Book Image

Microsoft Dynamics GP 2013 Financial Management

By : Ian Grieve
Book Image

Microsoft Dynamics GP 2013 Financial Management

By: Ian Grieve

Overview of this book

Microsoft Dynamics GP 2013 is a mature accounting software, ERP application, which is aimed at making life easier for financial professionals. This book is to assist readers in improving their use of Microsoft Dynamics GP by showing them how to get the most out of the financial aspect of the system. Microsoft Dynamics GP 2013 Financial Management is intended to add value to your organization by making use of additional modules and processes by introducing readers, new or experienced, to some of the financial management modules of Dynamics GP, such as Analytical Accounting, Cash Flow Management, and Encumbrance Management. Microsoft Dynamics GP 2013 Financial Management introduces the six essential financial modules. You will get acquainted with accounting to enable reporting, before gaining an oversight into inflow and outflow of cash. Budget studies cover all aspects of budget use in Dynamics GP for comparing actual figures against the budgets created and maintained within the system. The final chapters cover PO Commitments and Encumbrance Management; two sides of the same coin. Both modules allow for the control of purchasing by either committing or encumbering the transactions and preventing overspending.
Table of Contents (14 chapters)
Microsoft Dynamics GP 2013 Financial Management
Credits
About the Author
Acknowledgement
About the Reviewers
www.PacktPub.com
Preface
Index

Chapter 5. Purchase Order Commitments

Purchase Order Commitments (PO Commitments) are available in Microsoft Dynamics GP as a part of the Purchase Order Enhancements module, which also includes PO Approvals within Purchase Order Processing.

A Purchase Order Commitment is a way to reserve funds when a PO is entered in the system to ensure that the funds remain available when the goods are received and invoiced. PO Commitments works by comparing the committed PO amounts along with the actual values for the received POs compared to the budget values for the period.

In this chapter we'll take a look at enabling PO Commitments, entering transactions, and then reporting on the commitments. By following these steps, you will learn how to use PO Commitments in Dynamics GP to gain control over purchasing.