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.
Problem solved! This is an easy way to use Microsoft Dynamics GP to effectively search for unrecorded liabilities.
by Micro Force –