New Financial Features in Microsoft Dynamics GP 2015
The release of Microsoft Dynamics GP 2015 introduced us to a bunch of great new core financial features that just about every company can benefit from.
Let's take a closer look at some of these new financial features and explain what they mean for your business.
Processes That Flow
Workflows in Microsoft Dynamics GP define how a document “flows” through your system by showing what tasks must be completed and who’s in charge of approvals along the way.
Further building on the new and improved workflow engine that was totally redesigned in GP 2013 R2, you’ll find nine new workflows available in GP 2015. These pre-defined workflows include General Batch Approval, Payables Batch Approval, Vendor Approval, Receivables Batch Approval, Employee Skills Approval, Direct Deposit Approval, Employee Profile Approval, W4 Approval and Expense Report Approval.
Improved Intercompany Transactions
Enhancements in GP 2015 make Intercompany Transactions more efficient to process and easier to manage. The new Intercompany Journal Entry Inquiry Window displays complete transaction information including the destination company and the offset accounts that were used.
Intercompany transaction processing has also been updated so that when a change is made to a transaction for the originating company, the change is automatically made for all destination companies as well. For example, now if you void an Intercompany Journal Entry in the originating company, Dynamics GP 2015 will automatically void the entry in all destination companies.
Payments On Your Terms
Enhancements to Payment Terms in Dynamics GP 2015 give you greater control over how discount dates and transaction due dates are calculated.
A new Calculate Date From field has been added to the Payment Terms Setup window and provides two new options:
- Transaction Date calculates the transaction due date from the date the transaction was entered.
- Discount Date uses the calculated discount date to then calculate the transaction due date.
Additional selections have also been added to the Due and Discount fields where you can set up payment terms that go beyond the next month, add days to a due date, or extend a discount for a year or more.
Even Better Business Intelligence
For even better intelligence reporting, GP 2015 features refreshable Excel reports, navigation integration with Management Reporter, and an updated version of Business Analyzer.
To learn more, it's worth watching the GP 2015 New Features in Business Intelligence video.
If you need help with your ERP implementation, upgrade or other questions about Microsoft Dynamics GP, contact us here or call 410.685.5512.
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About Sharon Paul
Helping clients use technology to solve tough business issues is what drives Sharon. If she can save a business valuable time by automating a procedure or process, or help them use technology to produce useful information for decision-making, then Sharon feels that she’s done her job. In her spare time, she loves to cook and will gladly swap recipes with you.