Dynamics Gp General Ledger Module Functionality That Is Powerful, But Maybe You Do Not Use It

Dynamics Gp General Ledger Module Functionality That Is Powerful, But Maybe You Do Not Use It

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If you are working for small or mid-size organization, GL module is probably just receiving transactions from peripheral modules, such as RM, AP, POP, Sales Order Processing, Payroll. These transactions typically posted through General Ledger and you just keep your eye on what is going on there via FRx reports and maybe Trial Balance. However , directly in General Ledger you may enjoy such features as Budgets (including its export, or creation in Excel and then import back to Great Plains), Quick Journal (where you have all the accounts preset for quick debit and credit amounts entry), Recurring Batches (where you can post multiple times via specific time interval the same transactions), Clearing Transactions (where you can move the balance from the account which is no longer used, to make it inactive, purge its history and delete in the next year). Lets begin with Quick Journal:

1.Outsourced Payroll records entry in GL. Even if you outsource payroll services (meaning that you do not have US Payroll module implemented in GP), you probably still have to enter payroll expense and taxes in General Ledger. Here is where you deploy Quick Journal

2.Unit, Fixed and Variable Allocation Accounts. These accounts help you to keep track of quantities (number of employees, miles driven, etc.), as well as statistics. Unit account could be added to regular GL entry, however it is not double entry compliant (it will still be posted to GL20000 table, so debit and credit might be not equal in SQL Select statement the reason is simple some of the records are associated with Unit accounts. Please, note that you can have such tools as Budgets for Unit accounts)

3.Taxes in GL. Please, look at Company Settings Options, check Calculate Taxes In General Ledger Box. At this point, if you open GL Entry on the left bottom part of the form you will see Tax Entry push button. Tax portion of the distribution will go as additional lines on the JE. You cannot modify the amounts or accounts for Tax distribution lines, if you try to do that you will get error message: This distribution was created on a tax amount. It cant be modified. If you would like to redo tax portion, consider deleting tax related rows in the GL form distribution scrolling window

4.Using letters as part of the Account segment in Account Maintenance Form. Sometimes customers are complaining that if they use letters, especially wide ones: G, W, Q in the Account Maintenance form the segment with letters looks like chopped. Please, open Setup -> Company -> Account Format Setup. Locate the segment with truncated portion of the letter and change Display Width from Standard to Expansion 1, 2 or 3 (here 3 should be used for the widest letters, such as W)

5.Assigning GL Entry to the Reporting Ledger. If your company goes internationally, and you have to comply GAAP, US and local subsidiary (overseas) reporting, you can consider switch on Reporting Ledgers in GL Setup. This feature is available in the version 2010, 10.0 (we didnt check for 9.0 and 8.0, but in 7.5 it was not available). There are three predefined ledgers: IFRS (International Financial Reporting Standards), LOCAL (local country accounting rules), BASE (where Local and IFRS are combined). Please, be aware that before recommending GP as your overseas Accounting application, you have to check if it is localized for the targeted country

6.Simple of Advanced Financials versus FRx or Microsoft Management Reporter. If you are following GP implementation guidelines, you probably have each of the financial posting accounts created with the right category (there are 48 predefined categories). In fact, categories are not used in FRx, they are used to give you default Balance Sheet and Profit and Loss statement in Advanced Financials (this is also applicable to Small Business Financials 7.5, 8.0, 9.0)

7.Predefined Posting options. Look at Setup -> Posting. Here if you select Create General Entry Per Batch and mark Use Account Settings distribution will be created based on the settings for each involved account: Sales, Purchasing Inventory, Payroll detail or summary

8.Posting to Open and Historical Years. Well, this is a puzzle, as you may have unlimited number of open years to be present, however you can post only into two of them. Regarding Historical years, obviously there is no limit on the closed years to be out there, but you can post your transactions to the most resent closed year only (here be sure that in GL Settings you mark Posting To History checkbox)

9.Organization Structure, Linking Transactions, Multidimensional Analysis these will be discussed in the future publication

10.If you are one the older version of Great Plains: 7.5, 7.0, 6.0, 5.5, 5.0, 4.0, or Great Plains Accounting for DOS< Windows or Mac, then some of the topics might not be relevant (available) to your version. We are trying to keep consultants, who are capable to support all ever released versions or Great Plains

11.GL Data conversion. The best results could be achieved with Integration Manager. However there is cheaper option to move Chart of Account to new GP company. Use SQL Insert Statement to move accounts to GL00100 table (review TWO GL00100 table to build your insert query), then rescue to Check Links on Account Master table cluster this should complete the job of importing Chart of Accounts

12.OLE Notes. By default each user is saving her or his own notes in Dynamics GP folder in Program Files. This could be changed in Dex.ini, find OLEPass line and change it on all user workstations to look at the shared folder at the Server

13.Maximums. There are restrictions on the number of segments and the length of the final account for each company. You can only max it at 66 characters (letters and numbers) and 10 segments. There are other restrictions, for example, you can only have 367 periods in the fiscal year. This restriction is in synch with the recommendation to close all you fiscal periods (366, if you are using each day as a period), and then open the last period with the same dates are the last one to post auditing related correction transactions

14.Retaining Earnings Closing Options. Here you can consider several strategies. If you are sole proprietor, it is probably fine to select Posting Account. However if you are LLC or partnership, consider having Retaining Earning account as Fixed Allocation (where each partner has fixed percentage to be distributed at the end of the year). If you are corporation, consider marking Close to Divisional Account Segments

15.Account Alias. If you organization decides to implement really complex account structure, where number of segment s might exceed ten, or even more, consider using account aliases. They could be entered in GL Journal Entry form instead of full length of account ID

16.Please call us 1-866-304-3265, 1-269-605-4904.

About the Author:
If you are working for small or mid-size organization, GL module is probably just receiving transactions from peripheral modules, such as RM, AP, POP, Sales Order Processing, Payroll. These transactions typically posted through General Ledger and you just keep your eye on what is going on there via FRx reports and maybe Trial Balance. However , directly in General Ledger you may enjoy such features as Budgets (including its export, or creation in Excel and then import back to Great Plains), Qu



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