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4 New General Ledger Features in Microsoft Dynamics GP 2010!

Posted by Ben Redfield

Nov 11, 2011

For all you GP’ers out there, Samantha Merrill and I found this great write up by Evarsys.com’s David Hobbs on new features in Dynamics GP general ledger. We like David’s approach, for laymen-folk, and we will be sharing his posts more often!

Here’s the scoop:

1. You can now clear the distribution amounts for all transactions on recurring batches after you post a batch. You can navigate through the distribution lines and enter new amounts for each period.

2. You can combine multiple General Ledger budgets into a single, master budget, one budget at a time. The master budget can be completely new and have its own budget ID, or it can be one of the two original budgets. This feature is helpful when multiple departments in your organization create their own budgets, which must then be consolidated. The new Combine Budgets window simplifies this process.

3. Microsoft Dynamics GP now includes features that meet compliance standards for IFRS. You can identify transactions for local GAAP, IFRS, or other accounting purposes, and you can define ledgers for each purpose. You can select one or more ledgers for financial reports and inquiries. Also, you can generate distributions automatically as part of the year-end closing or currency revaluation process.

4. The new reporting ledgers are treated as attributes in Management Reporter.  In MR you’ll setup an attribute filter in your column or row.  I’ll cover this in another article.
2010 GL Setup Management Reporter

If you aren’t a GP user and you’re looking for a great Microsoft Partner to help you migrate to Dynamics GP in the cloud, check out our website, just click the GP link!

Topics: Microsoft Dynamics GP, Business Reporting, SMB Financials, Small Business Decisions, ERP in the Cloud