If you are using spreadsheets to track your prepaid expenses while trying to remember to manually enter multiple journal entries each period: STOP! There’s an easier way. Dynamics GP has a feature called Revenue/Expense Deferrals that will calculate and automate the deferral entry process.Read More
Sometimes with Dynamics GP (as with any other accounting system) you just need to be creative.
A common need for Accounts Payable is to track expenses by Vendor without impacting the balance in Accounts Payable. Recently, a client wanted to record employee expenses in the employee’s AP account. However, expenses are reimbursed through an outside payroll service. This means that they wanted to track the expenses by employee but not impact the Accounts Payable subsidiary ledger or the Accounts Payable general ledger account.Read More