Topic: ‘Purchasing’

If you work with Dynamics GP Payables Management (PM) and Receivables Management (RM) modules you will notice a difference between how fully paid transactions are handled. 

• In Payables Management a vendor invoice that you have paid in full will be automatically transferred to History.  The Dynamics GP inquiry window will show “HIST”.  
• In Receivables Management the Sales Invoice that you have received full payment and have applied the full amount of the payment to the Sales Invoice is still in “OPEN” status.   

Why does Dynamics GP Receivables Management handle fully paid documents differently?

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Microsoft Partnersource had a an article that posted this morning, “No Sorting Options for EFT Check Remittances in Microsoft Dynamics GP 10.0″

I know that many of you print Remittances after your EFT  run and you have noticed that it will only print by check number.  Well, here is one “How To” solution that will allow you to print by Vendor Name instead.

CLICK HERE for full article.

It’s not to late to register for What’s New in Dynamics GP 2010 Webinar tomorrow June 1, 2010 at 11AM.  And it’s FREE!!!

CLICK HERE to Register

Date: 6/1/2010 11:00-12:00 ESTSpeaker: Lisa Price, Principal ConsultantLearn about the new features available in GP 2010.

Major make-over for the Payables Management “Select Payables Checks”  Build Batch Window….

Allowing users to select multiple ranges.  See for yourself.

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Being from an accounting background and after years of mannually reconciling AP/ AR in an Excel spreadsheet Microsoft finally developed the “Reconcile to GL” function in Dynamics GP.  Introduced in version 10,  automatic reconciliation capability has long been an idea of novelty for most accountants.  Wouldn’t you agree?  Now, it has arrived.    Read the rest of this entry »

By now you  probably have heard of the Microsoft Dynamics GP Miscellaneous Check window.  A simple  to use window that  looks a little like it is from the QB (QuickBooks)family.  This window is easy to use and  quick for processing a check or multiple checks, however, there are some differences between using this window and using Payables Management to cut a check.  What you should know… Read the rest of this entry »

The New Year has arrived and with it the 1099 processing cycle has begun. In a previous blog series here at Dynamics Care we addressed processing 1099s in Dynamics GP.  Now that the actual work to get the 1099s out the door is at hand we would like to bring to light a few potential items to watch out for.

1. Be aware of changes to the 1099 tax type fields on the Vendor Master card during the year.   Go to Cards >> Purchasing >> Vendors >> Options Button.  There you will find the “Tax Type” and “1099 Box” fields.  Let’s say, for example, the Vendor was originally selected as “Not a 1099 Vendor” and payment transactions were posted.  Then at a later date these fields were changed to Miscellaneous, Dividend or Interest type.
   • Dynamics GP does not go back and capture the previous transactions to add to the 1099 amount.  It only accumulates amounts from the time of the change going forward. 
   • Amounts paid year to date can be queried by going to Smartlist >>Purchasing >> Vendors Smartlist.  Open and add the column Amount Paid YTD and compare the total to the 1099 total. 
   • To change 1099 amounts for a Vendor go to Cards >> Purchasing >> 1099 Details.  Here you can type in the amount in the 1099 category to print on the 1099.
2. Differences between Dynamics GP versions.  Previous to v.9 in order to have accurate 1099 data you had to close the payables module moving the totals to history.  In v9 and v10 this is not necessary as Dynamics GP captures 1099 data by year and month in a 1099 table.  Also, v9 and v10 allows you to print 1099s at any time during the year. 
3. If you try printing your 1099s and only zeros print.  In Dynamics GP 10 Service Pack 1 there was a bug which was corrected in Service Pack 2.  If you experience this you will have to install Service Pack 2 or greater.
4. Sometimes seen in Dynamics GP v10 if you have vendors with exactly a $600 amount that does not print out a 1099. Go to (Microsoft Dynamics GP >> Tools >> Setup >> Purchasing >> Payables >> 1099 Setup button.  Change the minimum from $600. to $599.99.

If you have additional items you have come across while processing your 1099s please feel free to leave a comment we want to hear from you.

Have you ever seen Negative Amounts in your Bank Reconciliation window?  They would look something like this…

What may cause negative amounts in the Bank Reconciliation Window? Read the rest of this entry »

(Part 4) of series Dynamics GP 10 and 1099s. 

IRS Regulations, 3^rd party applications and Dynamics GP 10.  Read the rest of this entry »

In continuation of our 4 part blog series “Dynamics GP 10 and 1099s” (Part 3) covers reviewing vendor’s 1099 information and how to make changes.  Read the rest of this entry »