Where does your cash go? See with Microsoft Dynamics GP

As a user, my business partner was always asking “Where does our cash go?” With the use of Smartlist, I was able to efficiently answer that question. To give him a year or month’s worth of data was basically the same as saying “I don’t know.” It’s too much information to process easily. So what did I do? 

Originally Posted 3/29/12

As a user, my business partner was always asking “Where does our cash go?” With the use of Smartlist, I was able to efficiently answer that question. To give him a year or month’s worth of data was basically the same as saying “I don’t know.” It’s too much information to process easily. So what did I do?

I created a Smartlist in Microsoft Dynamics GP for the operating bank account, and as I reconcile to the bank (which I do almost daily) I send him a list of everything that was entered since I last reconciled. This is a MUCH smaller list of data and it’s more easily digested and answers his questions just the same.

If you chose to do this, do not create your restriction based on the transaction date, as today I may be entering something from yesterday or something for tomorrow. Instead, use “POSTED DATE” which is the actual date the transaction was posted. This way you are giving a list of all transactions that were posted since the last bank reconciliation, regardless of the transaction date. Also, for consistency, use the previous day as the ending date because you may be posting something else today but yesterday is completed forever! This concept works even if you do not reconcile to the bank daily.

The next time someone says “where does our cash go?” Answer “Let’s watch it together for a while and see!”

Author: Belinda Allen

Belinda Allen (Microsoft MVP) is both a Microsoft Certified Professional for Dynamics GP (MCP) and a Microsoft Certified Trainer (MCT). She is also the co-founder of Smith & Allen Consulting, Inc. (www.saci.com), a business management software consulting firm for over 24 years. Belinda began implementing ERP systems so long ago that Windows was not an operating system, but an application. Larger businesses used old Main Frames with monitors that were Green and Black and smaller business did accounting by hand. Having seen the evolution that has taken place over the years from pieces of paper to analytics, Belinda still gets excited every time she helps a business improve. Belinda is also well known for her Blog www.BelindaTheGPcsi.com. Her blog is about sharing really useful information about the product quickly and succinctly. She has earned the nickname GP CSI because she excels at reviewing GP problems and figuring what went wrong and why. With followers all over the Globe she is able to share knowledge and achieve her mission: “To Improve the Lives and Business Success of my Followers.” In her time off, Belinda enjoys sailing, woodturning, crochet/knitting, sewing/quilting, reading and playing the ukulele (Belinda often participates in Ukulele Jams in NYC.)

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