New in EFP - E-Report Freeze

18.09.19 03:30 PM By Admin

Epicor Financial Planner recently introduced a simple yet useful feature for financial reporting called E-Report Freeze.

This is a feature that has been specifically requested by several business users to make working across the organization easier.

So, what is E-Report Freeze?

E-Report Freeze is a very useful feature if you want to grant online report access to all your users but still want to retain control in the finance department over whether figures should be published or not.

Then the question is - Why would you give users access to online reports?

The answer to that is that when they have access, it gives them the ability to drill down to journal details.

Imagine a simplistic scenario where you have a department head that has a budgeted phone bill for the team of 2000 USD but has actuals of 6000 USD. If you just send out a static report, the most likely scenario is that he or she will ask the finance department why this is the case.

The finance department will then have to answer this question by giving him the details behind it but that is only 1 department head out of hundreds or potentially thousands in the entire organization. If everyone is to send questions to finance departments pertaining to their numbers, this will bog down the finance team significantly.

Having access to online reports ensures that all users can drill down to journal or investigate the figures themselves and see the details by simply right clicking on the figure.

E-report freeze also means that preliminary reports can now be frozen for certain users while waiting for the final reports. This is to ensure that the team continues to only have a single version of the truth and this means reports can be frozen at a particular state during the time the finance department works on closing the books.

To add to that, EFP also introduced the ability to be able to freeze all the final reports to make sure no one accidentally modifies it.

E-report freeze is certainly a new and exciting feature that many existing cloud and on-prem customers are enjoying.

Do you want to see this in action, or do you want to know more about this feature? See a live demo.