Posts tagged Accounts Payable
Dynamics GP 2016 R2 released - what you need to know

December 2nd marked the release of Dynamics GP 2016 R2, the second version release in the Dynamics GP 2016 cycle. This release is heavily focused on fixing issues that have caused inconvenience to users in previous releases. This is great news for companies that have been using previous versions of GP and waiting to upgrade.

Read More
How to Void Accounts Payable Transactions

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.

Read More
Using Reconcile to GL for Accounts Payable Reconciliation

When your Accounts Payables GL account does not tie to your sub-ledger payables, 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.

The Reconciliation Date will default as the user date.  Enter the Date range that you need to reconcile between your sub-ledger and GL.  The From date should be the last time you know that these tied.

Read More
Month End Reconciling Process for Accounts Payable

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.

Read More