Mekorma Upgrade Notice for Dynamics GP

Mekorma released this upgrade notice with their June Newsletter.  The bulletin is reprinted, below, in its original form.

*Important Upgrade Notice*

Mekorma has found that the latest Microsoft Windows .Net 4.7 Framework Update is causing an issue with the Mekorma MICR Software functionality. Even if you are not currently experiencing these issues, it is highly recommended that you upgrade your software now to avoid the issue before it occurs.
The two common behaviors you may encounter exhibiting this problem include:

• Security warning stating users are not authorized to print out of checkbooks.
• Warning: Unhandled object exception: The parameter is incorrect.

Note: Not all Windows programs lists that have these KB's installed name the .Net 4.7 Framework. Regardless, if any of the following KB's are installed, the guidelines below for upgrading due to .Net 4.7 incompatibility would still apply:

• KB3186497
• KB3186505
• KB3186539
• KB3186568

The current builds on our website resolve these issues and support Windows 10 and .NET Framework 4.7. Please go to our download page and install the build of Mekorma that matches the GP version you are currently on. If you are on an earlier version of GP 2013 prior to R2, please contact support@mekorma.com  for a special build. You will need to run the Mekorma table update after upgrading. Please ensure all Mekorma workstations are upgraded to the same build. If you have any questions, please contact support@mekorma.com or call 888-MEKORMA option 2.
We appreciate your patience and understanding and your support of Mekorma products.
Please contact us for more information on updating your Mekorma install or contact us about  how we can help you with a Dynamics implementation or upgrade.
Send an email to Support@dynamicsmct.com or call us at Toll Free:  +1.780-555-6144.
Submitted by Judith Hirst CPA, CMA MCP Senior Financial Analyst
www.dynamicsmct.com

Year-end closing procedures for Receivables Management in Microsoft Dynamics GP

Several clients have asked for detailed steps for closing the Receivables Management module in Dynamics GP.

The information below comes from Microsoft Support, Article ID: 857444, updated September 16, 2016. We hope this helps with the Receivables year end close.

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Year-end closing checklist

You can use this checklist for the end of the fiscal year and for the end of the calendar year. 

Note Although Receivables Management is date sensitive, the following items are updated based on the closing of Receivables Management:

• The SmartList objects
• The Receivables Management summary reports
• The Amounts Since Last Close view in the Customer Summary window

Therefore, we recommend that you follow these steps so that the SmartList objects, the Receivables Management summary reports, and the Amounts Since Last Close view contain the correct information:

1. Post all the sales and receivables transactions for the year.
2. Make a pre-year-end closing backup.
3. Close the year.
4. Close the fiscal periods. (This step is optional.)
5. Close the tax year.
6. Make a post-year-end closing backup.

Step 1: Post all the sales and receivables transactions for the year

Post all the sales and receivables transactions for the year before you close the year. If you want to enter any sales and receivables transactions for a future period before you close the year, create a batch that contains the transactions. Next, save the batch. Then, post the batch after you close the year.

You must close the year because some areas of Microsoft Dynamics GP are not date sensitive. If you do not close the year after you enter all the current year transactions and before you enter transactions for the next year, these areas will contain incorrect information. However, if you have to change the information, you can change the information in the Amounts Since Last Close view in the Customer Summary window and in the Customer Finance Charge Summary window. The following areas are the areas of Microsoft Dynamics GP that are not date sensitive.

• The Amounts Since Last Close view in the Customer Summary window
  --To open the Amounts Since Last Close view in the Customer Summary window, follow these steps:
  1. On the Cards menu, point to Sales, and then click Summary.
  2. In the Customer Summary window, type a customer ID in the Customer ID box.
  3. In the Summary View list, click Amounts Since Last Close.
• The Customer Finance Charge Summary window
  To open the Customer Finance Charge Summary window, follow these steps:
  1. On the Cards menu, point to Sales, and then click Summary.
  2. In the Customer Summary window, type a customer ID in the Customer ID field.
  3. Click Finance Charges.
• The SmartList objects
  To view the SmartList columns that are affected, follow these steps:
  1. In Microsoft Dynamics GP, click Columns on the Microsoft Dynamics GP menu, click SmartList, expand Sales, expand Customers, and then click Add.
  2. Select the following items in the Available Columns list.
     Note The items that are flagged with an asterisk are affected by the calendar year-end close. All the other items are affected by the fiscal year-end close.
     • Average Days to Pay - Year
     • Finance Charges CYTD*
     • Finance Charges LYR Calendar*
     • High Balance LYR
     • High Balance YTD
     • Number of ADTP Documents - LYR
     • Number of ADTP Documents - Year
     • Number of NSF Checks YTD
     • Total # FC LYR*
     • Total # FC YTD*
     • Total # Invoices LYR
     • Total # Invoices YTD
     • Total Amount of NSF Check YTD
     • Total Bad Debt LYR
     • Total Bad Debt YTD
     • Total Cash Received LYR
     • Total Cash Received YTD
     • Total Discounts Available YTD
     • Total Discounts Taken LYR
     • Total Discounts Taken YTD
     • Total Finance Charges LYR*
     • Total Finance Charges YTD*
     • Total Returns LYR
     • Total Returns YTD
     • Total Sales LYR
     • Total Sales YTD
     • Total Waived FC LYR*
     • Total Waived FC YTD*
     • Total Writeoffs LYR
     • Total Writeoffs YTD
     • Unpaid Finance Charges YTD*
     • Write Offs LYR
     • Write Offs YTD
  3. Click OK.
  4. Click OK.

Step 2: Make a pre-year-end closing backup

Create a backup before you close the year. Put the backup in safe, permanent storage. This backup makes sure that you have a permanent record of the company's financial position at the end of the year. You can restore information from this backup if you have to. For example, this backup would let you quickly recover if a power fluctuation or another problem occurred during the year-end close procedure.
To create a backup in Microsoft Dynamics GP, follow these steps:

1. In Microsoft Dynamics GP, point to Maintenance on the Microsoft Dynamics GP menu, and then click Backup.
2. In the Back Up Company window, select the company name in the Company Name list.
3. Change the path of the backup file if it is required, and then click OK.
   Note We recommend that you name this backup PreYearEndClosingBackup20XX. (Enter the year for the XX placeholder.)

Step 3: Close the year

1. In Microsoft Dynamics GP, point to Tools on the Microsoft Dynamics GP menu, point to Routines, point to Sales, and then click Year-End Close.
2. If you are closing both the fiscal year and the calendar year at the same time, click All. If you are closing only the calendar year, click Calendar. If you are closing only the fiscal year, click Fiscal.
3. Click to select the Print Report check box, and then click Close Year.
   Note We recommend that you keep a paper copy of the year-end report together with the permanent year-end audit records.

Calendar year details
The calendar year-end process in Microsoft Dynamics GP clears the following fields in the Customer Summary window:

• Finance Charges CYTD
• Total # FC YTD
• Total Finance Charges YTD
• Total Waived FC YTD
• Unpaid Finance Charges YTD

The calendar year-end process updates the amounts in the following fields:

• *Finance Charges LYR Calendar
• *Total # FC LYR

Fiscal year details
The fiscal year-end process in Microsoft Dynamics GP clears the following fields in the Customer Summary window:

• Average Days to Pay - Year
• High Balance YTD
• Number of ADTP Documents - Year
• Number of NSF Checks YTD
• Total # Invoices YTD
• Total Amount of NSF Check YTD
• Total Bad Debt YTD
• Total Cash Received YTD
• Total Discounts Available YTD
• Total Discounts Taken YTD
• Total Returns YTD
• Total Sales YTD
• Total Writeoffs YTD
• Write Offs YTD

The fiscal year-end process updates the amounts in the following fields:

• High Balance LYR
• Number of ADTP Documents - LYR
• Total # Invoices LYR
• Total Bad Debt LYR
• Total Cash Received LYR
• Total Discounts Taken LYR
• Total Returns LYR
• Total Sales LYR
• Total Writeoffs LYR
• Write Offs LYR

Step 4: Close the fiscal periods (This step is optional)

To prevent users from accidentally posting transactions to the wrong period or to the wrong year, use the Fiscal Periods Setup window to close all fiscal periods that are still open for the year. Before you close fiscal periods, verify that you have posted all the transactions for the period and for the year for all modules. If you must later post transactions to a fiscal period that you already closed, you can return to the Fiscal Periods Setup window to reopen the period so that you can post the transactions.
To close a fiscal period, follow these steps:

1. In Microsoft Dynamics GP, point to Tools on the Microsoft Dynamics GP menu, point to Setup, point to Company, and then click Fiscal Periods.
2. Click to select the Sales check box for the period that you want to close.

Step 5: Close the tax year

Note Follow these steps only after you complete the year-end closing procedures for all the sales and purchasing modules.
To close the tax year, follow these steps:

1. In Microsoft Dynamics GP, point to Tools on the Microsoft Dynamics GP menu, point to Routines, point to Company, and then click Tax Year-End Close.
2. Click to select the Close Year check box, and then click to select the Print Report check box.
3. Click Process.
   Note We recommend that you keep a paper copy of the year-end report together with the permanent year-end audit records.

Step 6: Make a post-year-end closing backup

Create a backup after you close the year. Put the backup in safe, permanent storage. This backup makes sure that you have a permanent record of the company's financial position at the end of the year. You can restore information from this backup if you have to. For example, this backup would let you quickly recover if a power fluctuation or another problem occurred during the year-end close procedure.
To create a backup in Microsoft Dynamics GP, follow these steps:

1. In Microsoft Dynamics GP, point to Maintenance on the Microsoft Dynamics GP menu, and then click Backup.
2. In the Back Up Company window, click the company name in the Company Name list.
3. Change the path of the backup file if it is required, and then click OK.
   Note We recommend that you name this backup PostYearEndClosingBackup20XX. (Enter the year for the XX placeholder.)

Year-to-date finance charges on customer statements for December and for January

Year-to-date finance charges are not automatically printed on customer statements for December and for January.

December statements

To add the year-to-date finance charges to the December statements, follow these steps:

1. In Microsoft Dynamics GP, point to Tools on the Microsoft Dynamics GP menu, point to Customize, and then click Report Writer.
2. In the Product list, click Microsoft Dynamics GP, and then click OK.
3. Click Reports.
4. Use the appropriate method:
   • If you have not previously modified the statement form, click the statement form that you print in the Original Reports list, click Insert, and then click the statement form in the Modified Reports list.
   • If you previously modified the statement form, click the statement form in the Modified Reports list.
5. Click Open.
6. In the Report Definition window, click Tables.
7. In the Report Table Relationships window, click RM Customer MSTR, and then click New.
8. In the Related Tables window, click Customer Master Summary, and then click OK.
9. Click Close.
10. Click Layout.
11. In the resource list in the Toolbox box, click Customer Master Summary.
12. In the field list, drag Finance Charges CYTD to the layout of the report. You can position this field in any section of the report.
13. On the File menu, click Microsoft Dynamics GP. When you are prompted to save the changes, click Save.
14. If you have not previously modified this report, you must grant security to the report. To do this, use the steps below:
    1. On the Microsoft Dynamics GP menu, point to Tools, point to Setup, point to Systems, and then click Alternate/Modified Forms and Reports.
    2. In the ID box, enter the user ID.
    3. In the Product list, click
       Microsoft Dynamics GP.
    4. In the Type list, click Reports.
    5. Expand Sales, and then expand the node of the modified form.
    6. Click Microsoft Dynamics GP (Modified).

January statements

To add the year-to-date finance charges to the January statements, follow these steps:

1. Follow steps 1 through 11 in the "December statements" section.
2. In the field list, drag Finance Charges LYR Calendar to the layout of the report. You can position this field in any section of the report.
3. Follow steps 13 and 14 in the "December statements" section.

Please contact us for more information on managing your year end close or contact us about  how we can help you with a Dynamics implementation or upgrade.

Send an email to Support@dynamicsmct.com or call us at Toll Free:  +1.780-555-6144.

Submitted by Judith Hirst CPA, CMA MCP Senior Financial Analyst

www.dynamicsmct.com

Dynamics GP–Combine Multiple Budgets into a Master Budget

Figure 1 – Budget Maintenance window in Dynamics GP
You can combine multiple General Ledger budgets into a single, master budget, one budget at a time. The master budget can be completely new and have its own budget ID, or it can be one of the two original budgets. This feature is helpful when multiple departments in your organization create their own budgets, which must then be consolidated. The new Combine Budgets window simplifies this process.

Figure 2 – Combine Budgets window in Dynamics GP
After you have completed the Combine Budgets process, you can use the Budget Selection window (Financial >> Cards >> Financial >> Budgets) to view all budgets in the system, including budgets created in Excel and imported into Microsoft Dynamics GP.
For more information on Dynamics GP or to ask questions about how we can help you with a Dynamics ERP implementation, send an email to Support@dynamicsmct.com or call us at Toll Free:  +1.780-555-6144.
Submitted by Judith Hirst CPA, CMA MCP Senior Financial Analyst
www.dynamicsmct.com

Tool Tip - Calculate How Many Working Days and Public Holidays For HR and Payroll

Figure 1 – Screen shot of Calendar for "How many working days and public holidays from date to date"

If you ever have to figure out the number of working days and public holidays from one date to another, the website http://www.workingdays.ca/Alberta.htm#aepd is the perfect tool to use to come up with the correct number of days. 

This window has multiple uses:

1. Use it to calculate a payout for an employee that is leaving

2. Use it to calculate the number of days and vacation for budgeting for the next fiscal year – it goes out to future years

3. Use it to fix the public holiday dates for sending out the notice for the upcoming year statutory days

4. Use it to check statutory days between Canada and the United States for planning purposes when the company works in both countries

5. Use it for planning weekend shifts for manufacturing shifts and for retail shifts

Using the Calendar function is much faster than counting the days manually on a calendar.

For other tips and tool tricks, keep reading this blog. 

Please contact us for more information on Dynamics ERP capabilities or to find out how we can help you with a Dynamics implementation.

Send an email to Support@dynamicsmct.com or call us at Toll Free:  +1.780-555-6144.

Submitted by Judith Hirst CPA, CMA MCP Senior Financial Analyst

www.dynamicsmct.com