Weekly Reporting

Improve Your Profitability With Weekly Reports

It doesn’t pay for companies to wait until the end of the month to run their P & L statements. Reports covering expenses, revenue and other factors should be created and reviewed on a weekly basis to insure the health of the business.

As examples, hotels and restaurants are two industries that greatly benefit from weekly reports that profile prime costs. Easily accessible data about payroll, food and beverage costs, and upkeep and maintenance expenses need to be closely monitored to insure daily success.

The more manual the reporting process, the more room there is for error. An automated system that can pull information from many sources and consolidate it quickly into customized, easy-to-understand reports can save a company many hours of staff time and expense, and give management the up-to-date information they need to make informed decisions that will improve their ROI.

Frequent business reports also reveal patterns and trends that owners can track over time, and pending problems can be identified and avoided before they occur, increasing profitability.

FYIsoft’s financial reporting software was designed to easily accommodate any reporting requirements.  Schedule a brief demo, and our team will be pleased to show you how quickly and easily your business can generate the weekly reports that are vital for its continued success.

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Changing Financial Process

Why Changing your Financial Reporting Process Now is Crucial Before the New Year

We all like a fresh start with the new year rolls around on January 1. There’s no better than time than now to prepare your business for a brighter future. Set your business up for success now by revamping your financial reporting process so the big changes you’re looking to achieve are possible in 2019.

Why change your financial reporting process now?

Financial reports provide the data and insight from which all business decisions are made. For today’s finance teams, it is critical that these reports be accurate, easy to produce, and board-ready at a moment’s notice.

The report applications found in more ERP systems don’t cut it for today’s complex accounting needs. That is why partnering with a cloud-based solution provider is the first order of business to revamp your financial reporting process. A cloud-based solution that is specifically designed to integrate with your existing GL system and dramatically improve reporting processes makes it easy to improve upon your existing processes.

Still using FRx?

Microsoft retired its outdated FRx reporting solution over five years ago. If you’re of the many still using this outdated and retired solution, once FRx crashes, it’s too late. Don’t risk another financial close relying on unsupported legacy software.

Plan ahead

If you want to make a change to your 2019 financial reports, waiting until the last week of December is not the way to do it. If new software is what you’re after, start researching and building a case for it now. If process improvements are your plan, setting them in motion now will only help you as the new year draws closer.

How FYIsoft can help

A cloud-based solution like FYIsoft can help you meet your financial reporting goals for the new year.

For one, FYIsoft offers a FRx report conversion. With a familiar architecture that’s similar to FRx, FYIsoft’s cloud financial reporting software easily converts your FRx reports at the database level so the conversion process is accurate and consistent.

Furthermore, FYIsoft focuses on one thing: developing the best financial reporting software available without compromising the security of your core financial data.

The benefits include:

  • Faster period close can save up to five days, allowing more time for analysis
  • Easier consolidations, even for complex multi-company entities
  • Streamlined, accurate report distributions – automatically formatted every time
  • Secure, 24/7 access to transactional data, from anywhere, anytime

Start the new year off on the right foot. Contact FYIsoft today to learn more about how FYIsoft can help your business achieve its goals.

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complex accounting software

Is the Complex Accounting Industry Pushing More Firms Towards the Cloud?

As an accounting professional, you know how even the most minute detail can affect the accuracy of your reporting. Add on layer upon layer of complex accounting practices, and it is easy to see why assuring that your reports are free of errors is of the utmost importance.

According to a survey by Capterra, 61 percent of users have locally installed accounting software rather than cloud-based software. But, 52 percent of users who had moved to the cloud saw a decrease in financial errors. And, as of the summer of 2015, 39 percent of businesses surveyed had begun using the online cloud version of their preferred accounting program—and that number is steadily increasing.

These numbers show that a mass exodus from traditional accounting software to the much-anticipated cloud-based future is already in progress. What’s driving the surge? According to Capterra, the most commonly cited reason for switching software packages is that their previous software didn’t have the right features.

To keep up with the wave of the future, accounting processes continue to become more and more complex. Is it this complexity that is pushing so many accounting firms towards the cloud?

The future of accounting

While most accounting professionals admit that the future is in the cloud, fewer are ready to make the leap. Migrating systems comes with risk, and the transition can be quite the undertaking. But, with statistics to support that accuracy improves with the use of cloud-based services, the cloud is rapidly gaining momentum.

Accounting tasks are tedious work, and with so much manual work and a reliance on spreadsheets to house that work, errors are bound to happen. One tiny error in one formula can snowball, and backtracking to find where the formula went wrong eats up a lot of hours of your best and brightest.

The tedium and complexities are arguably what is driving the wave toward cloud-based programs like those offered by FYIsoft. It is estimated that cloud programs will really take off within the next 5 years, but software companies like FYIsoft have beat the curve and started producing just the software that can reduce the time and complexity associated with accounting tasks.

FYIsoft and you

With over 8,500 finance professionals around the world relying on FYIsoft’s cloud financial reporting software, the company is quickly emerging as a leading force in the Financial Corporate Performance Management (FCPM) space. FYIsoft has the tools, team, and expertise to help your organization succeed with cloud technology. Don’t let accounting complexities slow you down—embrace the change and move forward with the cloud-based future.


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Streamline Your Financial Reporting Software with FYIsoft

man reading financial report on tablet – financial reporting softwareCreating financial reports is an essential task for CFOs, accountants, and companies of any size – but it’s often tedious. Pulling data and compiling it in a way that makes sense can take up a lot of precious time that you could be spending more productively. With financial reporting software from FYIsoft, you can streamline the entire report generation process.

Smart, Dynamic Design

Our award winning report writer has the ability to integrate with all major general ledger systems, including Excel, meaning that you don’t have to completely abandon your current reporting system for a new one. It can also pull data from multiple sources and perform audits to ensure that nothing is missing or duplicated.

One of the best features our reporting software has is automated bursting, which makes scheduling your reports simple. It can also consolidate financial data across accounts and currencies.

Easily Available

Because our software is web-based, you can access your reports from anywhere 24/7. It’s also secure so you can rest easy knowing that your reports are safe. When running a business, it’s helpful to have the ability to access your reports easily at any moment that you need them.


Centralized templates provide uniformly branded reports, making them easy to read and easy to keep track of from month to month.


What each of these features boils down to is increased efficiency. The reporting software streamlines the entire reporting process, allowing you to spend more time on other important aspects of your business. It can also help you get ahead of the game when it comes to expanding your business as well, since you’ll have an accurate and easy to read report on which to base strategies, and more time to fulfill those strategies.

Contact FYIsoft today for more information about our software or our training services.

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The Benefits of Using Cloud Based Accounting Software

dollar signs in the clouds - cloud based accounting softwareSpreadsheets are a handy way to keep track of data, but there are many disadvantages to using them as the sole program for important financial tracking. Even with a pivot table equipped with various filters to make looking at data easier, it can still take forever to compile, report, and analyze your financial data. This is especially true if you have massive amounts of data to compile. Spreadsheets also create more possibility for human error – something that you definitely don’t want in your financial reporting. So how can you streamline your accounting process?

Cloud Based Reporting

Cloud based accounting software is a great way to simplify your accounting process from start to finish. The best part is that it allows you to keep your current ledger systems, whether you use Excel or another system to manage your accounts. The software is simply a way to compile, report on, and analyze financial data more efficiently and accurately.

  • Integrates with Your General Ledger System – Whether you use Excel or another major general ledger system, the cloud based software can easily integrate into the system.
  • Pulls Data from Multiple Sources and Formats – This software can pull data from multiple places, which is handy for business owners who store important data across multiple sources.
  • Auditing Component – The auditing component in the cloud based accounting software prevents information from being duplicated, and can ensure that data is not missing.
  • Centralized Templates – Centralized templates provide uniform reports so they are easier to read and keep organized.
  • Automated Bursting – The software also allows you to schedule runtimes for the software, as well as other aspects of the system.
  • Consolidations – Cloud based reporting software also allows you to consolidate data across multiple calendars, account numbers, and currency so that you can easily view the big picture.

Utilizing cloud based accounting software will save you time, reduce errors in your financial reporting, and help you save money in the long run. Click here to learn more about FYIsoft’s cloud based reporting solutions.

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Welcome to the FYIsoft Blog

fyisoft logoWhen running a business, there are a million things to keep track of. Keeping your finances in check is arguably the most important – and the most difficult tasks that need to be completed. That’s where the financial reporting tools from FYIsoft come in. Our cloud-based financial reporting software makes it easy to maintain the financial health of your business without spending countless hours balancing your books and creating financial reports.

In this blog we will cover a range of financial topics, including the various benefits of using our financial software. If you run a business and want to learn some financial tips and tricks, or learn more about our business before purchasing software from us, you should subscribe.

Keeping track of your finances shouldn’t be a struggle. When you use our software, you free up time that you can use to analyze financial data and develop new strategies for financial growth. Our software can be used across a wide variety of industries including hospitality, insurance, healthcare, non-profit, and more. No matter what type of industry you work in, or the size of your company, our software can streamline your financial reporting and analysis process and reduce operating costs for your business. Contact us today for more information.

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