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 3. Budget Creation and Maintenance

One of the most important accounting tools for a business is the budget, which is generally created on an annual basis to outline the expected needs of each department or business area.

A major benefit of budgets is the ability to control spending on certain operations by restricting the funds available for spending, which can require managers and buyers to find new vendors or suppliers to meet budget limits.

Budgets also allow companies to plan for future growth and expansion, and allow the creation of a financial roadmap.

Dynamics GP provides a flexible and easy-to-use budget creation and maintenance utility, which allows for comparison to the previous year's actual and budget figures during the budget creation process.