Check out this new feature in Dynamics GPIf you’ve worked with batches in Microsoft Dynamics GP, you are likely familiar with the following scenario: You have entered your transactions in a batch. You have submitted your batch for approval. The batch has been approved. But now you must go back and find your batch to post it. That last step always seems a little inefficient since the batch has already been approved. Thankfully, Dynamics GP has added a new feature in GP 18.4 to bypass this inefficiency. You now have an option to automatically post Approved Workflows for the Payables Batches, General Ledger Batches, and Receivables Management Batches. When this new option is marked and a transaction is Finally Approved, it will … [Read more...] about New feature in Dynamics GP lets you automatically post when workflow completes
Realized Currency Gains or Losses in Dynamics GP
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
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
