During the creation of a new customer, vendor or item card, assigning that new record to a Class will automatically default the class values to the new record.  This can make setup easier and ensures that important fields have the default value for that field.  For instance, if your company initially offers a specified, or an unlimited, credit limit to your customers, this credit limit value can default from the class.  In the Vendor class, a Tax Type of “Miscellaneous” can default for classes used for consultants or outside services, thus flagging them as 1099 vendors and ensuring that payments to those vendors are captured from the first transaction.  Payment Terms and Maximum Write Off amounts (commonly used features available on both the Vendor and Customer Class setups), can be automatically added to new Customer or Vendor records..

Inventory Item Classes are also capable of creating defaults for new items.  The Item Type (Inventory, Service, Fee, Misc., etc.), Valuation Method (FIFO Perpetual, LIFO Periodic or Standard), and Quantity and Currency Decimals can default from the Item Class to be sure that the proper options are selected during the creation of a new item.  These values cannot be changed after the item is saved so it is important to select the appropriate option from the start.  Unit of Measure, Price Groups, Price Levels, tax options and User-defined Categories are among the other options available to default from the Item Class.

General Ledger Distribution Account defaults can be set up by class.  This feature is frequently used on the Item Class where Inventory, Sales, Cost of Goods Sold, etc. accounts vary for different classes of items or on the Customer Class when groups of customers are assigned to different Sales, Cost of Goods Sold, etc. accounts.  If groups of vendors or customers use different Accounts Receivable (AR) or Accounts Payable (AP) control accounts, they can default from the class to reduce data entry errors.  If a company only uses one control account, the company-wide default can be set up in the Posting Accounts setup and then the accounts that vary by groups can default to the cards from the class.

Only options generally common to the assigned master records should be selected on the Class Setups and all other fields can be left blank.  For most companies, Maintain History check boxes should normally be selected on all class setups.

During the setup of a new Customer, Vendor, or Item card, the default values from the selected class will populate the appropriate fields.  The default values can be overridden manually for the options that are specific to that customer, vendor, or item.  During transaction entry, GP only pulls defaulting values from the card – never from the class.

If all of the master records that have been assigned to a class always use the same options, changes to all assigned records can be made from the class and rolled down (“pushed”) to the cards assigned to that class.  This feature can only be used if options are never overridden on individual cards because all defaulting values from the class – including blanks – will be pushed to the assigned cards.

Many GP standard reports, inquiries and utilities allow users to select customers, vendors, or items by class.  AR and AP aging reports can be run by class or a range of classes.  If a company uses multiple AR or AP GL control accounts, it is possible to use the class assignments to create aging reports to help reconcile the subsidiary ledgers to those accounts.  Vendor classes can be used during check selection which is particularly valuable if, for instance, you want to pay your employees or some other group of vendors in a separate check run.  Also, several utilities allow the user to select records by class or range of classes – notably, items can be assigned to sites by class range and stock counts can be created by class range.  If you want to be able to select ranges of classes, it is important to create a Class ID naming scheme that will allow you to select a range of similar classes while excluding others.

By using classes wisely, your company can ensure that important fields are populated, reduce data entry errors during master record creation, and improve your reporting options.

Posted By:  TMC, your Los Angeles CA Dynamics GP Partner.

With Dynamics GP, Classes Matter! is a post from: ERP Software Blog

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Most companies are very familiar with the creation and analysis of their quarterly and annual financial statements.  These documents are vital for the long-term view of a company’s results and their future prospects.  With Dynamics GP and FRx, these financial reports are very easy to create and distribute.

For a more immediate and detailed view of a company’s current position and near-term prospects, additional views of the company are needed.  Typically, these are expressed as ratios, and are collectively known as management metrics.  Return on investment (ROI), for example, is a tool commonly used to determine which investment option would yield the highest return.  By comparing the ROI of competing potential uses for the company’s resources, managers can identify the optimal investment strategy.

Building on the basic ROI model, a company can include a factor designed to identify and quantify the relevant risk factor on the investment options being considered.  Investments that yield a very high return may also include a very high risk component, and a prudent management team may choose to pursue an investment with a lower risk factor, accepting the slightly lower return that it will produce.

With Dynamics GP and the full complement of data analysis tools that is provides, your company can quickly adopt and benefit from a full range of these metrics.  By moving from a highly subjective world of “this investment feels right” to a more objective world of metric creation and analysis, the ability to “Manage by Metrics” will result in the identification of optimal strategies and the pursuit of appropriate opportunities.

Other Management Metrics that are supported by Dynamics GP include:

Financial Metrics:

• Assets under Management
• Claims Loss Ratio
• Operating Ratio
• Inventory Turns
• Current Ratio
• Quick Ratio

Business Metrics:

• Days Sales Outstanding
• Days Purchases Outstanding
• Days of Working Capital
• Days of Inventory Outstanding
• EBITDA

Implementing a complete business management solution like Dynamics GP will provide your management team the necessary data and business analytics tools needed to use key metrics to actively manage your business.

By TMC, your Los Angeles Dynamics GP Partner

Manage By Metrics With Dynamics GP is a post from: ERP Software Blog

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• Timelines – When implementing ERP software for an international / multinational company, imposing a strict timeline / deadline can be counterproductive.  Allow the timeline for your project to be determined based on the systems’ requirements and constraints.  Once you have determined the full scope and effort of the project, allowing for the inevitable delays and unforeseen challenges, agree to a realistic timeframe for your project.  Don’t work backwards from a preferred go-live date, and then try to force your project to fit within that artificial timeframe.
•  Budgets – As you make progress toward your ultimate goal, the successful deployment of your new ERP system, your initial budget May need to be constantly reviewed and updated.  Accept that at the kick-off meeting you will not be able to accurately forecast all of the different challenges that will arise, and allow your budget to be flexible enough to accommodate these changes. 
• Processes – A successful ERP system implementation will include the adoption of “best practices,” more efficient and cost-effective ways of achieving more than your current system can support.  Some of the changes will be to your processes, not just the new software.  Implementing a new software package merely to accommodate your existing business practices and policies means leaving too many benefits on the table.  A successful implementation will result in new approaches to existing challenges and should open the eyes of your employees to maximize the potential benefits of your new system.
• Project Team – When selecting the key members of your project team, be certain to include executives, management and key individuals responsible for day to day operations.  The executives will set the strategic vision for the project, and the managers and key employees will help determine the proper processes to support that strategic vision.  Excluding representatives from any level of the company may result in a significant oversight, and could delay the successful implementation.  Everyone involved will be putting in a tremendous effort; don’t let the final result fall short by not including all perspectives.
• Communicate – keep the entire team informed as to progress, key milestones and setbacks along the course of the implementation.  Timely and open feedback as to the progress made to date, and the challenges still be to be faced, will keep everyone on the same page and focused on the common goal.

Utilizing Project Managers to monitor the whole implementation process will ultimately save the company money.  Ultimately expanding your business to the global stage will require many changes that will allow for your company to communicate clearly with the rest of the world.  Microsoft Dynamics GP (Great Plains) provides a platform to let your business stand out and avoid common cultural communication problems that can arise.

By TMC, your Los Angeles Dynamics GP partner

Implementing Dynamics GP For Multi-National Companies is a post from: ERP Software Blog

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The Microsoft Business Solutions group is advising customers to be aware of changes to European Union (EU) tax law that will come into effect Jan. 1, 2010.

Microsoft Corp. has released updates to existing functionality to enable Microsoft Dynamics ERP users to include services in the European Commission (EC) Sales List report.  This report previously includedd only the sales of goods to companies in other EU countries.  With the upcoming changes to EU tax law,  services also need to be included in the report.  In addition, the layout of the paper report and the definition of the electronic file are different in each of the 27 EU countries.  Companies that supply services across borders and have not yet redefined their financial and business management processes and trained employees to deal with the upcoming changes are urged to move quickly to comply with them.

By installing the VAT 2010 updates, customers on the Microsoft Business Ready Enhancement Plan can comply quickly and easily with the changes in regulations.  All customers on an enhancement plan and a supported version of Microsoft Dynamics ERP are entitled to receive these Microsoft software updates.  These VAT 2010 changes highlight the ongoing need for all businesses to be able to adapt quickly to regulatory changes.

Microsoft Dynamics helps its customers with regulatory compliance by monitoring the local legal requirements in the markets it serves and making the necessary changes within the software itself.  The VAT 2010 updates are a good example of how Microsoft Dynamics solutions can help ensure that business processes can transition smoothly in response to a whole host of new legislation.

Microsoft has released updates to Microsoft Dynamics GP that support VAT 2010 within the core application and encompass the specific requirements in each country.  Further releases will become available as subsequent announcements are made by the EU member states that have not yet specified local details.

“It’s important that our customers and partners have the tools they need to help ensure compliance with basic legislation in whichever region they operate.  By making it part of the core functionality of our system, it is quick and easy to update,”  said Crispin Read, general manager, Microsoft Dynamics ERP.  “For customers on a Business Ready Enhancement Plan, this should be simple.  Those who are not, and have not yet taken action, shouldn’t be complacent about making these changes.”

By TMC, your Los Angeles Dynamics GP Partner

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1.     Take small steps to implementation

2.      Focus on the long term benefits of the implementation

3.      Don’t make the new software feel like the old software

4.      Be flexible with the implementation plan

Every company, and every software implementation, is a little different.  Each circumstance may require small adjustments, and these will continue as the project moves forward.  Beginning with the initial project scoping, requirements gathering and gap analysis, thru the pilot program, user and system testing, your overall project perspective should be focused on achieving your primary goals and objectives.  Be prepared for the small deviations that will inevitably occur, and do not let the overall project get derailed. ERP Implementation projects can be successful by working together and focusing on the overall benefits of the new system you will achieve.

To read this complete blog, go to TMC

By TMC, your Los Angeles Dynamics GP partner

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If that wasn’t enough, Microsoft has just decided to sweeten the pot.   They have just released a new promotion called “Stimulate Your Business – Trade Up to Microsoft Dynamics ERP”.  This promotion is an escalating trade-in value based on the Microsoft Dynamics GP edition and number of users a customer purchases.

The offer is summarized as follows:

Purchase one Foundation Pack and 3 additional Business Ready Licenses (BRL) BE or AM user license and receive a trade in value on each new Microsoft Dynamics GP user license up to the following:

There are a few notes, inclusions and exclusions, but nothing to be concerned about.  This is an amazing offer!  So amazing we decided to go viral with it on Youtube.   So, if you want to have a little fun, watch the Youtube video, then call us, and see if the promotion is a smart move for your business.

by TMC, Southern California Microsoft Dynamics GP Partner

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In most companies, the task of capturing data in the form of business transactions, is relegated to a fairly small percentage of the total workforce.  In many companies, as few as 15% of the total workforce might have direct access to the company’s accounting system.  (Actually, the 15% figure represents those employees that have a User ID and password.  Typically, about half of these employees actually USE their system).  This leaves 85% of your workforce (and perhaps as many as 93%) with no direct access to the accounting system, the data it holds, and the information they need.

Accounting systems are, by their very nature, very good at capturing data such as payables transactions, accounts receivable and cash receipts.  Every day, your systems are capturing more and more data.  But capturing raw data is only a small part of the total needs and requirements for an ERP system.  It is the ability to transform that data into information, and to then make that information readily available to your decision makers, that is the true measure.

How then, do those 93% of your employees get the information they need to make decisions and run the business?  Choices include: paper reports, produced and distributed by the accounting staff?  E-mails and inter-office requests?  Casual conversations in the hallways?  How many decisions are being made without the benefit of access to the data already in your system?

With Microsoft Dynamics GP, we are committed to “extending the reach” of the accounting system.  By converting all of the data in the system into actionable information, made readily available to the entire workforce, and easily accessible thru their preferred software productivity suite. 

Businesses need solutions that reflect the way people really work—the tasks they perform, the information they use, the tools and formats that make sense for their individual jobs and that help them work more productively. The guiding principles behind Microsoft Dynamics GP are designed to meet those needs. They are the foundation for a solution that offers a personalized user experience, deep interoperability with the applications people use every day, and deployment options that fit customers’ specific organizational needs.

Microsoft Dynamics GP and the Microsoft® Office system work together to help people optimize productivity, access and analyze information, and collaborate and connect secure­ly across the entire organization—regardless of whether they’re working in Microsoft Dynamics GP or other applications. Microsoft Dynamics GP combines robust business management capabilities with products and technologies that include:

Microsoft Office system productivity, analysis, and communications applications, including Office Excel, Office Word, Office Outlook, and Office PowerPoint.

Microsoft Office SharePoint Server 2007, offering powerful collaboration, workflow, and document management that reaches across internal teams, departments, and beyond to customers, suppliers, and partners.

Additional Microsoft Office system products and technologies, including Office Visio, Office InfoPath, Microsoft MapPoint, and more.

With Microsoft Dynamics GP, people can review, edit, and manipulate data using Office Excel, one of the world’s most familiar spreadsheet applications. By taking advantage of Office Excel for data analysis, people working within Microsoft Dynamics GP can quickly provide information to decision makers and stakeholders who aren’t logged into the system, extending business intelligence across the entire organization.

Communicate with your Customers, Vendors and Employees using Office Word as your letter writing tool.  Connected to your Dynamics GP database, quickly and easily create letters and deliver them via e-mail with Office Outlook.

Your employees can now access the information they need to make decisions and move your business forward with the tools and software available on 95% of the desktops in American businesses.

Minimize the learning curve, and eliminate the fear of the unknown, for new employees.  Significantly reduce the strain on your accounting and finance team, as they will no longer be the primary report-generation and report-delivery group for your company.

We have provided an outstanding White Paper on the capabilities of Microsoft Dynamics GP 10.0 to Extend the Reach within your organization.

 By TMC – Southern California Dynamics GP Partner

How Using the Right Accounting Software Can Improve Your Decision Making by 93%! is a post from: ERP Software Blog

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Microsoft Dynamics GP allows you to move all your business’ routine tasks such as timesheets, expense reports and other financial reports online. Moving these reports online significantly decreases your overall paper usage and saves the environment!  In addition to routines, Microsoft Dynamics GP allows you to implement workflows that go directly to department managers or other decision makers in the company.  By making use of the SharePoint server, managers can easily route all purchase orders, sales orders and other important documents directly to  those designated on the workflow chain.  Once final approval is met, the document is finalized leaving an audit trail of approvals, without any paper.

In addition to improving business operations, Microsoft Dynamics GP makes life a lot easier for Human Resources departments.  It allows your management staff to view all important files such as skill certifications and resumes thus eliminating the hassle of searching through files strewn across an office.  Once in the system, Business Alerts and Reminders can notify you when certifications are coming due.

 Since paperwork is no longer a necessity, access to information can be gained from anywhere.  Managers gain the ability to remotely access all important information and make it available to all qualified employees, customers or vendors. With Microsoft Dynamics GP’s built in security access, all files are protected, no matter where they are accessed from. 

Microsoft Dynamics GP (Great Plains) is the smart choice for your business and it’s the right choice for the environment. 

Learn more at www.abouttmc.com a Southern California Microsoft Gold Certified Partner specializing in Microsoft Dynamics GP and a cleaner, greener environment.

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During the evaluation process of the potential replacements, many factors come into play:  System cost, the product’s functionality, a reputation for stability and effectiveness, and the ability to migrate the historical data from the old system.  All of these considerations are valid, and should be a part of the purchase decision.

One more vital consideration, however, should be your company’s employees, both current and future.  Will the new system be something that is familiar to your employees?  Will the employees readily adopt the new system?  It can be both very frustrating, and very expensive, to go through the implementation process only to see the new system languish due to a lack of “buy-in” from your staff.

Microsoft Dynamics GP is modeled on, and tightly integrated into, those products most familiar to your workers:  Microsoft Office and Microsoft Outlook.  By adopting the look and feel of Outlook, and using Word and Excel as the primary communications and reporting tools, Dynamics GP can dramatically increase the successful adoption of a new system, resulting in satisfied and productive employees.

By TMC – Southern California Dynamics GP Partner

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Intuit’s Quickbooks has many things to offer to many businesses, but if you are counting financial periods, the count will end at 12.  Quickbooks can only accommodate 12 periods in a year, so for any business that wants to keep track of more than that, Quickbooks has just hit the wall.

There are many reasons to consider using more than 12 periods in a fiscal year.  Adopting a fiscal calendar of 13 periods, with each period consisting of exactly 4 weeks, allows for more accurate comparisons between periods.  Consider a retail establishment or a restaurant, where the majority of their business is conducted on the weekends.  To compare a month that has 4 weekends to a month that has 5 weekends can produce very misleading results.

Many companies do need more than 12 periods in a year.  Any company that wants to include a fiscal calendar that has a 13^th period for adjusting purposes, or a manufacturing concern that wants to use a weekly period (often is a 4-4-5 calendar), will have to look outside Quickbooks for a solution.

Microsoft Dynamics GP offers far more flexibility than Quickbooks, offering the capacity to accommodate as many as 368 fiscal periods in a fiscal year.  That works out to daily fiscal periods, plus leap-years, plus two adjusting periods!  No matter what fiscal period definition your company requires, Dynamics GP can provide the solution you need.

 By TMC – Southern California Dynamics GP Partner

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