It's the time of year for generating and sending out 1099s to vendors. It's the time of year for generating and sending out 1099s to vendors. Dynamics GP has this process built in. You mark a vendor as a 1099 vendor, and then at the end of the year you can print the 1099s. It does all the calculations for you. This is great, until something happens that causes this number to be incorrect in the report. The great thing is that editing 1099s in Dynamics GP is a simple process. Often what is more difficult is determining what the correct number should be.Dynamics GP has this process built in. You mark a vendor as a 1099 vendor, and then at the end of the year you can print the 1099s. It does all the calculations for you. This is great, until something happens that causes this number to be incorrect in the report. The great thing is that editing 1099s in Dynamics GP is a simple process. Often what is more difficult is determining what the correct number should be.

Of course, when it comes to generating 1099s, the first thing you want to do is verify that all your 1099 vendors are designated as such in their Vendor Card. The easiest way to see which Vendors are currently 1099 vendors is to use a SmartList. There is a default SmartList that works great for this. In SmartList, go to Purchasing > Vendors and select the 1099 Vendors* List. This list will populate with any vendors that are marked as a 1099 vendor. From this list you can drill into the Vendor Card to make any changes. If you do not see a vendor in your list that should be a 1099 vendor, you will need to go into their Vendor Card and make them one.

Sometimes a transaction in Dynamics GP needs to be voided. This can happen when an invoice is entered in error or incorrectly, or check was lost or destroyed and needs to be reprinted. In order to correct an invoice, you need to void the incorrect transaction, and re-enter it correctly.

If an invoice has been paid, or a payment applied to it, you will need to void the payment before you can void the invoice. To void a payment in Dynamics GP, go to Purchasing > Transactions > Void Historical Transactions. In the Void Historical Payables Transactions window, enter or select the vendor for the payment you want to void. Then mark the check box in the void column next to the transaction you wish to void. Then click the Void button.

Every so often I come across a client that has been using Microsoft Dynamics GP since the early Great Plains Accounting days. They have done things the old way for so long, they are not aware that there are better options available in the system for completing their daily tasks.

A recent example of this occurred with a client that was using Sales Order Processing. To return inventory, they would select an SOP Type as Return, select the customer, enter the returned items, verify the quantities and price, etc.

When integrating third-party programs into your accounting system, the tendency in implementation is to take the data that is the third party program and force it into the accounting system.

Each month as part of the month end reconciling process you will want to confirm that your GL Accounts Payable account ties to your payables sub-ledger.

First you will want to generate the Historical Aged Trial Balance Report in Purchasing. To do this go to: Purchasing > Reports > Trial Balance. Reports: Historical Aged Trial Balance. Options: Month End or default (this will depend on your report options settings). In the Report Options window you will want to select the date to Print/Age as of, select the last date of the month you are reconciling. I recommend generating this report In Detail (mark the In Detail box), but you could generate it as a summary report.

In my previous blog post Entering Invoices Paid by Credit Card - Non-inventory Transactions, I went through the process for entering non-inventory transactions that are paid by credit card. In this post I will provide the process for invoices related to inventory for Dynamics GP.

A new feature of Dynamics GP2013 SP2 allows users to users to hide the navigation tree in Smart Lists giving them a full screen of data. The first two users in our office that opened a Smart List were thrilled! However, their excitement abated when they realized that the tree view in the navigation pane seemed to be static and left/right scrolling was required to view longer Smart List titles in the navigation pane.

Inventory is simple. It involves the simple processes of receiving specific items, selling specific items and counting specific items. How is it that this simple process with specific items lends itself to so much inaccuracy and confusion? Many of our clients ask the same question, and after many years of dealing with incorrect inventory counts and multiple systems related inventory issues, I have determined a couple of reasons for the inventory dilemma.

Our clients frequently purchase by credit card. While credit card purchases are easy for the purchaser, the management of credit card purchases can be difficult for the accounting department. With the process outlined below, you can accurately track credit card purchases for each transaction, and track the purchases made with a specific vendor as well in Dynamics GP.

Reason codes are a new feature of Dynamics GP 2013. I have found a number of references and blogs about their use, however, none touch on why users have the following occur when they try to enter a reason code:

Occasionally you will have the need to print partial checks out of Dynamics GP. One reason is that you need to create a payment for a deposit, and you have not yet received an invoice. Another reason is that you wish to pay an invoice in multiple payments. In order to create these partial checks, you will need to create the check individually, rather than using Select Checks. Below I have the steps for this process.

If you are enter drop ship Sales Orders in Dynamics GP 2013, using Shipment Notification and are generating linked Purchase Orders from Sales Orders, you may receive the following notice after you transfer your sales order to an invoice and attempt to post the invoice:

Each month as part of the month end reconciling process you will want to confirm that your GL Accounts Receivable account ties to your receivables sub-ledger.

First you will want to generate the Historical Aged Trial Balance Report in Sales. To do this go to: Sales > Reports > Trial Balance. Reports: Historical Aged Trial Balance. Options: Month End or default (this will depend on your report options settings). In the Report Options window you will want to select the date to Print/Age as of, select the last date of the month you are reconciling. I recommend generating this report In Detail (mark the In Detail box), but you could generate it as a summary report.

When your Accounts Receivable GL account does not tie to your sub-ledger receivables, you will need to find the discrepancy. A great tool for this is the Reconcile to GL routine. Before you use this tool you will want to make sure all transactions have been posted through the GL. You can find this tool by going to Financial > Routines> Reconcile to GL.

If you are using, or intend to use the drop ship in Microsoft Dynamics GP, you need to be aware of the availability of the Shipment Notification tool which is included at no charge in the Professional Service Tools Library (PSTL). Shipment Notification is used in conjunction with Sales Order Processing and allows for drop ship sales orders to be transferred to an invoice before enter/match is complete on the purchase order for the drop ship sale.

Reconciling your accounts each month is an important process to complete so that you have accurate and timely financials. You will want to reconcile each of your balance sheet accounts. However, I recommend focusing on the four main account types, and then working on the rest of the account. The four main account types you will want to make sure to reconcile are Cash, Accounts Receivable, Accounts Payable, and Inventory.

Often, I am asked how the drop ship process in Dynamics GP really works. Most of our clients that use the process find it a little cumbersome, and sometimes confusing. In this blog, I will outline the process from Sales Order creation through vendor invoicing.

In order for the drop ship process to work correctly, and to be able to reconcile your Accrued Drop Ship account at month end, you will need:

We discovered an interesting problem following the migration of Management Reporter to a new server. We had exported all of the building block groups from the old system, installing Management Reporter on the new server, and then importing the building block group onto the new Management Reporter install on the new server.

Reconciling your Bank account to your checkbooks in GP is an important part of keeping your checkbooks up to date and accurate. I recommend using the following process once a week to reconcile each of your checkbooks.