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Intelligent Technologies, Inc.

Streamline Your Accounting with Dynamics GP Project Accounting Retainers

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Depending on what industry your business participates in, you may find yourself needing to collect prepayments or retainer money from clients. Though many of us of us automatically think of lawyers when we hear the word “retainer,” there are many different situations in which they might be useful. For example, you might collect a retainer if the work to be done requires a commitment from the end-customer, or if the materials or labor needed to do the requested work is particularly expensive.

Whatever your reason for using them, I find that many of the accountants I work with are still using spreadsheets to keep track of customer prepayments. Like most manual data entry workarounds, using Excel to keep track of retainers will get the job done, but can be time consuming and error prone.

If your company already uses or is considering Dynamics GP, I have some good news for you. The Microsoft Dynamics GP Project Accounting module includes all the functionality you need to bill, collect, apply and report on retainer funds with ease.

Intrigued? Watch the video below to learn how to set up and use Dynamics GP project accounting retainers.



Want to learn more about Dynamics GP and what sets it apart from the competition? Please visit our website.  If you have questions or need expert assistance with project accounting in Dynamics GP, contact us by phone or email. Our team will be happy to help!


Beth Hodge, Microsoft Business Management Solutions Professional, Intelligent Technologies, Inc., a South Carolina Microsoft Dynamics GP reseller.

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