Microsoft Dynamics GP Overview
May 30, 2017
Keeping financial affairs in order is one of the greatest challenges for a growing business — and if tracking your organization’s finances has become a challenge, it’s likely that you need new accounting software. Microsoft Dynamics GP is an enterprise resource planning solution that does far more than simply help you manage your accounts — it is a comprehensive financial management package for small and medium businesses. Microsoft Dynamics GP has the tools to increase your organization’s efficiency and the reporting capabilities to produce more intelligent decisions.
Some of the features of Microsoft Dynamics GP include:
- Stock management
- Sales management
- Customer service management
- Reporting and analytics
- Payroll management
Microsoft Dynamics GP has the ability to manage the financial aspects of every area of your business including supply chain, sales, accounts receivable and accounts payable. Let’s learn more about what Microsoft Dynamics GP can do for your organization.
Microsoft Dynamics GP provides all of the necessary accounting functions to make your organization work including accounts receivable, accounts payable, management of liquid capital, management of bank accounts, reconciliation of funds and management of multiple business departments.
Microsoft Dynamics GP simplifies human resource management by creating a profile for each employee and tracking the number of hours that employees work. It helps you comply with your region’s employment laws, and it even deposits wages into employees’ bank accounts automatically.
Microsoft Dynamics GP can manage your business’s inventory, let you know when it’s time to order more products and automatically generate the purchase orders for those products. Since Microsoft Dynamics GP links directly to your bank accounts, it can tell you how much you’re spending on inventory and help you control your costs. If can even tell you if you’ll need to change your budget to keep the necessary products flowing in.
Nothing is more important than ensuring that your company has the necessary incoming cash flow to cover expenses, source products, pay employees and continue growing. Microsoft Dynamics GP monitors your company’s financial situation and provides projections to help you plan for the future.
Microsoft Dynamics GP shows you the current financial status of your company at a glance — using reports and dashboards that you create. You can define the information that’s most important to your business.
Accounts Payable and Receivable
Using the reporting capabilities of Microsoft Dynamics GP, you can see your organization’s outbound payments — and incoming payments due — at a glance. Since your accountants will connect to an in-house or cloud-based server to see account information — rather than performing the calculations on their own computers — they’ll see the totals quickly and will enjoy greater productivity.
If your accountants like using Microsoft Excel to keep an eye on your organization’s budget, they’ll love what they can do with Microsoft Dynamics GP. You can make budget changes in Excel and import them into Microsoft Dynamics GP. You can also export budgets from Dynamics GP to Excel. With the audit trail in Dynamics GP, you’ll always know who has modified a budget and when the modification occurred. You can also use Dynamics GP to compare your projected budgets to what has actually occurred.
With Microsoft Dynamics GP, you’ll have full control over your product inventory. You’ll always know what’s in stock, and you’ll have projections to tell you when you’re likely to run out of certain products. You can even set custom prices for individual customers to maintain maximum profitability.
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