Dynamics GP – 50 Tips in 50 Minutes
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Financials
Tip #1 – Speed Up GL Distribution Entry
Account Alias
In any GL Distribution Entry window, click the arrow next to the Account Lookup button or type Ctrl+Q.
Dynamics GP – 50 Tips in 50 Minutes
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Enter the Alias and tab off the field.
Dynamics GP – 50 Tips in 50 Minutes
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Financials
Tip #2 – Prevent Posting to Control Accounts
Allow Account Entry
Unmark "Allow Account Entry" in Account Maintenance.
Dynamics GP – 50 Tips in 50 Minutes
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Financials
Tip #3 – Streamline New Account Entry
Account Segment Descriptions
Tools >> Setup >> Financial >> Segment Enter a Description for each Segment ID, including the Account Segment.
The Account Description is populated by the Description for each of the Account
Dynamics GP – 50 Tips in 50 Minutes
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Financials
Tip #4 – Reinstate Account Segment Descriptions Notifications
Run a SQL Script
To restore the message, run this script in Query Analyzer for each GP company. Substitute the appropriate
user ID for "myUserID".
delete from SY01401
where USERID = 'myUserID'
and coDefaultType = 13
If a new Segment is entered in Account Maintenance, GP will prompt to add the Description.
Yes opens the Account Segment Setup window.
No allows manual entry of the Account Description.
Dynamics GP – 50 Tips in 50 Minutes
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Financials
Tip #5 – Duplicate a Journal Entry
Journal Entry Copy
To duplicate a posted Journal Entry, click the Copy button at the top of the General Ledger Transaction Entry window.
Dynamics GP – 50 Tips in 50 Minutes
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Dynamics GP – 50 Tips in 50 Minutes
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Financials
Tip #6 – Correct a Journal Entry
Journal Entry Correct
Correct a posted Journal Entry by clicking the Correct button.
Back Out a Journal Entry will reverse the original entry.
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Select the Original Journal Entry Year and lookup or enter the Original Journal Entry number.
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Posting the backout entry creates an unposted correcting entry.
Dynamics GP – 50 Tips in 50 Minutes
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Financials
Tip #7 – Link Adjustments to Originating Transactions
General Ledger Transaction Matching
Dynamics GP – 50 Tips in 50 Minutes
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Dynamics GP – 50 Tips in 50 Minutes
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Financials
Tip #8 – Identify Fiscal Periods
Rename Fiscal Periods
Dynamics GP – 50 Tips in 50 Minutes
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Financials
Tip #9 – Control Posting to Closed Periods
Fiscal Period Mass Close
Click on the Mass Close button in Fiscal Period Setup.
Dynamics GP – 50 Tips in 50 Minutes
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Dynamics GP – 50 Tips in 50 Minutes
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Financials
Tip #10 – Guard Against Fraud
Reconcile Bank Account Daily
Dynamics GP – 50 Tips in 50 Minutes
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Financials
Tip #11 – Expose Account Setup Errors
SmartList
SmartList >> Financial >> Accounts
Search for all Accounts with a Posting Type of Balance Sheet, and an Account Type of Posting Account.
Choose to display the Account Number, Account Description, and Posting Type columns.
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Re-sort the SmartList (decending) by Account Number to easily identify the Accounts that don't belong. Double-click on the Account to open Account Maintenance and change the Posting Type.
Dynamics GP – 50 Tips in 50 Minutes
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Financials
Tip #12 – Track Deferred Expenses
Revenue & Expense Deferrals
To automate the expense posting for a prepaid expense, define a Deferral Profile that references the Cost Recognition and Deferral Account. Choose to apply the expense recognition to Payables Management transactions with a Distribution Type of PURCH. Set the
Calculation Method to Equal Per Period, and the Number of Periods over which the expense is typically deferred.
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... the associated Deferral Profile is used to allocate the expense to the appropriate periods. This can be found in the "Additional" menu on the Payables Transaction Entry Distribution window.
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Purchasing and Inventory
Tip #13 – Track Use Tax
Credit Card
Set up a Credit Card for each tax jurisdiction. Check Used by Company and enter the Vendor associated with the jurisdiction.
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Posting the Payable creates an open invoice for the original Vendor with the pre-tax amount ...
... and also creates an open invoice to the jurisdiction Vendor for the amount of the tax.
Dynamics GP – 50 Tips in 50 Minutes
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Purchasing and Inventory
Tip #14 – Manage Vendor Payment Priority
Payment Priority
Assign Payment Priority to Vendors. Keep it simple ... for example, Payment Priority 1 is for the highest priority Vendors.
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Purchasing and Inventory
Tip #15 – Combine Duplicate Vendors
Vendor Combiner
VENDOR1 transactions.
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Run Professional Services Tools Library Vendor Combiner.
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VENDOR2 results.
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Purchasing and Inventory
Tip #16 – Copy a Purchase Order
Purchase Order Copy
In Purchase Order Entry, choose Actions >> Create and Copy New PO.
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Click Preview to review and select the Items to add to the new Purchase Order. Click OK to close the window.
Dynamics GP – 50 Tips in 50 Minutes
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Purchasing and Inventory
Tip #17 – Copy an Inventory Item
Item Copy
Enter a new item number and click Copy.
Dynamics GP – 50 Tips in 50 Minutes
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Dynamics GP – 50 Tips in 50 Minutes
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Purchasing and Inventory
Tip #18 – Track Inventory Transfers
In-Transit Inventory Transfers
Complete the In-Transit Transfer
information. Note that a "Via Site" can be tracked, as well as any Landed Costs associated with the transfer.
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Generate a Packing List to accompany the transfer.
Click the Ship button to record the shipment.
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Receive the Inventory using Receivings Transaction Entry window. Choose the "In-Transit Inventory" Type.
Inventory is removed from the Via Site ...
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Purchasing and Inventory
Tip #19 – Speed Up Inventory Reconcile
Item Reconciler
What's the difference between GP Inventory Reconcile and PSTL Inventory Reconcile?
Inventory Reconcile runs the reconciliation process, even if the item doesn't need reconciling
Dynamics GP – 50 Tips in 50 Minutes
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Sales
Tip #20 – Automate Write-Offs
Write-Off Documents Routine
Choose the Write-off Type, limit, and cut-off date. Filter for specific customers or choose All. Determine how to handle National Account write-offs.
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Processing will create a Receivables
Dynamics GP – 50 Tips in 50 Minutes
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Sales
Tip #21 – Account for NSF Checks
Define the NSF Charge that will be charged to customers who have returned checks.
Identify the check that was returned and click NSF.
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The original Cash Receipt is voided and tagged as NSF.
Any invoices applied to the Cash Receipt are set to open and unapplied.
Dynamics GP – 50 Tips in 50 Minutes
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Sales
Tip #22 – Generate Refund Checks
Refund Checks
Determine which Customers or Documents to be refunded.
Create a Vendor for the Customer, if necessary.
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Click Process, then Transfer to move the Receivables credit balance to Payables.
Dynamics GP – 50 Tips in 50 Minutes
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Sales
Tip #23 – Maintain Customer Payment Plans
Scheduled Payments
Create and post scheduled payment plans for Customers, including interest.
Dynamics GP – 50 Tips in 50 Minutes
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Dynamics GP – 50 Tips in 50 Minutes
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Sales
Tip #24 – Copy a Sales Order
Sales Order Copy
Complete the header information on the new Sales Order, then choose Actions >> Copy.
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Click Preview to mark or unmark items to be copied.
Dynamics GP – 50 Tips in 50 Minutes
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Sales
Tip #25 – Access Inventory Quantities in Sales Transaction Entry
Item Site Lookup
In the Sales Order line, click the Item Lookup, then choose View >> Item Site.
