In a previous post, we looked at the currency revaluation process in Microsoft Dynamics GP, which generates unrealized currency gains or losses. In this post we will look at a process that creates realized currency gains or losses in Dynamics GP.Realized currency gains or losses are calculated when an open foreign currency transaction is settled in the Receivables Management or Payables Management modules, and the exchange rate on the settlement date is different from the exchange rate from the date of the original transaction. The direction of the change in the exchange rate determines whether a gain or loss is calculated.Continuing the example from the previous post, we have a GP company with functional currency of U.S. Dollars … [Read more...] about Realized Currency Gains or Losses in Dynamics GP
Boyer team expands with new GP consultant
Darin Vialpando has joined Boyer & Associates as a Dynamics GP consultant and support technician. He has 13 years of experience in the industry and a passion for GP software.Vialpando got his first look at Microsoft Dynamics GP while working the IT help desk at Denver-based Pendum LLC in 2007. He offered support for field service technicians and assisted with GP support tickets.“I just like the software. For some reason it really intrigues me,” he said. “The things you can do with this piece of software amaze me because it’s not just an accounting platform.”A thirst for more knowledge about the GP software drove him to get involved with the local GPUG chapter meetings. He quickly learned that he was not alone in his love for GP. In … [Read more...] about Boyer team expands with new GP consultant
Top Enhancements in Dynamics GP 18.3
It’s here! Microsoft Dynamics GP 18.3 officially released this month. As anticipated, the latest update has some very nice enhancements that will make working within the system that much easier and faster. In this latest update, the bulk of the enhancements fall under the Financials and System areas. Here are a few of our favorite highlights: Copy/Paste Purchasing Transactions The copy/paste feature in the General Ledger was such a big hit that they’re now introducing the same functionality for Purchasing transactions. You can now define purchase transactions and import them into the Payables transaction window with this feature. You can also choose whether or not to include distributions.For the copy/paste feature to work properly, the … [Read more...] about Top Enhancements in Dynamics GP 18.3
Office update creates problem with GP Templates
Are you experiencing issues within your Microsoft Dynamics GP system shortly after updating Microsoft Office? If so, you're not alone. We recently became aware of this issue for a few of our clients.Specifically, the most recent Microsoft Office update on Sept. 9, 2020 — update 16.0.13127.20378 — is causing problems in Dynamics GP printing reports if and when those reports are trying to use a Microsoft Word Template.If this Office update is applied, you will likely get the following error message:Unfortunately, the only fix at this point is to roll back to a previous Office update. Microsoft is aware of the issue and is working to fix it.UPDATE: As of Sept. 29, a fix is finally on its way and will be included with the GP 18.3 … [Read more...] about Office update creates problem with GP Templates
De-mystifying Currency Revaluation in GP
Multi-currency accounting can send shivers of fear and confusion through the spines of financial professionals (and some ERP consultants). In particular, the process of month-end currency revaluation can seem especially daunting. However, with the power of Microsoft Dynamics GP and the industry-leading knowledge and expertise of Boyer & Associates, currency revaluation can be a stress-free part of your month-end close process.Currency revaluation is the process in which Dynamics GP retranslates foreign currency month-end balances at the current month-end exchange rate. The difference between the previously translated month-end balance and the retranslated balance is a currency gain or loss on exchange, often recorded as an … [Read more...] about De-mystifying Currency Revaluation in GP
Dynamics users can get free Business Central licenses
Microsoft has now made it easier for Dynamics customers to get free Dynamics 365 Business Central licenses and migrate their ERP system to the cloud.After a disruption in normal operations this spring, many businesses were already looking for ways to improve their remote work capabilities. To that end, Microsoft announced in June a plan that allows certain Dynamics ERP customers to switch to a cloud solution — for little to no additional licensing cost.Customers who are active on a Microsoft annual maintenance plan (Enhancement, Advantage or Advantage Plus) can renew their plan through the Cloud Solution Provider (CSP) program and receive free online licenses for Microsoft Dynamics 365 Business Central, the company’s Software as a … [Read more...] about Dynamics users can get free Business Central licenses
Reconcile Utilities in Dynamics GP
What They Are and What They Do Have you ever applied a credit memo in Dynamics GP but discovered that the amounts simply did not look right? Or perhaps your AP/AR aging amounts ended up in the wrong columns? These are common issues for users of Dynamics GP, and we’ve discovered that more often than not, running a Reconcile feature within the Utilities toolbox of Dynamics GP can help you quickly pinpoint and fix the problem.Most of the modules in Dynamics GP have reconcile functionality available to help you make sure amounts are summarized correctly. Read on to find out what the reconcile feature is and what options are available within each module. Reconcile in Financial Module But First: The Financial module’s reconcile feature does not … [Read more...] about Reconcile Utilities in Dynamics GP
Dynamics ERP users band together on working apart
With thousands of companies across the U.S. attempting to maintain normal business operations despite quarantine restrictions, Microsoft Dynamics ERP user groups have stepped up their game to help their cohorts navigate new ways of working.Users of Dynamics 365 Business Central already have a fully operational cloud system, but for users of on-premise solutions like Dynamics GP, SL and NAV, the nearly nationwide shelter-in-place orders have placed a strain on business operations. Those who are members of their solution’s user group community have a definite edge.Dynamic Communities, the brainpower behind Microsoft’s ERP user groups, released an entire series of April webinars focused on how to navigate working remotely and the … [Read more...] about Dynamics ERP users band together on working apart
How to set up Dynamics ERP for remote users
Due to the precautions in place as a result of the COVID-19 outbreak, many companies throughout the U.S. are instructing their employees to work from home. Some companies are scrambling to accommodate these changes by purchasing laptops and installing the appropriate business applications for their newly remote employees.In office environments that use Microsoft Dynamics GP, NAV or SL, it is crucial to be deployed in a supported configuration. Here are some helpful tips:If GP, SL or NAV is installed locally on the user’s computer, that computer must be directly connected to the company network via Ethernet (wireless connections are not recommended). If the user is working remotely or is otherwise not able to connect directly to the … [Read more...] about How to set up Dynamics ERP for remote users
Moving Dynamics GP 2015 to the cloud in 1 step
Ever since Microsoft introduced its cloud computing service Azure, the company has ramped up its focus on cloud-based software offerings of all types. From One Drive to Office 365 to Dynamics 365, Microsoft is “all in” with the cloud.That cloud-centered focus extends to its Enterprise Resource Planning (ERP) business management software. Microsoft has invested heavily not only in its one cloud-based ERP offering but also in its migration tools that allow existing on-premise Dynamics ERP users to move to the cloud platform. In its latest wave of Dynamics GP enhancements, Microsoft streamlined the process yet again for Dynamics GP users looking to make the move to Dynamics 365 Business Central in the cloud.The biggest enhancement for … [Read more...] about Moving Dynamics GP 2015 to the cloud in 1 step
