Financial Data Extraction in Sage X3

By | December 28, 2015

Financial reporting involves the revelation of financial data to company stakeholders, this also helps people to understand the company’s performance over a specific period of time.
Normally the Financial reports are extracted Quarterly or Annually basis.

The primary purpose of Financial Reports can be segregated in 2 points:

  1. Since the FR’s provide a picture of the financial data of a company, it helps in taking up the strategic decisions effectively.
  2. It also serves the purpose to judge the company’s strength and weaknesses and give the management and graph of company’s health.

The primary Financial reports which a company looks up to is:

  1. Balance Sheet: A balance sheet gives the entire detail of Assets and any finances made by it or also owned by it. It also gives the idea of the investment made by the company.
  2. Income Statement: Discloses the company’s earnings (same as profit loss) over the reporting period.

Financial Data Extraction in ERP

All these FR’s are very complex to design using the usual reporting tools and hence it requires some specialized tools which can offer the data to be pulled dynamically as per period, accounts, and dimensions from the entire company.

Such tool is offered by Sage X3 termed as Financial Data Extraction tool. This tool offers inquiries, extractions and reports of those data coming from the accounting.

This tool acts as a report-building tool, which offers the designing of matrix i.e. formatting and editing the row and column content, as well as restricting the content using specific conditions.

Financial Data Extraction (FDE) in Sage X3 works in 3 stages:

  1. FDE Setup Creation
  2. Calculation
  3. Inquiry

FDE Setup: This function is used configure the FDE elements which are related to dimensional and budgetary accounting.

Calculation: As the name suggests this functionality will be used to calculate or update the calculation of a group of tables.

Inquiry: This option makes it possible to display the data as configured and calculated during the first 2 steps of the financial data extractions.

If you are looking for tailor made features to enhance your Sage X3 functionality and experience for your industry, Greytrix would be your right choice.

About Us

Greytrix – a globally recognized and one of the oldest Sage Gold Development Partner is a one-stop solution provider for Sage ERP and Sage CRM organizational needs. Being acknowledged and rewarded for multi-man years of experience, we bring complete end-to-end assistance for your technical consultations, product customizations, data migration, system integrations, third-party add-on development and implementation competence.

Greytrix caters to a wide range of Sage X3, a Sage Business Cloud Solution, offerings. Our unique GUMU™ integrations include Sage X3 for Sage CRMSalesforce.com, Dynamics 365 CRM and Magento eCommerce along with Implementation and Technical Support worldwide for Sage X3. Currently we are Sage X3 Implementation Partner in East Africa, Middle East, Australia, Asia, US, UK. We also offer best-in-class Sage X3 customization and development services, integrated applications such as POS | WMS | Payment Gateway | Shipping System | Business Intelligence | eCommerce and have developed add-ons such as Catch – Weight  and Letter of Credit and India Legislation for Sage X3 to Sage business partners, end users and Sage PSG worldwide.

Greytrix is a recognized Sage champion ISV Partner for GUMU™ Sage X3 – Sage CRM integration also listed on Sage Marketplace; GUMU™ integration for Sage X3 – Salesforce is a 5-star rated app listed on Salesforce AppExchange and GUMU™ integration for Dynamics 365 CRM – Sage ERP listed on Microsoft AppSource.

For more information on Sage X3 Integration and Services, please contact us at x3@greytrix.com, We will like to hear from you.