Microsoft Dynamics - Year end closing

This blog is dedicated to the year end closing process for Dynamics GP.

A common question asked by many! Payroll year-end procedures are independent from the other modules and are always performed at the end of the calendar year. Some modules such as Inventory and Fixed Assets should be closed at the end of the fiscal year BEFORE posting transactions in the next fiscal year. When these modules are closed, the dates the transactions were completed are not used in determining if they are part of the close, rather the closing processing will include anything that is posted since the last close was completed. With regards to the Receivables and Payables modules, you may see inaccuracy in certain fields in summary reports, SmartLists and information in summary windows if these modules are not closed prior to posting transactions in the next year. Therefore it is recommended to process the fiscal and/or calendar year-end close prior to posting transactions for the next year. **Note – There are scripts that can be run to correct some of the reporting information in the Receivables and Payables modules. Please contact your Partner to discuss scripts that may be used to display this data correctly. Also keep in mind, there is no year-end close process for Sales Order Processing or Purchase Order Processing, rather the close is for the Receivables and Purchasing module. There is a specific order that Microsoft recommends when performing the year-end close. The modules should be closed in the following order according to fiscal/calendar year: Payroll – Calendar (independent and always done at the end of a calendar year) (1) Inventory – Fiscal (2) Receivables – Fiscal/Calendar (3) Parables – Fiscal/Calendar (4) Fixed Assets – Fiscal (5) Analytical Accounting – Fiscal (6) General Ledger Fiscal **Analytical Accounting is part of the General Ledger close process. The steps for closing Analytical Accounting are outlined in the documentation for the General Ledger module.

Microsoft Dynamics GP 2013
U.S. PAYROLL YEAR END UPDATE FOR MICROSOFT DYNAMICS GP 2013
2017 US PAYROLL TAX TABLES R1 FOR MICROSOFT DYNAMICS GP 2013
Microsoft Dynamics GP 2015
U.S. PAYROLL YEAR END UPDATE FOR MICROSOFT DYNAMICS GP 2015
2017 US PAYROLL TAX TABLES R1 FOR MICROSOFT DYNAMICS GP 2015
Microsoft Dynamics GP 2016
U.S. Payroll Year End Update for Microsoft Dynamics GP 2016
2017 US Payroll Tax Tables R1 for Microsoft Dynamics GP 2016

Microsoft has released the U.S. 2017 Year-End updates for Microsoft Dynamics GP 2013, Microsoft Dynamics GP 2015  and Microsoft Dynamics GP2016. This update includes previously released Microsoft Dynamics GP service packs, hot fixes, compliance updates and module fixes as needed.  The U.S. 2017 Year-End update will be INCLUDED when Microsoft Dynamics GP 2018 ships in December 2017.
Do I need to install the Year End Update?
Required
Microsoft recommends installing the Year End Update. The Year End Update is required when you are on Microsoft Dynamics GP 2013, Microsoft Dynamics GP 2015 or Microsoft Dynamics GP 2016 and you have one of the following:
1. EFW2 changes (Electronic Filing, now due 1/31)
2. Product Quality Fixes around Payroll Year-End
3. Affordable Care Act Updates – Form and Code changes
4. Fixed Asset Luxury Auto Depreciation changes
For the calendar year 2017, there are no W-2 or W-3 form changes and no vendor 1099 form changes.
If your company requires Affordable Care Act (ACA), this will be available through the Human Resource (HR) module, which is FREE on GP 2013 R2 and later. If this is something that is needed, please contact your Partner to request setup information and/or assistance. Tracking ACA information will NOT be available in any build prior to Microsoft Dynamics GP 2013 R2.
Go to the following site for a complete list of updates and fixes for the 2017 U.S Year End update: https://community.dynamics.com/gp/b/dynamicsgp/archive/2017/11/17/the-2017-u-s-year-end-update-has-released
What is the Year End Update and where can I download it from?
This update is all-inclusive of prior updates for Microsoft Dynamics GP 2013, Microsoft Dynamics GP 2015 and Microsoft Dynamics GP 2016.
MICROSOFT DYNAMICS GP 2013 DOWNLOAD HERE
MICROSOFT DYNAMICS GP 2015 DOWNLOAD HERE
MICROSOFT DYNAMICS GP 2016 DOWNLOAD HERE

How to Use Microsoft Dynamics GP

How can you use Microsoft Dynamics GP in Pataskala Ohio in order to improve your business and help drive your company towards success? Well, it is fairly simple! This program is designed to be easy to use, so you can enhance your company without any hassles!

What Can It Do For You?

Microsoft Dynamics GP is a highly customizable program that is designed to grow alongside you and your company while providing you a number of different features to help you run your business! Some of the features it provides include sales, customer service, human resources, payroll, financial management, inventory management, business intelligence, accounting, operations, reporting, and much more! Basically, it is able to run the entire business for you while you control it at the tip of your fingers.

Dynamics GP can even automate many of the different processes of your business, so you will not have to worry about a thing! This will allow you to put your attention on more important aspects of the company.

Easy to Use

If you are familiar with other Microsoft programs such as excel, word, or outlook, then you will feel right at home with Dynamics GP! You can even use this nifty program on your smart phone and tablet as well, allowing you to easily manage and handle your company anywhere and everywhere!

When you first open up this program, you will notice a wide array of different things designed to help make it easier to run your business! As a matter of fact, the learning curve is pretty low because if you know how to use excel or word, then you will know how to use this program! Microsoft designed it to allow people to simply jump straight into it and start improving their businesses right away.

If you are interested in learning more about Microsoft Dynamic GP and how it can be used to improve your business and get you on the path to success today, simply give ERP Consulting LLC a call today at 740-951-0220. We are more than happy to answer any questions that you may have!

What is Microsoft Dynamics GP?

Microsoft dynamics GP is a program designed to assist small to medium sized companies with enterprise resource planning. This program allows you to have a greater amount of control over many different kinds of aspects of your company such as your operations, your inventory, and your finances. The best part is the fact that it is very easy to use!

Operations

When you are trying to run a successful company, it is very important to keep into mind a wide range of things regarding your operations. You need to keep into mind what your employees are doing, what you are producing, and how effectively your business is running. However, Microsoft Dynamics GP can help simplify the entire operations of your business and handle them all at the tips of your fingers! When your business becomes easier to run, you will be able to focus more on improving your company and earning success!

Inventory

Managing your inventory can be tricky at times, especially when you have plenty of products and items to manage. However, when you use the Microsoft Dynamics GP program, it will make inventory management a walk in the park! You will no longer have to worry about the huge hassles of managing every item and keeping tracking of everything because this program will handle it for you, allowing you to streamline your inventory and improving your productivity. After all, organization is the key to success!

Finances

Obviously, if you are going to run a successful business, you are going to need to make sure your finances are all in order! So how can you organize your money and make sure that it is being spent in effective ways? Simply use Microsoft Dynamics GP! This program can help keep all of your finances organized so you know exactly where your money is going and how it is being spent, so you can better control your business!

If you are interested in learning more about Microsoft Dynamics GP in Pataskala Ohio, simply give ERP Consulting LLC a call today! Our number is 740-951-0220, so do not hesitate because we are here to help you improve your business!

Microsoft Dynamic GP Manufacturing Features That Your Company Needs Most

One of the biggest issues in Manufacturing businesses is the lack of agility and efficiency. Like every other line of business, manufacturing greatly needs optimization in all the aspects of business, such as supply chains, financial management, materials management, among others. As an experienced business consulting firm, at ERP Consulting LLC, we have helped companies overcome these issues by implementing Microsoft Dynamics GP as an ERP Solution. The best thing about Microsoft Dynamics GP is that it comes in modules that are specially designed for every aspect and type of businesses. For example, in the manufacturing department, it offers comprehensive and powerful major features and add-ons that address and eliminates issues and inefficiencies and provides automation in transactions, including:

• Manufacturing Order Processing

  It’s one of the core features of the manufacturing module and streamlines the entire process of manufacturing. This function determines the many alternate assembly routes that are available for every manufactured item. To make the process accurate, it also enables easier tracking of production, machinery, and detailed labor information, such as skills, work hours, schedule, and shifts.

• Sales Forecasting and Configuration

  With this feature, you will be able to look back on the sales from the previous years for reference as well as a request for a sales forecast for a certain period of time in the future. This helps you understand whether or not there is a need for some changes in a certain department for the company’s continuous growth. The sales configuration function also provides amazing features, such as simplifying order process, enhance quoting and shipping of products, calculating total costs of every sold product, and estimating the completion date of every order.

• Financial Management

  One of the biggest issues that businesses face is inefficiency in financial management. Microsoft Dynamics GP overcomes this by automating processes. It automates every transaction process as well as payment adjustments for increased productivity. You can create budget templates as many times as you need and improve your financial and audit control.

• BOM

  Every finished product requires an active Manufacturing, Engineering, and Archived Bill of Materials. This feature lets you easily make changes and updates on the BOMs, as well as make alter revision levels and record their history for future reference. On top of all that, the software will also make a comprehensive analysis of finance, sales, and purchases, make complete and real-time reports, and simplify the management of payables and receivables.

• Inventory

  The latest version of Microsoft Dynamics GP also provides an inventory all-in-one viewer where you can access and view all the inventory information you need, such as quantity in, quantity moved, and quantity out. You will be able to see where a certain quantity is sent to or received from, along with extensive details about the transactions.

• Job Costing

  This helps make finance management efficient by spotting unreasonable cost contributors and variances and eliminate duplicate entries in the system that could possibly lead to errors in the future. Other than that, it also makes capturing job costs automated for enhanced efficiency.

Manufacturing can be really challenging and complex but with the speed and efficiency that Microsoft Dynamics GP provide, all tasks can be simplified and streamlined. You will have the ability to automate the major processes and transactions and retrieve all the information you need to make business decisions in complete detail. If you want outstanding business solutions to overcome inefficiency in your company and grow your business, ERP Consulting LLC has a team of professional consultants that are experienced in implementing Microsoft Dynamics GP in Pataskala Ohio to help you. Let’s begin the process of achieving your massive business success by calling us at 740-951-0220.

 

Dynamics GP Lockbox Processing and Write Off Functionality

This document is help in using the lockbox functionality in Dynamics GP.  Though the term lockbox is meant to represent a service provided by banks it can be used with any file representing monies from your customers.  

This definition should not need adjusting as we will manipulate our file to match it.  In this definition, we have made the following assumptions:

11)      The file will be a tab delimited file.

22)      The format type is single line, which means that the check information only takes one line.

33)      The decimal places in the file are 2.

44)      We want the invoices paid to be specific.  If there is not a match it is imported unapplied.

55)      The first record, the header, is ignored as its just text.

Other than for showing how we are changing a data file sent by your customer you should not need to go into the Lockbox Maintenance or make changes.

Data File

The data files sent to you by your customers can vary greatly.  We only need certain information from the file.  There are:

11)      Total check amount

22)      Check number

33)      Customer number

44)      Paid date

55)      Amount paid (per invoice)

66)      Invoice to apply to

77)      Row Indicator

As an example, see the screen shot below.

 

Depending on your customer you most likely will not have the check number, your customer number for them, or the row indicator.  You will add these to your file.  

The first line of your file is the header line.  The names and spelling are not important but they should stay in this order.  The first line of data is the check information.  The first column row 2 should be the check amount.  The next column is the check number.  If you have one, add it and copy down to all records.  The third column should be your customer number.  Again, enter it and copy down to all records.  The fourth column is the paid date.  This may be in your file.  If not, enter it and copy down to all records.  For the check record leave the amount paid and invoice number blank.  The last column you will enter the number 6.  This is what is called a row indicator.  6 means that it is the check information.  4 means it is invoice information.

For the detail of what is being paid you will start with row 3.  You will have already populated the check number and customer number in the above step.  The columns for Amount paid and Invoice number should be in the file you have been provided.  Copy them into these two columns.  Lastly enter the number 4 for the row indicator and copy down to the last record.

You now have the file in the order it needs to be in.  Now you will need to save it as a tab separated file.  See the image below.

 

 

  

Running Lockbox Processing

To run the lockbox processing go to the Sales Series, Transactions – Lock box entry.  You then pull up the windows below.  Do a lookup on Lockbox ID and find the Lockbox ID.  You will then need to find the file you created previously by browsing out to your computer.  The only other item required is a batch ID.  You can type in any alphanumeric characters.  When you tab off it will ask if you want to create the batch.  After creating the batch you will return to this window.  Click on transactions.

 

This will then import the transactions from your file, and like the normal cash receipts entry, will apply to each of the invoices in your file. You then be presented with the following screen.  It could have the green checkmark, which means it is fully applied, or it may have an exclamation mark for not fully applied.  If it has a red X you may have the wrong customer ID in your file.

When complete simply check the create batch and a cash receipts batch will be created.  You can then edit applied information or post to update your customer record.  This information will also go to your checkbook as a receipt.  You will then create a deposit to update your checkbook balance.

 

Taking care of Discounts and Writeoff’s

To address taking care of discounts taken on the invoices you just paid you can use the Write Off Documents feature in Dynamics GP.  You will select this from the Sales-Routines-Write Off Documents.  You will keep it using the type Underpayments.  You can filter on one customer.  Put in a write off limit.  You may want to look at your source file for the largest discount and enter it here.  You will also need to make sure that you allow write offs on the customer card under options.  That supersedes this window and without it marked with unlimited or a dollar amount, nothing will be done on this window.  After making these choices you can click on the Preview button.