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!

Where’s the cash Account for this Microsoft Dynamics GP Cash Receipt?

Last week I was working at a client’s office helping entering receivables payments in Microsoft Dynamics GP. While entering I noticed that more often than not the cash account did not default. I realized that the customer card file had been set to pull the cash account from the customer instead of the checkbook.

Last week I was working at a client’s office helping entering receivables payments in Microsoft Dynamics GP. While entering I noticed that more often than not the cash account did not default. I realized that the customer card file had been set to pull the cash account from the customer instead of the checkbook.

Posted 2012

Last week I was working at a client’s office helping entering receivables payments in Microsoft Dynamics GP. While entering I noticed that more often than not the cash account did not default. I realized that the customer card file had been set to pull the cash account from the customer instead of the checkbook.
This is something I strongly advise against. If you use Bank Reconciliation to balance your checkbook, you could easily cause your balances to go out of balance if you do not pull the checkbook account from the checkbook ID rather than the customer ID.
In your Customer Maintenance Window, click on the Accounts button and at the top of the Customer Accounts Maintenance window you’ll see this option. (Note that you can look this up in mass using Smart List.)

ALWAYS USE THE GL ACCOUNTS FROM THEIR MASTER RECORDS TO HELP KEEP SUB-MODULES BALANCED TO THE GENERAL LEDGER!

(Belinda-ism)

 

Microsoft Dynamics GP Sales Order Processing Deposits

Today I’ll show you how to enter Deposits with Microsoft Dynamics GP Sales Order Processing (SOP) Documents.

Originally Posted September 19, 2011

Today I’ll show you how to enter Deposits with Microsoft Dynamics GP Sales Order Processing (SOP) Documents. I’ll specifically show: 

Continue reading “Microsoft Dynamics GP Sales Order Processing Deposits”

Microsoft Dynamics GP Checklists (Routines)

Watch me edit the Routines Checklists to make a customized ToDo for daily and period end procedures in Microsoft Dynamics GP!

Originally Posted August 31, 2011

Watch me edit the Routines Checklists to make a customized ToDo for daily and period end procedures in Microsoft Dynamics GP! 

Continue reading “Microsoft Dynamics GP Checklists (Routines)”

Microsoft Dynamics GP Revenue/Expense Deferrals

Here I’ll show you how easy it is to defer Revenue over a specified period of time in Dynamics GP. I’ll setup a Deferral Profile to make a template for commonly used deferrals. No more manually deferring, let GP do it for you!

Originally Posted 8/23/11 

Here I’ll show you how easy it is to defer Revenue over a specified period of time in Dynamics GP. I’ll setup a Deferral Profile to make a template for commonly used deferrals. No more manually deferring, let GP do it for you!

Continue reading “Microsoft Dynamics GP Revenue/Expense Deferrals”

Write off Routine in Microsoft Dynamics GP Receivables

This video shows both methods of writing off invoices in Receivables Management and where it gets the GL account numbers to write off to using Microsoft Dynamics GP. 

This video shows both methods of writing off invoices in Receivables Management and where it gets the GL account numbers to write off to using Microsoft Dynamics GP. 

Originally Posted 5/31/11

This video shows both methods of writing off invoices in Receivables Management and where it gets the GL account numbers to write off to using Microsoft Dynamics GP.

Continue reading “Write off Routine in Microsoft Dynamics GP Receivables”

Make Microsoft Dynamics GP SmartList work for you & Receivables

This video was made to show how to use Microsoft Dynamics GP SmartList for the practical tool of managing Documents.

Originally Posted March 18, 2011

This video was made to show how to use Microsoft Dynamics GP SmartList for the practical tool of managing what Credits, Returns and Payments need to be applied in Receivables Management. It also includes add SmartList to your menu bar and using Reminders on the Home Page.                         

Continue reading “Make Microsoft Dynamics GP SmartList work for you & Receivables”