Effective and efficient financial calculations play a very important role at quarter-end. At each quarter-end, there are strict time restrictions involved in preparing the Axis dataset model to run, outputting calendar year reports, reconciling and analyzing the results. The financial calculation software, Axis, plays a very crucial part in this process. It is vital that the calculations from Axis are accurate and produced in a timely manner. It is also important to keep up-to-date with all the new versions of Axis. Recently, the newest version, Axis 10, had been introduced with many new enhancements.
These new features will be the key in efficient time management at quarter-end. Improvements to the software result in an initiative to convert all products from Axis 9. 4 to Axis 10. This report will give a brief description of the Axis program, outlining the conversion process, and evaluate various problems faced.
In conclusion, it will compare the advantages and disadvantages concerning the transition of the two version of Axis. Axis in General Axis is a software produced by GGY that can be used by all levels of people in an organization. It provides technical, actuarial and financial information. The software is also able to display results from a financial statement point of view. This allows the user to see how decisions can affect both the income statement and balance sheet. The versatility of the software allows user the opportunity to produce accurate financial calculation and make informed decisions.
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Recently, GGY had introduced a new version of Axis. This new version, Axis 10 has two main enhancements: Distributed Processing, Integration of Datalink and Object Explorer. conversion process Following is a user guide to a successful conversion from Axis 9. 4 to Axis 10. It is very important to make sure that the datasets and databases are both converted into Axis 9.
4 Maintained before getting started on the conversion into Axis 10. To convert a dataset into Axis 9. 4 Maintained: 1. Open up Axis 9. 4 Maintained. 2.
Click on Dataset Action button. 3. Scroll down and select the option Restore Dataset… 4. Browsed through the directory to where the dataset (version 9. 4) was saved in the Open pop-up window.
5. Double click on the dataset name, and select Yes when asked ‘Would you like to convert it?’ 6. Return to the Dataset window and back up that dataset to a folder on the LAN once it is converted into 9. 4 Maintained.
To convert a database into Datalink Maintained version: 1. Open up Datalink Maintained version. 2. Click on File button. 3. Scroll down and select the option Backup/Restore Database.
4. Browsed through the directory to where the database (version 9. 4) was located in the Backup/Restore Database pop-up window. 5.
Click on Restore New. 6. Click on Database Button and double click on the database that had just been restored. 7. This will convert the database into 9. 4 Maintained.
8. Go back to File ‘ Backup/Restore Database and back up the database to C: DATALINK 94 MAIN Note: It is very important that the database is backed up in this particular directory or it cannot be converted into Axis 10. Once the conversion process into 9. 4 Maintained is complete, the next step is to reconcile the results. To reconcile, the batch that was run at quarter-end should be rerun in 9.
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4 M and viewed using the report. This is necessary to confirm that the result from both versions does not differ. To convert a dataset into Axis 10: 1. Open up Axis 10 2.
Click on Dataset Actions 3. Scroll down and select Restore Axis 9 Dataset and Convert… 4. Browsed through the directory to where the dataset (version 9. 4 Maintained) was saved in the Open pop-up window.
5. Select a temporary directory to restore the dataset (usually in the C: drive) in the next pop-up window. 6. In the Convert AXIS 9 Database Wizard – Step 1, select the right module and click on the ellipsis (… ), scroll down and select the database that you have backed up earlier. 7.
Under the Option section, select If dataset had seriatim data convert it to a new format. 8. Under Datalink tables data, select the option Convert only if user def table has no source file. 9.
Click on Finish. 10. Double click on the dataset name to continue the conversion process. Once the conversion process is finished, follow the reconciliation step from above and rerun the quarter-end Datalink and calendar year recalculation batch. Record the results in the same Excel spreadsheet and make sure the numbers reconciled. Conversion Problems The transition process was faced with many impediments and problems.
The majority of the problems occurred in Datalink. These errors arise from the automatic conversion of certain alpha fields into numeric fields in Axis 10. When this occurs, the ALLTRIM formula that has alpha input fields become invalid. This problem was resolved by taking out the ALLTRIM formula.
Conclusion The previously used version of Axis 9. 4 is can be inefficient at times. This inefficiency is due largely to the amount of time needed to run a batch job. Potentially, Axis 10 have the capacity to help eliminate this problem by introducing the new feature, distributed processing.
Also, the newly integrated application allows for quicker training, as there is only one application to learn. The advantages of the Axis 10 are clearly the better usage of time and resources by staff at quarter-end. The drawback to the new version is mainly due to the large amount of time spent on conversion. Even with the initial drawbacks associated with the Axis 10 conversion, the impact that the software has on the issues concerning time restriction and clarity of integrated application is positive overall. When the staff is fully trained to use the new version to its full potential and the all the problems from conversion has been resolved, Axis 10 will substantially increase the time efficiency of the quarter-end process..
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