco founded in 1943, it is one of the largest banks in operation in the country (it was formerly the largest until Banco Ita and Unibanco merged in 2009).

Ita Unibanco based in So Paulo, the bank was formed out a merger of Banco Ita and Unibanco in late 2008 and now operates as the largest financial conglomerate in the Southern Hemisphere and the 10th largest bank in the world.

Banco Santander Brasil founded in 1982, with its headquarters in So Paulo, major acquisitions were made in the late 1990s and 2000s including Banco Real, Banco Geral do Comrio, Banco Noroeste and Banespa.

Banco Real a Brazilian bank that was previously owned by ABN AMRO.

HSBC Brazil in 1997 Banco HSBC Bamerindus was set up to take over Banco Bamerindus do Brasil which was subsequently changed to HSBC Bank Brasil in 1999.

Safra with its headquarters in So Paulo, the bank is part of the larger Safra Group of financial institutions.

Banco Nossa Caixa the bank was incorporated into the Banco do Brasil in 2008, formerly serving as the financial agent of the State of So Paulo.

Bank Term Deposit And Its Advantages

A bank term deposit refers to the depositing of a certain sum of money at a bank where the depositor is able to earn an interest on a monthly basis or whenever the term matures. The term is fixed as well as the rate of interest that is paid unless the investor negotiates with the bank for getting the interest on a monthly basis.

This is one way that many people are able to earn an income for themselves by investing their money. When money is deposited for a period of time it can only be withdrawn at the end of the term agreed upon by the bank and the depositor. The guaranteed return at a fairly high interest rate is the attraction here. This is an effective way of locking away savings so that it will not be spent unnecessarily.

Another advantage apart from earning an interest on the term deposit is the ability of the depositor to secure a loan against the fixed deposit. This way the depositor can even finance a small business as the interest rate that is charged for such a loam is only slightly higher than what the depositor would be earning from the initial deposit.

Financial Strategies Mandatory Student Guide

Being a student and being away from home, it will make you become someone more independent and also more calculations. The money will be given monthly by the parents, and you must be able to manage it well and as smart as you can. The most important thing is his replenish. Right?
Not easy to manage finances, there will always be many reasons why the monthly money runs out in the middle of the road, often at a time when the next shipment is far from coming.
When something like this happens, then there will be many problems, problems that most small to the lack of food. His name is also a student, sometimes do not have the time to spend money calculation.
Some of the points below will provide a solution to your financial problems:

1. Arrange the Monthly Budget with Smart
Start compiling a monthly financial budget, it will facilitate you in managing finances. Separate all expense items and place some funds appropriately. Prioritizing post basic necessities, such as food costs, boarding fees, transportation costs.
But beyond all these posts, always preferred to set aside a sum of money in a certain percentage (eg, 10 percent) as a savings fund. These funds will be particularly useful as an emergency fund, if at any time there is a problem in your monthly finances or when money is late in coming.

2. Adhere Budget Consistent
When we make a plan, it will be useless if all the plan is not being implemented properly.
After compiling financial budgets smartly, then make sure you execute it with discipline and also commit.
Do not do it half-and-half, you will only get the maximum results if it complies with all the budgets that have been prepared. Always do check regularly, so that the budget is actually able to run properly. At first it might seem difficult, but after running it, everything will be easier to live.

3. Save and healthy
When away from home, it will be very important for you to maintain your health and have a regular life pattern. Do not get used to eating in any place, including buy snacks and a variety of other snacks. Wander around the campus or where you live and find a place to eat clean, cheap, and serves a variety of healthy foods.
Maintaining the health of all the time is also equal to downsize, it means you do not need to spend some money on the cost of treatment and care for the sick.
Hospitals will only make you waste a lot of things, including the time and also money. For that reason, always make it a habit of healthy living and eating regularly at a proper meal.

4. Separate Savings Fund and Needs
Never confounds saving money with the other money will be used for a variety of needs.
Immediately separate the amount of savings after you get a monthly allowance, use a separate account for the fund. This will prevent you from accidentally always use and do not spend it.