When Finance or banking changes occur, you might find you need to order new check stock! Maybe you have a new printer and its printing a little more to the left? Or perhaps you ordered window envelopes and the address doesn’t quite line up? New check stock, new envelopes, or new printers can often mean […]
The question of “What is the correct way to reconcile items from my bank statement?” is common. In Dynamics GP, there are multiple ways to add lines to the bank reconciliation, and they are all correct from an accounting standpoint. The questions that you must ask are: What am I trying to accomplish? How much […]
Before the Supreme Court of the United States issued its ruling in South Dakota v. Wayfair, Inc. (June 21. 2018), states could only tax sales by businesses with a physical presence in the state. Wayfair changed that long-standing rule. The court found the respondents’ “economic and virtual contacts” with South Dakota to be a sufficient […]
Jet Reports has released a new feature called Jet Reports Financials for Business Central to help you extract the financial data you need from your Microsoft Dynamics 365 Business Central environment. Below are instructions for setting up the free trial and creating your first report. Install the Extension Go to the Extensions page in your […]
If using Chrome with Dynamics 365 for Finance and Operations, you may run into an issue preventing you from editing or creating new financial reports using the Report Designer tool (Management Reporter). When launching the Report Designer tool from within Dynamics 365 using a Chrome browser, I was blocked by an error that says “Application […]
Sharing data between companies is usually a huge conversation during an implementation. What data should we share? What data can we share? How do we share it? Those are some of the typical questions. I want to use this article to discuss a couple of the options to replicate or share data cross companies in […]
With the year at completion, it is time to think about processing a year-end close in AX. Dynamics AX has a different year-end close than most systems, as you are able to run it as many times as you need. In other systems when processing a year-end close, once you do it, there is no […]
The steps required to close a fiscal year in Dynamics NAV are relatively simple. First, accounting periods need to be closed via the “Close Year” function on the “Accounting Periods” page. Secondly, a journal needs to be created via the “Close Income Statement” process. The closing general journal that is created should be reviewed, then posted. If […]
I was recently training some controllers on month-end reconciliations in Dynamics AX – how to reconcile the sub-ledger to general ledger. We had a small discrepancy in Accounts Payable and I wanted to show them how to track it down. I’ve always taken a three-step approach to reconciliations: Review the relevant Ledger reconciliation report. Analyze […]
Time is running out for companies to make the appropriate changes in order to be compliant with ASC 606. The new guidelines are effective for public companies for reporting periods beginning after December 15, 2017. Private companies and not for profits need to comply with the reporting period following December 15, 2018. However, everyone can […]
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