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Tips & Tricks (10)

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Is your company considering expanding its business across Canada? If so, Microsoft Dynamics GP has some fantastic features and functions that can assist your organization during its transition that will help ease the restructuring process:

Multicurrency Management – With the multicurrency management function, your organization can automatically perform currency conversions for all accounting transactions and seamlessly record realized or unrealized gains and losses in your organization. This allows you to seamlessly move money between currencies and streamline your foreign currency cash flow management.

Cloud Based Reporting – Gone are the days where a company’s systems and networks were fixed to one location. With Dynamics GP now available on the Cloud, you’ll be able to reduce the necessity for travel time and expenses and perform all your accounting, operations management, and reporting from anywhere and anytime.

Human Resource Management – Ensure that your company’s quality and standards are maintained. Utilize the human resource management features to attract potential new employees and automatically analyze and identify the best candidates that match your company’s desired skill sets. Additional features also include: customizable employee scheduling and pay rates, performance evaluation tools, as well as employee self-service features.

Unsure if Dynamics GP applies to your field of business? Contact Us and find out which Microsoft Dynamics product will best suit your business needs today.

Heimdall Sham, Digital Content Creator, WebSan Solutions Inc., a 2014 Ontario Business Achievement Award Winner for Service Excellence

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It’s no surprise that every business somehow uses Excel in their everyday routine. It’s the easiest and the most popular tool to organize your company’s data. But eventually your data starts to outgrow Excel possibilities. Here are 3 signs that your business needs to switch from spreadsheets to more advanced accounting software.

1. Your spreadsheets aren’t manageable anymore

If finding a single figure in your spreadsheet makes you feel tired, angry and irritated, it’s a sure sign that you need a database. Once your spreadsheet reaches 100,000 rows, it will slow down your computer and make it almost impossible to find necessary information. A comprehensive solution like Microsoft Dynamics GP can easily store your data with a possibility to create powerful and useful reports for your business. 

2. You use advanced Excel functions on a daily basis

Stop overwhelming yourself with advanced Excel functions every single day. If you use such functions as VLOOKUP, PIVOT and SUMIF, you just don’t need Excel anymore. Consider looking into a new accounting system, which can produce stronger calculations. Moreover, it’s much easier to use.

3. You need to secure your data

No matter what size your business is, you have some confidential data and Excel isn’t your friend in this case. An Excel file can be easily transferred through email or USB stick without you noticing. Just imagine, how big of a damage it can cause your business if one of your employees attaches the wrong file. You need a new accounting solution, if you have any confidential information.

Do these scenarios ring a bell? Then try our free Microsoft Dynamics GP Demo and do away with a headache from Excel forever. 


Alina Hura, Digital Content Creator, WebSan Solutions Inc., a 2014 Ontario Business Achievement Award Winner for Service Excellence

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With so many software solutions out in the market, we know it’s not always easy to decide on which Enterprise Resource Planning (ERP) software is right for you. To offer a suggestion and help answer questions on which Microsoft Dynamics product would be best suited for you, we’ve come up with a handy chart (included below) that outlines the features and modules included in each software solution.

While we outline the modules and features that each software is best known for, this chart merely serves as a guide. Contact us today for any additional questions or for more tips on which Microsoft Dynamics product can best suit your business’ needs. 

 

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Linz Tan, Web Marketing Assistant, WebSan Solutions Inc., a 2014 Ontario Business Achievement Award Winner for Service Excellence

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Nowadays, technologies change so quickly that it becomes challenging for executives to keep a pulse on the different things going on in the tech industry and sometimes even manage so many options out in the market. From on-premise to cloud, from desktop to mobile – it may be hard to believe, but those significant shifts happened with ERP software just in the past couple of years. Here are 3 trends that we’re forecasting will change the ERP software industry in the next 5 years.

Consumerization

As 75% of the global workforce will consist of millennials by 2025, ERP vendors should be prepared. ERP solutions will likely become easier and more intuitive to use as well as reflect the experience of the most popular social media platforms. Millennials like to get access to technology immediately, so it’s likely that ERP systems will become accessible from any smartphone.

Step into the future with Microsoft Dynamics NAV, which is already available on smartphones and tablets. Download our free Microsoft Dynamics NAV trial right now!

Business Intelligence and Data

Data is just a bunch of numbers if you can’t get any insights from it. That’s why future ERP systems will continue to improve business intelligence modules to make them process more detailed and deeper reports, which can turn data into a competitive advantage.

Fragmentation

We can already catch the change in ERP implementation – companies more often give a preference to multiple point ERP solutions (e.g. warehouse management system) over full ERP systems. The reasons behind this preference are lower costs, lower risks and shorter period of implementation. So, in the nearest future we will see more fragmented ERP systems that will simplify business processes for companies.

Get to know whether you’re on track with all ERP trends by downloading our free ERP assessment.


Alina Hura, Digital Content Creator, WebSan Solutions Inc., a 2014 Ontario Business Achievement Award Winner for Service Excellence

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ERP implementation is a quite an expensive and difficult process not only for small companies but for some multinational giants as well. However, with full preparation and thorough research to manage expectations, a successful ERP implementation can be achieved. Below, we outline the 3 biggest failure cases of ERP implementation and offer tips on what you can do to avoid the same mistakes.

Nike and a $400 Million “Glitch”

In 2000, Nike decided to upgrade their ERP system and invested $400 million dollars into the software called i2, where their initial goal was to manage supply chain and forecast the demand for products. This decision became a disaster for shoe giant with $100 million in sales loss and 20% stock price decrease because of a software glitch, which in turn, made stores unable to fill orders for the Air Jordans.

To avoid the same mistake, be sure to set realistic goals for your ERP implementation process early on and ensure that you take enough time to test the system for any kinks that need to be ironed out before moving forward with implementation.  

Hershey and a Halloween Disaster

July of 1999 is a month which everybody in Hershey would rather want to forget because of the new ERP system launch that proved to be unsuccessful. A total of $112 million in investments were supposed to create an integrated ERP environment. However, this decision led to delivery problems of $100 million worth candies for Halloween 1999.

To make sure that your ERP implementation will go smoothly, set enough time to train the employees on a new software and don’t skip any steps in the testing process recommended by your ERP system provider.

Hewlett Packard and Lost Orders

In 2004, ERP implementation in HP was supposed to result in saved costs, shorter delivery time and development of a world-wide distribution network but brought $160 million of losses instead. A failure in migration resulted in 20% of orders to be trapped in the old ERP system

If you don’t want to be in HP’s shoes, plan the internal implementation process very carefully, otherwise it may lead to a lot of small mistakes and ultimately, a big failure in the end.

For more tips and techniques on how to save your company from an ERP implementation disaster, download our free ERP whitepaper.

 

Alina Hura, Digital Content Creator, WebSan Solutions Inc., a 2014 Ontario Business Achievement Award Winner for Service Excellence

Thursday, 02 April 2015 18:42

Customize your Menu Bar in Microsoft Dynamics GP 2013

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The menu bar in Microsoft Dynamics GP helps a user to easily manoeuvre around Great Plains. To optimize this feature, you can benefit from modifying and adding commonly used buttons in the menu bar. You can add buttons that fall under a variety of categories such as Financial, Sales, Purchasing, Inventory and Manufacturing.

In the menu bar, right click to add buttons:

customize menu bar GP - 1

Users are not limited to the default buttons presented in Great Plains. Buttons can be customized depending on the features that your business will need. 

customize menu bar GP - 2

To customize a button, right click on “Customize,” then choose the “Main” option and click “Add” to follow along the menu path to select which button you’d like to add. 

customize menu bar GP - 3

To learn more about Microsoft Dynamics GP’s capabilities, download our FREE interactive demo!

 Download our FREE Dynamics GP Interactive Demo 

 

Linz Tan, Web Marketing Assistant, WebSan Solutions Inc. a 2014 Ontario Business Achievement Award Winner for Service Excellence

Wednesday, 25 March 2015 13:55

Month End in Microsoft Dynamics GP

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There are many articles that can be found detailing year-end processes in GP, but what about your month-end processes?  Dynamics GP uses a ‘soft’ close concept wherein periods are not required to be closed.  Further, periods can be reopened if needed.  However, performing a month-end is critical to ensuring you can move forward within your system without any fear of inaccuracies.

Prior to performing any special or unfamiliar processes, it is always recommended that users have a proper backup of the system.  Your system administrator should ensure backups are regularly scheduled and available if needed. 

It is recommended that the month-end process start with the POP and SOP modules.  One can think of both of these modules as feeder modules to Payables, Receivables, Fixed Assets, Bank Reconciliation and the General Ledger.  In these modules, you should ensure all batches are posted within Series Post.  Ensure all Customer Orders, Vendor Receipts and everything in between are posted.  Further, within Purchasing, one should print the Received Not Invoiced report via Reports > Analysis.  This report should tie to your accrued purchases. 

Once the above are reconciled, one should move onto the Payables and Receivables module.  For each, users should ensure all documents are properly applied, especially if multiple currencies are in use, as this will affect realized gain and loss entries.  Users can check for unapplied documents by navigating to Sales > Reports > Analysis > Unapplied Documents Report.  Further, users should also run the Reconcile to GL option within Financials in order to ensure these subledgers and GL match.  The same routine should be performed for the Inventory module.

Once all subsidiary modules are complete, uses should close out the Financial modules.  First, users should complete bank reconciliation and reconcile the Bank to the GL via the associated Financial Routine.  Users can then move onto closing the Fixed Assets module.  Remember to ensure Payables are closed prior to processing anything in Fixed Assets given the Payables feeds the Fixed Assets module.  Within Fixed Assets, users need to double check that all additions and retirements are posted.  Depreciation will need to be run and all related GL processes complete. 

Within the General Ledger itself, all accruals should be posted.  Only recurring batches should be left in your Series Post after the necessary transactions have been posted.  The General Ledger will always be the last module to close. 

Once all of the above are closed, users should mark the period as closed within the Fiscal Period Setup window in GP. 

All of the above should be repeated at the end of each period.  Given these are repeated processes, users should consider adding them to a Checklist within GP.

One last item for users to remember when closing the month is that transactions for a new period can be posted without closing out the prior period. 

Adam MacIntosh, Manager of Client Services with WebSan Solutions Inc., a Microsoft Dynamics Partner firm.