| First Look: Financial Reporting with BizNet |
by Patti Hales |
| From Alpha to Zealot: An accountant’s enthusiastic endorsement of BizNet Financial Report Writer |
| Yes, I am an Expandable employee, but more importantly I am a long time Expandable software user! I started using the DOS version of Expandable in 1993 and the windows version when I became an Expandable employee in 2001. I am also a huge fan of spreadsheets. I began by using Multiplan (the precursor to Excel), Lotus 1-2-3, Microsoft Excel and some others in between that I can’t or don’t want to remember. My favorite by far is Microsoft Excel and yes, I know it’s accountant nerdy…but, I admit I love creating spreadsheets. Excel to me is the equivalent of chocolate to a baker (did I just say that out loud?), I would not want to do my job without it. |
| Expandable began the process of looking for a new financial reporting package after Microsoft announced end of life plans for FRx. Expandable’s partnership agreement will expire December 31, 2010 along with all other FRx partnership agreements. At the time the search began, most of us agreed that our new financial reporting software would need to be an Excel-based product and after an extensive and thorough search, Expandable chose to partner with BizNet Software Inc. |
| As an accountant that has used the DOS product (remember XXUFQ – Online Query?), FRx and BizNet – I can honestly say that BizNet’s product suite is the easiest to learn. If you have even the most rudimentary knowledge of Excel, you can create an income statement and balance sheet with less than an hour’s worth of training. If you consider yourself an Excel expert – then the ways you can analyze your data are limited only by your imagination. |
The system designed with and for Expandable includes functions, reports and analysis sets. The functions will have that familiar feel to anyone that has ever used the SUM or IF functions in Excel. Expandable created a YTDENDBAL function and along with the Excel SUM function were all I needed to create a balance sheet. I formatted the balance sheet using Excel features. DONE! Really, it’s that easy. This product will make the impending switch from GAAP to IFRS reporting much less daunting.
Christy Takeno, Controller for Vertos Medical has beta tested the product for Expandable and says “We are definitely very happy with BizNet! Makes month-end a lot easier”. |
| For companies, that don’t have a full-time accountant or one that is just too busy to stop and create their own reports, Expandable has created some drag and drop templates, including an Income Statement, Balance Sheet and Cash Flow, to name a few. All that is required is that your chart of accounts is coded according to specifications. |
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If I sound really enthusiastic, it is because I am. I “alpha” tested the product for Expandable and I absolutely love it. |
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| For more information on the End of Life plan for FRx, |
| December 31, 2010: |
| Expandable will not be able to sell FRx after December 31, 2010 when the SDLA expires. This product is already EOL and they are in the final stages of closing current contractual agreements after extending all partners to 12/31/2010. |
| July 2012: |
| After this date there will no longer be ANY Microsoft support for the FRx product. |
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