Microsoft Dynamics GP was created with small to mid-sized businesses in mind with scalability to continue growing as your business does. Many SMB (small to Mid-Sized Businesses) organizations are comprised of multiple entities, each with their own unique chart of accounts. Taking organizational growth into consideration, the developers at Microsoft have continuously added functionality to Dynamics GP to enhance daily procedures, and make your business more efficient.
Intercompany Processing not only allows users the ability to eliminate tedious duplicate transaction entry, minimize clerical errors but saves staff countless hours, enabling them to continue on to other important tasks.
What does Intercompany Processing in Dynamics GP Do?
Intercompany Processing in Dynamics GP allows users to easily exchange transactions between companies in your organization. This feature provides unlimited flexibility in defining intercompany relationships by means of ‘due to’ and ‘due from’ accounts. Unlimited account distribution breakouts streamline the process of managing complex intercompany transactions. This capability is also extended to fixed and variable allocations.
Intercompany Processing gives you a high level of transaction control. Transactions between companies can be either single-use or recurring, allowing for periodic intercompany transaction processing. When intercompany transactions are posted, the ‘due to/due from’ transactions are automatically generated, saving time and keystrokes. Intercompany transactions posted to the destination company appear in the destination company’s journal entry area for review before posting through to General Ledger.
With its comprehensive inquiry system, GP intercompany will allow you to trace transactions back to their origins in seconds, even across companies. The system provides solid audit support by including with each transaction an originating audit trail code, journal entry number, and company ID.
Are there other features of Dynamics GP you aren’t currently taking advantage of or would like to know more about? Let us know!