Some companies like to use the accrual based financial reporting system but others like to have cash basis reporting. Out of the box Microsoft Dynamics GP is set up for accrual based reporting. But you do have another option. Aim Technologies provides an inexpensive add-on/enhancement for Dynamics GP for Cash Based Reporting. This allows you to use standard reporting tools within Microsoft Dynamics GP to:
- Prepare cash-basis and accrual-basis financial reports simultaneously;
- Use Cash Basis Reporting regardless of the company’s specific account format structure;
- Customize relationship of cash-basis and accrual-basis accounts; and
- Automatically create master records related to Cash Basis Reporting data.
Cash Basis Reporting provides easy identification and reporting of cash transactions originating in Payables Management, Purchase Order Processing, Receivables Management, Invoicing, Sales Order Processing, Bank Reconciliation, Project Accounting, and US Payroll.
So just remember that you always have options with Microsoft Dynamics GP – cash-basis financial reports, accrual-basis financial reports or both!
By Aim Technologies, Louisiana Microsoft Dynamics GP Partner
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