One of our clients wanted a simple way to generate a report to determine if they had accounted for all necessary accruals for recently closed accounting periods through their accounts payable system. A popular test in accounting is the search for unrecorded liabilities, normally done by an outside auditor to ensure that all liabilities are accrued into the proper period. Company controllers can perform this task using Dynamics GP SmartList so as to alleviate current and future headaches.
For example, assume that it is October 27thand a company is in the process of closing accounts payable for September. An invoice is received that is dated for September but will have a posting date for October. created a SmartList that included both the document date and posting date so that invoices with a date for a previously closed month, posted after that month has been closed would be exported into Excel. The client could then sort the data in Excel and identify these transactions and subtotal them by account. From here they could create a general ledger entry by account, as necessary, of those items that needed to be accrued into the prior period.
Problem solved! This is an easy way to use Microsoft Dynamics GP to effectively search for unrecorded liabilities.
by Micro Force –
 |
More Posts By Micro Force
- Dynamics GP Positioned to Tame the Upcoming 1099 Nightmare
- Dynamics GP v10 Quirk Fixed for Dynamics GP 2010
- Vertical vs. Horizontal Solutions – Dynamics GP Goes Both Ways!
- Does your Dynamics GP Accounting Software Contain a Ticking Time Bomb?
- Scenario Planning For The Eventual Recovery – ERP Is The Key
Related Posts
- Put Your Dynamics GP Data to Work by Data Mining with Excel
- Extension of Microsoft Dynamics GP Payroll Functionality with Integrity Data Products Makes for Happy Employees and Payroll Managers
- FREE Products for Microsoft Dynamics GP
- How to Prevent Fraud and Embezzlement with Dynamics GP and Mekorma MICR
- Microsoft Dynamics BI Blog #1 – BI Analysis Cubes Differentiate ERP Analysis
Hello all, here every one is sharing these kinds of knowledge, therefore it’s pleasant to read this web site, and I used to pay a quick visit this web site everyday.