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Since I'm sharing my experience with you guys here, I'm also sharing the wise thought that have been thought thousands of times in this place here. Mark this blog in your calendar and visit here often, to reinforce your understanding and spark new ideas every, apply this to your work and daily life. As I Believe... "All truly wise thoughts have been thought already thousands of times; but to make them truly ours, we must think them over again honestly, until they take root in our personal experience." - Johann Wolfgang von Goethe- Embed from Getty Images

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It always to make a good practice to adjust document details by issuing Debit Note or Credit Note to amend the document amount instead of using Voiding function in GP. But some transactions are not allowed to do that, in this case the transactions that related to Bank or Cash. The scenarios which I get from my clients are normally the cheque amount is incorrect but has posted, or the document date is wrong. The only way to reverse these transaction is using “Void”. The Void function available in AR, AP and Bank Module. But users might ask how to check the transaction has been voided and GL has pick up the reversal double entries? If you notice the screenshot below which shows the highlight voided documents, there will asterisk or the symbol “*” next to the document. GP will not remove the original posted document from the system. If you drill further into document, a “Voided” flag will display in the document. The rule of thumb, whatever transaction that posted in sub-ledger, it will c

There is difference when come to voiding Receipts from "Bank Transaction Entry" screen and voiding AR Receipt from "Cash Receipt screen. Both will impact the Bank Recon result.  A. Voiding Receipts (Bank Transaction Entry)      1.   Transaction > Financial > Bank Transaction Entry > Select "Void Receipt" Bank Recon Impact: Once entry is voided, the transaction should not appear in Bank Recon screen. B. Voiding AR Receipts (Cash Receipts)      1.   User will require to go through 2 steps in order to void AR Receipts.      2.   Transaction > Sales > Posted Transactions Bank Recon Impact: Even though the entry has been voided in AR, but the entry will still show in Bank Recon. Need to perform another step to remove the entry from Bank ledger.      3.   Transaction > Financial > Bank Deposit > Select “Void” from Option Bank Recon Impact: The voided cash receipt from AR should not appear after performing "Voiding" in Bank Deposit En

1.         Suppose an asset assigned with 5 years of useful life and depreciation has been performed since the asset is bought. According to the company depreciation policy, it need to change to 3 years and the depreciation need to be recalculated from the beginning of the Fixed Asset calendar year through the dates that the asset has already been depreciated. 2.         In the Asset Book, change the number of years in <Original Life Year, Days>.  Click <Save>. 3.         In the following message, select [Yes]. Extract from Microsoft Dynamics GP's Help When you change a depreciation-sensitive field in the Asset Book window in Microsoft Dynamics GP, you receive the following message: “You have changed a depreciation sensitive field. This will result in depreciation values being recalculated. Do you wish to continue?” You will receive this message because depreciation amounts must be recalculated when a depreciation-sensitive field is changed for an asset. When you click

As there is no shortcut to reprint the posting journal from one screen, you need to know the original screen location. Financial and Bank 1. To reprint General Journal entries.      Path: Reports > Financial > Cross-Reference > Select "Journal Entries"             Take note that the document printed from here will include transaction posted from other source too like Payables, Receivables, and Fixed Assets and etc. 2. To reprint Bank Posting Journal/ Bank Recon Reports      Path: Reports > Financial > Bank Posting Journal Sales Order Processing and Receivables 3. To reprint Sales Transaction Entry      Path: Reports > Sales > Posting Journal > Select "Sales Posting Journal" 4. To reprint Receivables Entry      Path: Reports > Sales > Posting Journal > Select "Receivable Posting Journal" 5. To reprint Cash Receipt Entry      Path: Reports > Sales > Posting Journal > Select "Cash Receipt Posting Journal" Pu

Many times, Microsoft Dynamics GP users has miss out how useful Smartlist can help them on data analysis. Users able to customised their own report based on their preference. The most common listing my customers ask for is the financial transaction listing which includes detail from sub-ledger like Accounts Payable or Accounts Receivable. I'm going to include the guide on how to create financial transaction listing in Smartlist.    1.     To create a new Smartlist to pull financial data and sub-ledger detail, you can pull through Financial Folder. As the default reports are widely available, but you still able to include additional field in the report. To add, select [Columns].    2.     In the Change Column Display, it shows the current fields showing in the report. To continue, select [Add].    3.     In the [Columns], you may select the additional field which helps the user in data analysis. In this example, I'm going to add "Originating Control Number

User able to perform Fixed Asset Retirement, write-off or even disposal using "Retirement Maintenance". Path: Transaction > Fixed Assets > Retire 1.   Select the Asset that need to retire. 2.   The date of retire. 3.   Select "Like-Kind Exchange". The double entry for this will be Accounting entries for write-off:       Dr. Non-Recognized gain/loss (FA written-off)       Dr. Accumulated Depreciation                  Cr. Asset Cost User may select "Sale" in Retirement Type and "Disposal" in Retirement Code for disposal of asset. 4.   Select Retirement Code "WRITEOFF". If the code is not present, user can create it by going to Retirement Setup.  Path:  MSDGP > Tools > Setup > Fixed Assets > Retirement 5.  There are 3 ways how the asset can be retired. Quantity, Cost, or Percentage. In this sample I'm going to retire 100% of it, which is full value of it. If there is proceeds or expenses incurred during the write-off,

Revaluations provide the latest value of non-functional-currency-denominated financial instruments in your  functional currency. In another words, performing Multi-Currency Revaluation will revalue the outstanding transactions or Balance Sheet item with Current Rate (some they call Closing Rate) to get the Unrealised value. Though,  this process does not need to perform routinely,  this is up to the customers on which accounting policy they are adopting. Below example shows how to perform Multi-currency Revaluation for Payables transactions. The way to perform Receivable transaction is same. Path: MSDGP > Tools > Routine > Financial > Revaluation i.                     Create option as below. It would be good to name the option according to the module with month. ii.                   Make sure the Results is "Print Report Only" so that nothing is posted to GL before the entries is confirmed. iii.        "Calculate Gain/Loss" option is always "Unrea

User will be able to check document status from Inquiry screen, whether is in Payables or Receivables.  Work Status In both Receivables and Payables modules, the document is saved in the batch, not posted yet. Open Status In both Receivables and Payables modules, the document is posted. History Status In Receivables module, a document is moved to ‘history’ status when the document is fully applied and then it has performed the Paid Transaction Removal (PTR) in routine or the said document is voided. In Payables module, a document is moved to ‘history’ status when the document is fully applied or voided.

Suppose you have adjustment or audit adjustment need to post to recent closed financial year, there is a feature Dynamics GP allows you to do so. When you posted the adjustment, system will automatically adjust the beginning balance in the new financial year. Refer steps below on how to post a prior year adjustment. 1.   Make sure the Post to Historical Financial Year feature is enable. Path: MSDGP > Tools > Setup > Financial > General Ledger 2.   Fiscal Period for the adjustment to be posted is Open. 3.  Enter the prior adjustment using Transaction Entry in Financial. 4.   Remember to select "AUDIT" from Source Document.                   *** Take note that user no need to enter Retained Earning account as system will auto adjust. 5.   Print Edit List report before posting. You will notice another entry will be auto created to adjust Retained Earning account at the same time.  6.   Once the posting is done, user need to close the historical Fiscal Period to avoid

GP - Record Audit Adjustment Path: Transaction > Financial > General 1.  Use “General Transaction Entry” to record Audit Adjustment. 2.  To differentiate normal general journal entry from Audit Adjustment entry during reporting, user need to indicate the entry as “AUDIT” in Source Document.  3.  The Audit Adjustment can be posted to any date as long the “AUDIT” is selected. 4.  In case the “AUDIT” does not appear from Source Document lookup list, user can create it by going to Source Document Setup. Path: MSDGP > Tools > Setup > Posting > Source Document 5.  Save the entry, and post the entry in batch screen just like normal. Report Designer - Generate report with/without Audit Adjustment 1. Setting need to be done in Column format before Report Designer able to pull Audit Adjustment entry and normal general journal entry separately. Select the “Column” format button. 2. Notice in the Column format below, there are 5 columns prepared. To prepare a column with the Audi

When voiding a partial applied payment, you will come to a message saying “ This document cannot be marked for voiding. It has been either partially applied or it on hold ”. This is the system design where it will not allow you to void a partially applied transaction. At the same time, GP will not allow to unapply the applied document in Payables. Refer to sample below, the payment is recorded wrongly which causing $0.10 extra after apply to invoice. There are 2 options to void the partially applied document. Option A. i.                       Apply the payment to any invoice that is still “OPEN” in Apply Payable Documents ii.                     Next, void the payment at Void Historical Payables Transaction iii.                   Issue another new payment with correct amount Option B. i.                       Unless there is no OPEN invoice for apply, you will need to use this option. Issue a Dummy Invoice in payables which equivalent to the remaining amount in payment ($ 0.10 in this