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

Year-end processing


The General Ledger Year-End Closing window performs the bulk of actions required for the year-end processing of the Analytical Accounting module. When the year-end closing is performed, the following occurs:

  1. All the previous years' analytical data for each account is transferred to the history (when history is being kept).

  2. Analytical information for marked alphanumeric transaction dimensions for open year balance sheet accounts are brought forward as the beginning balances in the new fiscal year.

  3. Analytical information for marked alphanumeric transaction dimensions for open year profit and loss accounts is consolidated and transferred to the Retained Earnings account.

    To ensure the analytical data is correct, balance brought forward transactions are created even if no profit and loss distributions exist for the year being closed and the profit and loss accounts' balances are zeroed.

  4. Balances are brought forward for unit accounts.

  5. The Analytical Accounting year-end closing report is printed.