General Ledger and Fixed Assets
| Fixed Assets
| Other Financials
· Journal Entry Inquiry for History – there are no options prior to Microsoft Dynamics GP 2013 that allow users to perform an inquiry on journal entries from historical years.
The Journal Entry Inquiry window only shows data from open years.
This feature modifies the Journal Entry Inquiry window to display information for both open – and historical – year journal entries. Adding this functionality will gives users a quick way to view data for historical-year journal entries, saving time and clicks for the users.Journal entry inquiry
· Consolidate Revenue recognition to single GL Entry – The contract revenue recognition process creates a General Ledger batch named LIABI which contains the account information from all market contracts to be posted. Prior to this change, a journal entry was created for each unique contract number.
Now, this batch will contain one journal entry consolidating the account information by fiscal period and year, and user will still be able to see the account detail for each contract line within the single transaction.
Consolidate Revenue recognition to single GL Entry - Contract revenue recognition - Batch Entry
· Reconcile Bank Reconciliation – A common challenge for Microsoft Dynamics GP users is reconciling differences between sub-ledger balance and the balance for the associated GL accounts.
The Reconcile to GL routine, added in GP 10.0 automated much of the work required to reconcile differences for Receivable Management and Payable Management. In Dynamics GP 2013, Microsoft have added the Bank Reconciliation module to the Reconcile to GL routine, helping users analyse differences between the checkbook balance in the Checkbook Balance Inquiry window and the associated General Ledger cash account for the checkbook. Each reconciliation is specific to a defined checkbook.
Reconcile to GL
Reconcile bank reconciliation
· Reconcile Inventory
· Year End Close options:
› Clear balances of unit accounts during year-end close process
› Keep inactive accounts with zero balances during year-end close
› View status during the year-end close
· Currency Translation Average Exchange Rate Calculation
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· Historical Depreciation Reports – as an option for reporting on historical depreciation amounts, adding a “depreciation as of” to the report options. The depreciation on the report is then calculated as of the defined date, giving greater flexibility in depreciation reporting.
Also, to get accurate historical amounts for dates in prior years and clean up the display of reports and inquiries, this feature includes enhancements to the depreciation reset process.
› Reset History in Detail
› Restrict Displaying Reset Transactions
› Lock Fixed Assets Year
› Process Progress Bars
› Mass Depreciation Reversal – this feature provides users with the ability to back out depreciation for all, or a group, of assets. The systems currently has the functionality to reverse depreciation one asset at a time, which can be time consuming when the need arises to back our depreciation for a large number of assets.
This new functionality in Dynamics GP 2013 saves a significant amount of time for users by allowing depreciation to be backed out for large groups of assets with a single process.
Mass depreciation reversal
· Independent Fixed Assets Calendar – this feature allows users to set up multiple calendars to be used for depreciation in Fixed Assets.
In prior versions, the only option was to have FA calendar match the Fiscal Period Setup. Depreciation doesn’t always follow a fiscal year.
For example, depreciation for the corporate book may follow the fiscal year and depreciation for the tax book may need to be on a calendar year.
Users now have the option to set up multiple calendars, and assign different calendars to different books:
› Define Short/Long Calendar Years - The Fixed Assets calendar can now be defined using:
- Fiscal Period Setup - The new year will be built for the calendar based on
the entries in the Fiscal Period Setup window. The periods of the calendar are
built for the specific calendar ID.
- Calendar Year - The new year will be built for the calendar based on a
calendar year. The years and periods are built to match the Gregorian calendar
for the range entered in the Years fields. OR
- Custom Year - Using the Fixed Assets Calendar Setup window, users can now build additional years that are not set up for the calendar between the ranges entered in the Years fields. The existing calendar years will not be deleted.
Fixed asset calendar setup
· Intercompany Asset Transfer – this feature allows you to transfer an asset from one company to another. Fixed Assets will take care of all the accounting entries; retirement transaction in company a, acquisition transaction company b.
The new functionality automates the process of retiring an asset in the original company, and setting up for depreciation in the new company. The process can be completed for either a single asset or a group of assets, saving the user time on performing these processes manually.
Intercompany asset transfer
FA Intercompany transfer edit list
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· Fixed Assets Transactions Batches
› Post in Detail to General Ledger
› Analytical Accounting Integration with Fixed Assets
› Documentation Updates for MACRS
› Add BAI format support
· Encumbrance Management
› Integrate Encumbrance with GL Journal Entry
› Assign Multiple GL Budgets for Encumbrance validation
› Receipt Cost Difference Notification – when user encumbers an item in Purchase order entry, user reserves a certain amount of its budget for the item based on the item cost.
With Dynamics GP 2013 Encumbrance Management, if the receipt item cost is different than the original encumbered item cost, user will be warned that the cost are different. This will help user reduce data entry errors and control costs.
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Receiving transaction entry