New Feature for Dynamics GP 2013: Reconciling Inventory to the General Ledger

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We are very excited about the new features and enhancements included in Microsoft Dynamics GP 2013, slated for released at the end of the year; we believe that clients have plenty to look forward to. This is an overview of how one of the new enhancements can make your life easier.

How many hours have you spent trying to reconcile your inventory sub-ledger to your GL control account(s) manually because there was a discrepancy?  You know that this is a very time consuming process, much like finding a needle in a haystack.

The good news is that Microsoft Dynamics GP2013 effectively finds these needles for you!  This is just one of the many ways that Dynamics  GP2013 can save you time and help you to better manage your business.

In Dynamics GP2013 you now have the ability to reconcile Inventory to the General Ledger using the Reconcile to GL Window.  (Financial >> Routines >> Financial >> Reconcile to GL)

 

 

The Reconcile to GL window is used to generate a Microsoft Excel spreadsheet that can help you match transactions in General Ledger with the original transactions in Payables Management, Receivables Management, Inventory Control, and Bank Reconciliation. The reconcile routine will not change data automatically, but helps you identify those transactions that may need to be corrected!

 

The key benefits of this process:

  • Transactions from Inventory are matched with General Ledger distributions using the journal entry, transaction source code, document number, posting date, and extended cost amount. This process may take some time, depending on the number of transactions being processed.
  • Transactions are potentially matched if some, but not all, of the information matches. For example, if the source code and date for the transaction matches the code and date in General Ledger, but the transaction amounts don’t match, the transactions are considered potentially matched and will appear in that section of the spreadsheet.
  • If the transaction exists in Inventory but not in General Ledger or vice versa, the transaction is unmatched and will appear in the Unmatched section of the spreadsheet.

 

Users can analyze differences between the Historical Inventory Trial Balance and the GL inventory accounts.

You can also specify an output file location!

Another feature adds drill back functionality to records in the resulting Excel spreadsheet for reconciliation, allowing quick access to additional information related to each record.

BDO Solutions is a national firm with local practices throughout Canada, a Microsoft Gold Certified Partner and Reseller of the Year in Canada for 2010, 2011 and 2012.

By Florence Singh, Consultant, BDO Solutions. Leading Canadian Microsoft Dynamics ERP & CRM Partner.

 

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