Purchase Orders, widely known as POs, is vital for keeping track of your orders and inventory as well as for both forecasting and reporting purposes. As far as small businesses are concerned, they consider Purchase Order Processing (POP) a hassle or an accountant’s concern. Well they need to realize that POP is an essential part of any retailer’s or wholesaler’s day to day operation. Even if you use your supplier’s B2B portal, it is important to enter the same information into your system as well. Not only does it help streamlining internal buying procedures but also it provides management information about costs.
Here are some of the reasons why you should consider implementing a POP module, if you haven’t already:
- Cut time - intensive activities and increase efficiency. A single centralized system is linking all departments together and there is no need for paperwork. This also speeds up the movement of documents within and outside the company, because everything is in electronic format and staff can circulate the documents to each other instantly via e-mail and the internet.
- View your costs instantly. POP allows you to have information about your committed costs concerning Purchasing prior even to receiving the relative invoice. That is, when an order is placed in the system upon a specific supplier, you can view your costs immediately in the form of a Purchase Order, without waiting to receive an invoice and key it in the system. Therefore, at the same time POP allows you to have better control over your expenditures.
- Improve your cash forecasting. Recording Purchase Orders in your system and being able to define your future costs, enables you to predict your future cash flows more effectively.
WebSan Solutions offers Purchase Order Processing for Microsoft Dynamics GP to help you improve your vendor relationships and minimize your costs. For more information, join our webinar on Purchase Order Processing on October 17th.
Users should keep in mind that all banking transactions need to be processed through a Chequebook ID in order to display in that bank subledger & that one should NEVER post a general journal entry to a bank GL account. When we look at the Bank Transaction window, there is only a single Chequebook ID to allocate the transaction to. This is the account to which this transaction will apply. You will see in the lower portion of this window, you must explicitly state the other half of the GL portion of this entry. This should NOT be a bank GL account as a general journal entry to that bank GL will not affect that bank’s subledger.
A transfer of funds from one account to another should be completed through the Bank Transfer Entry window where possible. You will see on this window that there are two Chequebook IDs that must be identified. Thus, this transaction will affect two separate bank subledgers. One can only use this window wherein one of the account currencies is the functional currency (this is due to how GP treats the entries and is a restriction of the system). When you need to enter these types of transactions, you will have to enter TWO separate bank transactions. One will be an Increase Adjustment to the ‘to’ account, the other a Decrease Adjustment to the ‘from’ account while using a clearing account to flow the funds through.
Printers get jammed! It happens ... sometimes even when you are printing a cheque. Fear not, there is a solution. If your GP environment does not allow Duplicate Cheque Numbers (as per the Chequebook Maintenance window), you can simply add (or subtract) a leading zero from the Next Cheque Number field & voila, its a new, UNIQUE cheque number for GP to use.
Often, clients will ask why a particular Cash Receipt is not displaying in the Bank Reconciliation when it comes time to close the month. Many times, users will forget that a Bank Deposit is required before the transactions will display in the Chequebook subledger. This is an important security step as the same person receiving funds should not be the same person depositing those funds into the bank. Further, cash receipts are often grouped together when deposited into the bank, thus, making one single large bank transaction instead of many small transactions which may need to be reconcile.
To complete a Bank Deposit, navigate to Transactions > Financial > Bank Deposit. In this window, you will find three Types: Deposit with Receipts, Deposit without Receipts, Clear Unused Receipts. We recommend all clients use only Deposits with Receipts as this forces users to perform Cash Receipts from a Customer in order to deposit funds into the Bank. Depositing without Receipts can cause differences between the General Ledger and the Chequebook subledger due to the fact that the Bank Deposit Entry window does not have General Ledger distributions associated with it. Clear Unused Receipts only applies to situations where a Cash Receipt should not be deposited in the Bank which can also lead to differences between the General Ledger and the Chequebook subledger.
Our clients will often have the need to attach supporting documentation to transactions within Dynamics GP. These might be for odd / correcting entries, entries required by auditors, or large dollar value entries. Further, it is good practice to attach supporting documentation for transactions if possible.
To attach supporting documentation to a transaction within GP, select the yellow paper icon beside the transaction number within the entry window for that transaction. This icon is also available within master data setup widows & essentially every other window within GP. Once within this window, select the paperclip icon at the bottom of the window (Note: Your system admin may have to enable this functionality to have this icon appear). This will open a new OLE Container window wherein one can select Edit > Insert New Object. From here, the process is as simple as selecting the file & clicking Attach within the note window.
WebSan has found this feature very helpful to our clients whenever they need to track down the supporting documentation for a transaction. As transactions move throughout there life-cycle in Dynamics GP, they will maintain the supporting documents attached to them, making audits a breeze.
Once a project is finished, user should close out that project within Dynamics GP. This helps to avoid errant postings to the project & ensures accurate reporting.
To close a project within Microsoft Dynamics GP, first set the status of your project to Completed within the Project Maintenance window. Then, navigate to Project > Transactions > Project Closing to access the Project Closing window. Within this window, select the Contract Number that the completed project belongs to. All the completed projects for that contract should then appear in the listing below. To close a project, check the box under the Close column & select Process.
Users should note that even though a project is set to status of Completed, there may be additional transactions that may need to be completed prior to closing the project. If additional transactions are required, the box under the C* column will be blank. To obtain a listing of the transactions yet to be completed for a 'Completed' project, select the blue arrow beside the Project number field within the Project Closing window. This will open the Project Closing More info window wherein users are presented with a check list of all the tasks required prior to closing the project.
There are times when users may have completed check list items, but they do not display within GP as completed. If this occurs, it is good practice to run the PA Reconcile Utility. This utility will search through the GP transaction tables to verify what activities have truly been completed. To access this window, select Project > Utilities > PA Reconcile. Select a data set to reconcile and then click Process. The utility is fairly quick depending on the volume of data within your Dynamics GP environment.
It's a Friday afternoon, 3pm, going into a long weekend. You are already going to hit traffic heading up to the cottage if you leave now, however it won't be as bad as in a couple of hours. You just finished a modified SOP Blank Invoice Form and would like to import it into your client's production environment. As you click the import button in Customization Maintenance, your heart starts to race as you cross your fingers and pray that the REPORTS.DIC file is not locked by any users....and you get the "Unable to open customizations dictionary" message. The afternoon sun will have to wait until tomorrow.
When importing customized reports through Customization Maintenance, users accessing the reporting dictionary will need to log out of Dynamics GP to have the report import successfully. This can be a pain and a scheduling nightmare for users and yourself alike. "There has to be a better way!" Well, luckily, there is. If you have access to the REPORTS.DIC file found in the "Microsoft Dynamics/GP/Data" directory, then you can import the modified report straight from this dictionary file using Report Writer (this is assuming that you developed the report in a test environment and would now like to push it through to production). To do this, follow the steps below:
Step 1: Copy the REPORTS.DIC file from your test environment to a local or network shared drive that is accessible from the production server.
Step 2: Log into the production environment with 'POWERUSER' access and launch Report Writer (Microsoft Dynamics GP menu >> Tools> Customize >> Report Writer).
Step 3: Click 'Report', then click the 'Import' button:
Step 4: It will ask you to browse to the path of the REPORTS.DIC file that contains the modified report you would like to upload. Click the ellipse (...) and select the reporting dictionary that you saved from the test environment.
Step 5: All modified reports from this dictionary file will be displayed in the left menu. Select the one you would like to import and click 'Insert'. If a modified version of that report already exists in the production environment, it will ask you if you would like to overwrite the existing report. Click the 'Import' button.
Step 7: Close Report Writer and if prompted to save, click 'Yes'. If this is a newly modified report, don't forget to set the ID in Alternate/Modified Forms and Reports in the Administration module.
That's it! No more waiting for all users to log out of the system. The next challenge is sneaking by your boss's office without him noticing.
Our Time and Expense Management System offered by WebSan Solutions Inc. allows the employee to easily include and process any expenses that he or she may incur on a company credit card, along with any expenses that were not processed through the company credit card.
This feature is great for the finance department, as they don’t need to do any additional work on their end to process the expense, or to make sure that the appropriate amounts get paid to the employee and the credit card issuer. All that work is done by the employee who incurred the expense.
When an employee is set up with a company credit card, all he or she needs to do when entering in an expense, is to select the option in the drop down box that is provided and the system automatically sets up payments in Microsoft Dynamics GP to be paid to the credit card vendor for the marked entries.
By: Matt Locke, Application Developer, WebSan Solutions Inc. a Microsoft Dynamics GP Partner and 2013 Canadian Channel Elite Awards Finalist.
Want to learn more about Dynamics GP, enroll in one of our WebSan University courses. Course are instructor lead, contain certification tests & all students receive a certification of completion.
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