The movie, Jerry Maguire coined the phrase, “Show Me the Money” and it’s stuck with us for years. Why? Because money talks, money makes things possible, and let’s face it, who doesn’t want more money?
In short, money or cash flow is important to your business. Increased cash flow and a better understanding of your cash flow is appealing to anyone’s ears. Microsoft Dynamics GP can “Show you the Money” through three specific features:
- Collections Management: Collections management in Microsoft Dynamics GP ensures you have all the data needed for accounts payable and accounts receivable. You have a clear indication of when cash is supposed to be coming in as promised from your customers. You know when to expect invoices, how much each invoice will bring in, and how that balances with the rest of your financials. You can also enter in any unique payment scenarios since each of your customers are different.
- Smartlist Builder: Smartlist Builder allows you to create your own custom smartlist that sits in a window within Microsoft Dynamics GP. This feature gives you a lot of power and flexibility with the ability to build your own SQL views and tables to access the data important to your role. It also helps with collaboration across teams as anyone in Microsoft Dynamics GP can see your smartlists if you grant them access. You can also easily export the data into Excel and automatically refresh content, making the cash flow data easy to use for analysis purposes. This insight can streamline the process even more as you can see average number of days it takes for customers or vendors to pay an invoice, helping you make an informed decision on how to improve the overall process.
- Cash Flow Forecast in GP: Cash Flow Forecast is built right into Microsoft Dynamics GP and allows you to create forecast IDs that then show up in a calendar view. On any given day, you can see expected receivables and payables as well as the overall cash flow balance. This type of insight helps you plan for payables, ensuring you have enough cash flow to cover your expenses. You can plan out a week, a month, or even a year.
Insight into your increased cash flow creates the following benefits:
- Know where you stand. The visibility into ins and outs of cash flow helps keep your company on track.
- More control over your finances. With forecast features, you can profitably plan for invoices to ensure you have enough money at any given time.
- Knowledge for better business decisions. When you’re flying by the seat of your pants, it’s nearly impossible to make informed business decisions to help you company grow into the next stage. With more control and insight, you can set yourself apart from the rest.
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