Five Reasons To Keep The Vendor (Supplier) List Clean

Figure 1 – The push broom used to keep shop floors clean

Most organizations have a safety policy in place.  High on the list of safety is keeping the premises clean and tidy.  An extension of this "clean and tidy" practice should be to keep the vendor list clean in the ERP system.

Why? Here are five reasons to keep the vendor list clean.

1. The longer and messier that the vendor list is, the more likely coding errors will happen. 
2. This increases the chances of the wrong vendor being paid for an invoice assigned to them in error.
3. Now, there are two voids to process, one for the cheque payment, and one for the invoice.
4. If Vendors have not been used in the last two years, inactivate them to reduce the risk that invoices will inadvertently be assigned to them. (In Dynamics GP, for example, run a SmartList to show vendors that have not received payment for the last two years, and then inactivate them.)
5. Managing the vendor list and reviewing it quarterly or semiannually will help to minimize the occurrence of fraudulent vendors, that is, vendors who submit the same invoice under different names.  You will catch these errors  because  you are watching.

The team at Dynamics MCT Consulting has been implementing Microsoft Dynamics ERP Business Solutions for more than 15 years and provides a full range of Microsoft Dynamics services.  Please contact us for more information on capabilities or 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

Free Job Close Assist Report for Key2Act and Dynamics GP

Figure 1 – The banner at Implementation Specialists showing the two free report tools available

Job cost closing can sometimes be a time consuming process.  Often, the job that we should be able to close does not show on the Job Cost Closing window, and then we have to figure out what is going on with the job.  Wouldn't it make life easier if there was a report that told the user what transaction is holding up the job from closing?

wsTools

Well, the folks at Implementation Specialists (www.iscorp.biz/solutions/wstools/) have created this report.  And, they are offering it for free, along with their PTO Liability Report. To provide some background, the team at Implementation Specialists have created a set of wsTools that provide a quick solution to job cost and service tasks.  The two free reports are part of the wsTools.

PTO Liability Report

About the PTO Liability Report -  It is only available for the US Payroll module.  It provides an easier way to sum up employee sick time and vacation time accruals by department that’s been formatted to copy/paste into GL.

Job Cost Close Assist Report

About the Job Cost Close Assist Report - For KEY2ACT Job Cost users, save time and avoid the frustration in trying to figure out why a job will not close. "Job Cost Close Assist" will show you in one simple report, the items that are preventing you from closing a job.  The report is an SSRS report that runs for an individual job, and produces a report like the one in Figure 2 below.

Figure 2 – Sample of the Job Closing Report

You can look at all of the tools available at Implementation Specialists by checking the wsTools library at www.iscorp.biz/solutions/wstools/.

To get your free copy of the Job Close Assist Report or to see a demo of any of the other wsTools, you can contact us  at Dynamics MCT Consulting.   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

About Running General Ledger Reconcile in Dynamics GP

                  

Figure 1 -  The RECONCILE FINANCIAL window in Dynamics GP

Last week, there was a large storm in Alberta that stretched from Edmonton down through Calgary and south, and east into Saskatchewan.  The winds knocked down trees and branches, which ended up knocking out some power.

Microsoft recommends running the reconcile utilities after a power outage or server issue. Microsoft suggests that:

"companies use the Reconcile Financial Information window to reset account totals in the chart of accounts so they match the posted transaction amounts. Reconciling an open year ensures that amounts on the financial statements are the same as the totals printed on the Detailed Trial Balance. Reconciling recalculates account summary amounts for the open periods."

This information discusses how to run the reconcile on the Dynamics

1.   Financial (Tools > Utilities > Financial > Reconcile). The options to reconcile in the General Ledger are fairly straightforward, as listed below.

             a)   Allocation Accounts - Mark this option to verify that all allocation accounts, distribution accounts, and account types are valid.

If you reconcile allocation accounts, the system verifies the validity of all allocation accounts, distribution and breakdown accounts, and account types. If the allocation accounts contain errors, the Reconcile Report is printed. The reconciliation process doesn't correct allocation account errors, you must enter those corrections manually.

             b) Year – Select this option to review the transaction detail for each general ledger account and update the Summary totals for the selected year. You would run this reconcile if the information in the Summary Inquiry (Inquiry > Financial > Summary) or History Summary Inquiry (Inquiry > Financial > History Summary) is incorrect when compared to the transaction totals.

 NOTE: Only reconcile your historical years if you keep account and transaction history

             c) Batches – Choose this option to review the transactions that are assigned to a batch in general ledger and update the batch header information. Use this reconcile if your batch total is not correct, or if there are transactions that are not appearing in a batch.

If you reconcile batches and identifying records are added, the Reconcile Report is printed.

2.    Choose Posting Numbers to open the Reconcile Posting Numbers window, where you can reconcile posting numbers so that no gaps in the posting number sequence exist.

The Posting Numbers buttons appears only if you have marked the Enable Posting Numbers in General Ledger option in the Company Setup Options window. Sequential posting numbers are a legal requirement in some European countries.

3.     Choose Reconcile to reconcile account totals, batch information, or both.

Contact us  at Dynamics MCT Consulting to get assistance on executing the Financial Reconcile or to get mor information on  Dynamics products.  Send an email to Support@dynamicsmct.com or call us at Toll Free:  +1.780-555-6144.

Submitted by Judith Hirst CPA, CMA MCP

www.dynamicsmct.com

New Features in HR and Payroll in Dynamics GP 2016 R2

 

Figure 1 – how to get to the new employment history window in GP 2016 R2 – US Payroll only

A very simple, but powerful improvement made to the payroll and human resource module is the new ability to track history on termination and rehire dates for employees. Any time a hire date, adjusted hire date, date inactivated, last day worked or termination date is updated in the system, that information will be saved and can be viewed through the employee history inquiry window. Tracking employee history with the company has now become simple.

Other payroll and human resource improvements include:

• Vendor addresses and accounts can be established in the payroll vendor setup window, allowing for a different distribution than those currently assigned to the vendor.
• A warning is now available for potential double deductions for mandatory arrears deductions due to a previous posting.
• Tip tax amounts are now included in distribution pre-posting reports for viewing before posting.
• An option is now available to exclude inactive pay codes from lookup windows throughout payroll.
• An enhanced payroll posting accounts setup now exits with navigation lists having filter and sort capabilities along with excel export and import functionality.

Are you a Dynamics MCT client interested in installing Microsoft Dynamics GP 2016 R2? Contact us first. Dynamics MCT Consulting - email to Support@dynamicsmct.com or call us at Toll Free:  +1 780-555-6144.

Submitted by Terence Graw CPA, CMA – Consultant   www.dynamicsmct.com