Category: GP Financials

Dynamics GP Payables Management or Fancy Check Writing System?

Do not use Dynamics GP Payables Management for a fancy check writing system, use it for Managing Payables!

Tips on Microsoft Dynamics GP from Belinda Allen.

Originally Posted 8/1/2012

Do not use Dynamics GP Payables Management for a fancy check writing system, use it for Managing Payables!
Enter invoices in every day, use the correct payment terms (making sure they are setup right) and then the system will help you:
  • Determine when to pay an invoice, so you keep the cash flow as long as possible
  • Pay Invoices on time, so your credit stays good
  • Allow you use the system to manage disputed invoices (by using the hold feature)
  • Look Good to your boss, because at month end your work will be all done!

Microsoft Dynamics GP Bank Rec out of balance to your GL?

There are two common reasons why the Microsoft Dynamics GP Bank Reconciliation Checkbook Balance and the General Ledger Checkbook Balance do not match.

Originally Posted 7/31/2012

Microsoft Dynamics GP User Group.

The following is an exerpt from the GPUG Tech Tips for August 2012.

There are two common reasons why the Microsoft Dynamics GP Bank Reconciliation Checkbook Balance and the General Ledger Checkbook Balance do not match.

Most Common Reasons for Variances in Balances
There are two common reasons why the Microsoft Dynamics GP Bank Reconciliation Checkbook Balance and the General Ledger Checkbook Balance do not match.

 

Continue reading “Microsoft Dynamics GP Bank Rec out of balance to your GL?”

Microsoft Dynamics GP – Add a Comment on Your Check (With Video)

While visiting with a client this week, I was asked how a comment can be placed on a Microsoft Dynamics GP AP check. Apparently this client needs to occasionally, for a few specific vendors, put information on the comment or memo field of the check itself.

While visiting with a client this week, I was asked how a comment can be placed on a Microsoft Dynamics GP AP check. Apparently this client needs to occasionally, for a few specific vendors, put information on the comment or memo field of the check itself.

Originally Posted 6/7/12

While visiting with a client this week, I was asked how a comment can be placed on a Microsoft Dynamics GP AP check. Apparently this client needs to occasionally, for a few specific vendors, put information on the comment or memo field of the check itself.

Continue reading “Microsoft Dynamics GP – Add a Comment on Your Check (With Video)”

Void a Partially Applied Payables Credit Memo in Microsoft Dynamics GP

Ever try to void a Payables Credit Memo, Return or Payment in Microsoft Dynamics GP only to receive the error message that is it either on hold or partially applied?

Ever try to void a Payables Credit Memo, Return or Payment in Microsoft Dynamics GP only to receive the error message that is it either on hold or partially applied?

Originally Posted 5/10/12

Ever try to void a Payables Credit Memo, Return or Payment in Microsoft Dynamics GP only to receive the error message that is it either on hold or partially applied?

Removing a hold is easy, but what do you do if it is partially applied.

In this video I will walk you through the easiest way I found to handle just this scenario!

Continue reading “Void a Partially Applied Payables Credit Memo in Microsoft Dynamics GP”

Microsoft Dynamics GP – Miscellaneous Check

Need to print a single check for a one time purchase using Microsoft Dynamics GP?

In this video, I’ll show you how to do just that!  I’ll use the Miscellaneous Check Entry Window to avoid having to setup a vendor to get 1 check.

Originally Posted 5/4/2012

Need to print a single check for a one time purchase using Microsoft Dynamics GP?

In this video, I’ll show you how to do just that!  I’ll use the Miscellaneous Check Entry Window to avoid having to setup a vendor to get 1 check.

Continue reading “Microsoft Dynamics GP – Miscellaneous Check”

What’s the deal with the Apply Date in Microsoft Dynamics GP Payables?

The Apply Date that shows in the apply window for Microsoft Dynamics GP Payables has an important role. The apply date that is used when the invoice becomes fully applied will become the “Date Invoice Paid Off.”

The Apply Date that shows in the apply window for Microsoft Dynamics GP Payables has an important role. The apply date that is used when the invoice becomes fully applied will become the "Date Invoice Paid Off."
Posted April 2012
The Apply Date that shows in the apply window for Microsoft Dynamics GP Payables has an important role. The apply date that is used when the invoice becomes fully applied will become the “Date Invoice Paid Off.”
This field of “Date Invoice Paid Off” will determine when to display an invoice on a Historical Aged Trial Balance AND when to include the invoice’s 1099 amounts on the 1099.

Why do we have to age Microsoft Dynamics GP Receivables?

I frequently get asked “Why is there a separate step to age Microsoft Dynamics GP Accounts Receivable?” 

Posted 4/1/2012

I frequently get asked "Why is there a separate step to age Microsoft Dynamics GP Accounts Receivable?" 

I frequently get asked “Why is there a separate step to age Microsoft Dynamics GP Accounts Receivable?”

Believe it or not, it’s actually a benefit to you.

I have a client who charges their customer a finance charge for all invoices 30 days or older; however experience tells them that many times they charge finance charges, only to receive the payment within a day or two causing them the extra work of writing off the finance charge.

We worked together and created a very smart plan. We change the aging periods from 1-30 to 1-45, then age and charge finance charges for invoices over 45 days old. We then change the aging period back to 1-30 and age again. This method, only ended up charging finance charges for invoices over 45 (even though their customer is expecting over 30)days old.

There are many reasons you may want or need control over aging, and with GP you have it!

It’s Microsoft Dynamics GP “Payables Management” NOT “Invoices I need to pay”

One of the most frustration situations I come across is when I walk into an existing user of Microsoft Dynamics GP only to find they are using Payables Management (PM) as a fancy check writer rather than a tool to manage payables. 

Originally Posted 3/29/2012

One of the most frustration situations I come across is when I walk into an existing user of Microsoft Dynamics GP only to find they are using Payables Management (PM) as a fancy check writer rather than a tool to manage payables. 
One of the most frustration situations I come across is when I walk into an existing user of Microsoft Dynamics GP only to find they are using Payables Management (PM) as a fancy check writer rather than a tool to manage payables.

I often wish I had a portable soap box to stand on when I say “enter all of your every day and you’ll reap all kinds of benefits!”

If you enter ALL invoices in PM every day, you can take advantage of tools. You can answer all of the following questions:
1) How much do we have outstanding right now?
2) What’s due through next week?
3) How much is past due?
and more…

This is what PM is all about. Bank Reconciliation can print a check, payables is designed to help you track invoices by vendor, update the GL of transactions from invoices and their payments, determine when an invoice is due and when it’s best to pay… Basically its a way to MANAGE your payables, hence the name Payables Management.

Did you know there is a report called Cash Requirements where you can enter a date and the system will show you all invoices due by that date with a total dollar amount?

Did you know the Cash Flow Module will look at PM and determine how much cash is due to flow out of the company by that due date?

Don’t do extra work, let PM help you!

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?

Continue reading “Where does your cash go? See with Microsoft Dynamics GP”

Is your Dynamics GP GL Cash Balance Right?

We all know Reconciling our cash to the Bank is important, and if you are using the Microsoft Dynamics GP Bank Reconciliation Module… YOU’RE A HERO!

Originally Posted March 2012

We all know Reconciling our cash to the Bank is important, and if you are using the Microsoft Dynamics GP Bank Reconciliation Module… YOU’RE A HERO! But, it is equally important to make sure the sub-module of Bank Reconciliation (BR) balance the GL accounts for the cash in the General Ledger (GL.) Remember we can prove the BR balance, and the BR proof is the GL proof; so this is VERY IMPORTANT!

Continue reading “Is your Dynamics GP GL Cash Balance Right?”