Along with the General Ledger Enhancements that we previously talked about, Microsoft Dynamics GP 2013 has new enhancements to Bank Reconciliation & Multicurrency Management that will allow you to work with more accuracy and efficiency.
Here are a few of these enhancements that will make your job easier:
Bank Reconciliation
- Microsoft Dynamics GP 2013 adds a Bank Reconciliation module to the Reconcile to GL routine. This feature will help save time and frustration for users, providing an automated method for finding differences between the balance for a checkbook and the balance for the associated cash account in the General Ledger.
- You can manage all bank-related transactions through a single, automated process and ensure fast access and tight control for mission-critical financial information.
- You can choose the Reconcile button in the Select Bank Transactions window- After choosing to continue with the reconcile process, the last reconciled balance and the last reconciled date are updated for the checkbook with the bank statement ending balance and the bank statement ending date.
Multicurrency Management
- An option for selecting the method for calculating the average exchange rate is added to the currency translation defaults. You can calculate the average exchange method using the exchange table, a rate average calculation or a rate day’s average calculation. The difference between the two average calculation methods is that the rate average is a straight average of all rates divided by the number of days. Rate days average uses the number of days a rate is effective as part of the calculation.
Rate Average = (Sum of Rates) / (Number of Rates) per period
Rate Days Average = [Sum (Rates*Number of Days) / (Number of Days in the Month)]
These features allow you to work conveniently and deliver smooth and accurate information with ease. You no longer have to worry about wasting undue time performing these tasks that could be spent on other activities.
If you have any questions or would like to learn more about Microsoft Dynamics GP 2013, please contact us today at 636-237-2280 or email us at sales@turnkeytec.com.
For a high level estimate of your investment in Microsoft Dynamics GP 2013, please use our“FREE” Microsoft Dynamics GP Quick Quote Tool. It will give you a great starting point for assessing your potential investment in a solution like this.
By Stephanie Manning and Michael Ramatowski at Turnkey Technologies, Inc.—Missouri, Illinois, and Kentucky Microsoft Gold Certified Dynamics GP and CRM Partner.