ERP Software Blog » Arizona Microsoft Dynamics GP

Is it Time for an Annual Analysis and Evalution of Your Business Technology?

Ed Bonaski, Sherwood Systems — Fri, 30 Dec 2011 13:13:54 +0000

This is the time of year when we look back on our accomplishments or lack thereof for the year and we begin to look ahead. Take some time to spell out the three most important goals for your business in 2012. Take a step back and set up an annual analysis and evaluation of the technology you are currently using. A simple plus and minus column can yield some surprising results. Is your software still effective and is it producing what you need it to for your 2012 goals?

According to Zig Zigler the process to make your goals a reality should be:

Write it down
Put a due date on it, set a time limit
Make a list of the obstacles
Identify the people, groups, or organizations you need to work with
Spell out your plan of action
Identify the benefits, what’s in it for me?

Here are some questions to keep in mind while completing your analysis and evaluation of your software:

Do you experience delays with response time for menus and screens and have you become so accustomed to that you don’t even notice? This could be wasting valuable time and resources.
Are you storing and retrieving data in more than one place or system? Having to gather comprehensive information may be a huge headache that you just don’t have time for anymore.
Do your reports take a long time to populate and is the data really reliable and actionable? Without a comprehensive report, business insight is not actionable because you can’t really trust the data you have.
Is your current system expensive to maintain and time intensive to support users? Having to manipulate your current software just costs you more money and doesn’t give you the end result you’re looking for. Throwing more money at a failed system will not change the outcome.

If you need help determining that your current system is not going to achieve your business goals this year, give us a call. We can help you determine how improved processes can affect your bottom line.

by Sherwood Systems, an Arizona Microsoft Dynamics GP Partner

Is it Time for an Annual Analysis and Evalution of Your Business Technology? is a post from: ERP Software Blog

Six Ways to Prepare for a Call With an ERP/Accounting Software Provider

Ed Bonaski, Sherwood Systems — Fri, 30 Sep 2011 22:23:13 +0000

There are a lot of steps in the process when you’re searching for ERP software to help streamline your business. What should you do before making that first
call to a salesperson? Some things are fairly obvious and some are not. Here are six ways to prepare so you can get the most information out of one phone
call.

Do Your Research. Do an internet search for reviews on the software you are considering. I’m sure you already do that for those flat screen TVs, laptops, cars, etc. There is a tremendous amount of information out there on the products available to businesses. It is a disservice to yourself to not take advantage of it.
Visit the Company’s Web Site. Read the white papers and visit the links on the site. If an organization is noted in a white paper or if the company lists their clients on their website, make a call. I can’t guarantee the clients will be receptive to talk to you about the company, but it’s worth a shot. Of course, always be respectful of people’s time.
Ask Your Suppliers What Software Applications They Use. That type of feedback is invaluable. You already have a relationship with them – ask what system they use for financials, distribution, etc.
Limit the Number of ERP Systems Considered.
I’ve run into organizations that will evaluate up to 10 different packages! That’s a hard process to manage and to keep track of the nuanced differences between each one. I recommend you limit your search to no more than 4.
Don’t Just Focus On Features And Functionality.
Let’s face it; if you are looking for an ERP package all of the competing products handle GL, receivables, and payables in an efficient manner.
The same can be said for order processing and other customer-related activities. I’m not suggesting that you ignore functionality, but also focus on
the software company. How stable are they? Will they be around for the long term? How much do they invest in R&D? How often are there new releases?
Create A Needs Document. I find that a number of organizations either do not have a written document of requirements or it was slapped together
without any input from key people. I’m not saying that you should create a formal RFP, but having a requirements check list will help you keep on track with your discussions with the salesperson. Sharing that document with the salesperson is also very valuable since it helps with understanding your needs and opens the door to greater discovery.

The vendor understands that selecting a new software package is a bet-your-business decision. The vendor’s goal is to implement a system that exceeds your requirements and expected business outcomes. Therefore, these goals must be crystal clear in the minds of both the customer and the vendor.

Please read my full article on how to find the right ERP solution for you. If you are located in Arizona or the surrounding area, contact Sherwood Systems at (877) 943-9696 for assistance in determining how Microsoft Dynamics GP can help your organization.

By Sherwood Systems – Arizona Microsoft Dynamics GP Partner

Six Ways to Prepare for a Call With an ERP/Accounting Software Provider is a post from: ERP Software Blog

Management Reporter Replacing FRx in Microsoft Dynamics GP

Ed Bonaski, Sherwood Systems — Wed, 31 Aug 2011 14:53:42 +0000

There has been a lot of talk about the new financial reporting tool being shipped with Microsoft Dynamics GP: Management Reporter (MR). MR, as it is commonly called, is a 64-bit, SQL based report writing tool. Reports are stored in a secure SQL database, and data is pulled from the Dynamics GP SQL data. It is very user friendly to new users, especially for anyone that uses Microsoft Excel. It will also be an easy transition for FRx users.

FRx, the 32-bit compatible, Access-based report writing tool is owned by Microsoft, but has been used by many ERP systems for financial
reporting over the past 10 years. MR was designed to be so similar to FRx that most reports written in FRx can be migrated to MR. When it was
announced that mainstream support for FRx will end in October of 2012, there was a lot of apprehension. Companies have invested a lot of time in building their FRx financial reports over the years, which is probably why Microsoft made the effort to make the transition as easy as possible.

If you are apprehensive about the transition or need any questions answered, please contact us at Sherwood Systems. We are Microsoft Dynamics GP experts and are equipped to help you.

If your organization is located in the Arizona or New Mexico area, contact Sherwood Systems for assistance in determining if a technology solution can help your organization better serve your business needs. (877) 943-9696

By Sherwood Systems – Arizona Microsoft Dynamics GP Partner

Management Reporter Replacing FRx in Microsoft Dynamics GP is a post from: ERP Software Blog

How to Gain Trust in Microsoft Dynamics GP and Realize Your True Potential

Ed Bonaski, Sherwood Systems — Tue, 21 Jun 2011 01:59:00 +0000

Nothing is worse than wondering whether your financials are on track, especially if you’re running a business. Unfortunately, worrying about it doesn’t do much good and spending time double or even triple checking your work can take up too much time, greatly impacting your bottom line.

We here at Sherwood Systems recently worked with a client that had lost all trust in their accounting solution for a number of reasons. First of all, they were not properly trained in how to use it. This happens more often than you think it would. Companies tend to think training can be skipped in order to save money, but that is never the case if you want to have a successful implementation. It’s also important to seek out an experienced and reliable software vendor to take you through the necessary implementation steps. Our client had to undergo manual data entries within Microsoft Dynamics GP because they didn’t know how else to utilize the solution’s capabilities. These missed steps resulted in unreliable information and caused this company to worry about where they stood financially.

We helped our client find confidence in their financial statements and reports by properly training them on the solution, implementing the right upgrades, and customizing the solution to meet their specific needs. They now trust that their Microsoft Dynamics GP solution is giving them an accurate snapshot of where they stand each day, each month, and each year. This newfound confidence gives our client the power to make the right decisions that prepare their company for growth and ultimate success.

Visit our website to download the full case study and learn more about how M & R Trucking developed trust in their accounting solution.

By Sherwood Systems, an Arizona Microsoft Dynamics GP Partner

How to Gain Trust in Microsoft Dynamics GP and Realize Your True Potential is a post from: ERP Software Blog

Update: New Rules Require Rental Property Owners to Issue 1099s Starting With the Tax Year 2011

Ed Bonaski, Sherwood Systems — Fri, 22 Apr 2011 02:57:34 +0000

On February 28th, we notified you that 1099 changes were coming and to start planning for the new law. With the recent repeal of Expanded 1099 Reporting (see below), Form 1099 reporting is back to the way it was prior to enactment of the 2010 Patient Protection and Affordable Care Act and the 2010 Small Business Jobs Act. Therefore, no changes are required in Microsoft Dynamics GP. Please contact your consultant if you have any further questions on how this impacts GP.

On April 14th, President Obama signed into law a bill to repeal expanded Form 1099 information reporting requirements for certain business payments and rental property expense payments.

The H.R. 4 Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 specifically repeals:

the requirement for businesses, charities, and governmental entities to report payments to companies for merchandise purchased in the aggregate of $600 or more (originally effective for 2012),
the requirement for rental property owners to report expense payments in the aggregate of $600 or more (originally effective for 2011), and
the requirement for businesses, charities, governmental entities, and rental property owners to report payments for services and merchandise to corporations (other than attorneys and certain health care providers) in the aggregate of $600 or more (originally effective for 2012).

The repeals under the new law are retroactive, thus reinstating the status quo for Form 1099 reporting as established prior to enactment of the 2010 Patient Protection and Affordable Care Act and the 2010 Small Business Jobs Act.

In general, only businesses must report payments to service providers in the aggregate of $600 or more, and the current exception for not reporting payments made to corporations (except attorneys and certain healthcare providers) remains intact. Furthermore, rental property owners must report payments to service providers if their activities rise to the level of a trade or business.

By Sherwood Systems – Arizona Microsoft Dynamics GP Partner

Update: New Rules Require Rental Property Owners to Issue 1099s Starting With the Tax Year 2011 is a post from: ERP Software Blog

No, It’s Not Harder and More Complicated Posting and Voiding Checks in Microsoft Dynamics GP vs. Quickbooks!

Ed Bonaski, Sherwood Systems — Fri, 22 Apr 2011 02:54:00 +0000

Did you know that in QuickBooks, you can’t void a transaction and have that void affect the current period by simply voiding it? For example, if the accounting manager voids a check from a prior year or period, the checking account balance is adjusted from the date of the voided check. This creates the following problems:

The bank reconciliations that have been prepared for the month of the voided check and all subsequent months are now incorrect.
Previously printed financial statements are different than the financial statements that can be currently printed.
If the voided check is dated in a year for which income tax returns have already been prepared, then the QuickBooks financial statements will not agree with the financial statements used in the preparation of the income tax returns.

In Microsoft Dynamics GP, you can choose both the Void Date and the Posting Date when you void a check.

The Void Date you choose will determine when the void will affect the bank reconciliation, so that prior bank reconciliations are not affected.
The Posting Date you choose will determine what General Ledger period the voided check affects, so that prior period financial reports are not affected.

QuickBooks users might claim that everything is harder and more complicated in Microsoft Dynamics GP. That is definitely not true in this case. Get the QuickBooks Replacer Kit and learn how you can bring your business to the next level!

By Sherwood Systems – Arizona Microsoft Dynamics GP Partner

No, It’s Not Harder and More Complicated Posting and Voiding Checks in Microsoft Dynamics GP vs. Quickbooks! is a post from: ERP Software Blog

New Rules Require Rental Property Owners to Issue 1099s Starting With the Tax Year 2011.

Ed Bonaski, Sherwood Systems — Tue, 01 Mar 2011 04:21:24 +0000

New reporting requirement for rental property expense payments. If you receive rental income from real estate, you may be required to report payments you made for rental property expenses. You will use Form 1099-MISC, Miscellaneous Income, to report these payments. For more details including exceptions, see the Instructions for Form 1099-MISC and www.irs.gov/form1099misc.

The recently enacted Small Business Jobs Act contained one provision that may have escaped the notice of taxpayers who own rental property, but it will affect them. Under the provision, owners of property who receive rental income will be required to issue Forms 1099 to service providers for payments of $600 or more during the year.

The act subjects recipients of rental income from real estate to the same information-reporting requirements as taxpayers engaged in a trade or business. Thus,rental income recipients making payments of $600 or more to a service provider while earning rental income are required to provide an information return such as a Form 1099-MISC to the IRS and to the service provider. This provision will apply to payments made after Dec. 31, 2010, and will cover, for example, payments made to Electricians, plumbers, and any other professionals while they are earning the rental income.

While rental property owners will not actually issue the required 1099s until early 2012, they need to start keeping adequate records of payments starting Jan. 1, 2011, so they will be prepared to issue correct 1099s. They will also need to obtain the name, address, and taxpayer identification number of the service provider, using Form W-9 or a similar form.

Microsoft Dynamics –GP can help you get organized and help you make this reporting requirement run smoothly next January.

By Sherwood Systems – Arizona Microsoft Dynamics GP Partner

New Rules Require Rental Property Owners to Issue 1099s Starting With the Tax Year 2011. is a post from: ERP Software Blog

Commission Tracking in Microsoft Dynamics GP

Ed Bonaski, Sherwood Systems — Sat, 26 Feb 2011 22:44:27 +0000

Many of the clients I work with have commission plans for their salespeople and ask about the capabilities and features of Microsoft Dynamics GP for commissions tracking. The software product itself has basic commissions functionality, and there are some 3^rd party ISV products that specifically handle more complex commissions requirements than are found in the basic software product. My personal recommendation when it comes to commissions requirements is twofold:

First, make certain the correct salesperson is captured on the transaction and
Second, make commissions a reporting exercise.

The primary reason I recommend treating commissions this way is that Microsoft Dynamics GP does an excellent job of capturing and tracking information (including its own basic commissions calculations). However, the application does not allow you to change posted transactions. So it is not possible to correct a commissions calculation (even as basic as changing the percent) on a posted transaction. Most organizations I have done commissions work for change their commissions structures annually – often at the start of a new year (e.g. January 1^st). And just as often, they don’t finalize the revised commissions plan until sometime later (e.g. March 1^st) but being retroactive to the first of the year. That means there are many posted transactions with old commissions calculations that cannot be changed. Rather than be concerned about that data – let’s keep it simple: make sure the correct salesperson is recorded on the transaction and then make commissions a report where the new rules are structured in the report logic. That also gives the organization the ability to look at “what if” scenarios, such as running the “new” commissions plan against last year’s data to see the impact of the new plan.

By Sherwood Systems – Arizona Microsoft Dynamics GP Partner

Commission Tracking in Microsoft Dynamics GP is a post from: ERP Software Blog

Data Flow in Microsoft Dynamics GP

Ed Bonaski, Sherwood Systems — Tue, 01 Feb 2011 18:45:43 +0000

In working with Microsoft Dynamics GP users, we’ve found a common area of confusion abount the flow of data in the core modules – Payables, Receivables, General Ledger, Inventory, and Sales Order Processing. While the concepts are the same, the behavior is a bit different for each of these modules. Effectively, there are 3 sets of tables: Work, Open, and History. In theory, Work tables contain un-posted batches of transactions; Open tables contain posted transactions with some open balance (and Open transactions cannot be edited); History tables contain transactions with no open balance.

In General Ledger, the Work tables contain un-posted journal entries (debits and credits), the Open tables contain all debits and credits for open fiscal years (along with years that are closed but have not been moved to history), and the History tables contain all debits and credits for fiscal years that have been closed (and cannot be reopened to make any adjustments).

In Payables Management, the Work tables contain un-posted vendor invoices (vouchers) along with un-posted credit memos and un-posted debit memos. When posted, these transactions are moved to the Open tables – and the General Ledger is updated along with vendor summary data. Once Payables checks are created and posted, the check itself along with vendor invoices that have now been fully paid by those checks, are moved to history. The movement of zero balance records from Open to History is automatic in Payables Management.

Receivables Management is very similar to Payables, with the big difference being “Paid Transaction Removal” must be run to move fully paid invoices (and fully applied customer payments) from Open to History. The reason this is not automatic like Payables is that in Receivables Management, you may wish to print a customer statement of transaction activity since the last statement. Since the statement logic only pulls data from the Open table, moving zero balance records from Open to History is put under a user’s control.

Inventory Transactions (adjustments, variances, and transfers) have only Work (un-posted transactions) and History (posted transactions) since there is no concept of “open” inventory.

Sales Order Processing (SOP) functions similar to Inventory – all documents currently being worked (quotes, orders, invoices, backorders, and returns) are in the Work tables. Quotes, Orders, and Backorders all transfer to other document types, with the original document moving to History and the new document in Work. Only Invoices and Returns “post” – and it’s during posting that documents move from Work to History, Open receivables are created, general ledger is updated, and on-hand inventory quantities updated.

I hope this helps clarify how different documents move from Work to Open to History.

If you’re looking for specific Microsoft Dynamics GP or CRM information, you can also check out the resources on the Sherwood Systems website. And if you’re located in Arizona or New Mexico area, contact Sherwood Systems for assistance in determining if a technology solution can help your organization better serve your business needs. (877) 943-9696

by Ed Bonaski, Sherwood Systems an Arizona Microsoft Dynamics GP Partner

Data Flow in Microsoft Dynamics GP is a post from: ERP Software Blog

Seven Ways to Make the Accounting Department More Efficient

Ed Bonaski, Sherwood Systems — Thu, 16 Dec 2010 22:58:32 +0000

Efficiency is the name of the game these days. It’s no secret that “doing more with less” is the mantra of almost every business in the US today. In that quest for efficiency, a close examination of the accounting department might be one area that’s been overlooked in the past.

In this excellent article from the Journal of Accountancy titled “Make Your Accounting Department More Efficient”, we learn how to lighten the load in seven ways. Examples include “conduct process walk-throughs”, “establish process metrics” and “reward success”. One in particular caught my eye – it’s called “take advantage of unused system functionality”. The writer states “If you are using any of the mid-to-large-size accounting software packages, chances are you are not using it to its potential…”

Investment in an accounting or ERP system such as Microsoft Dynamics GP can be a big decision. As a business owner, it’s important that you fully utilize the product – and services – you’ve just invested in. If you do, you’ll find that the seven steps to efficiency won’t be daunting at all. In fact, you’ll probably already have them covered!

If your organization is located in Arizona or New Mexico, contact Sherwood Systems for assistance in determining if a technology solution can help your organization better serve your business needs. (877) 943-9696 – edb@sherwood.com. By Ed Bonaski, Sherwood Systems – Arizona Microsoft Dynamics GP Partner

Seven Ways to Make the Accounting Department More Efficient is a post from: ERP Software Blog

ERP Software Blog » Arizona Microsoft Dynamics GP

Is it Time for an Annual Analysis and Evalution of Your Business Technology?

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