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Customer/Vendor Consolidation in Microsoft Dynamics GP

September 2, 2013 1:25 pm Published by

If you find that one of your customers has become one of your vendors, or a vendor has become a customer, Microsoft Dynamics GP’s Customer/Vendor Consolidation functionality can save you time creating records and give you a consolidated or combined view of the customer/vendor relationship. This tool enables you to quickly transfer information between Receivables Management and Payables Management, creating a new vendor record that uses information already available in a customer record, and vice versa.

Customer/Vendor Consolidation in Microsoft Dynamics GP enables you to:

  • Automatically create new vendor or customer records.
  • Consolidate balances in Payables or Receivables for the same company.
  • Assign relationships between existing customers and vendors.
  • Track the consolidations.
  • Apply all open Payables/Receivables debit and credit documents against each other to consolidate current balances.

To set up Customer/Vendor Consolidation, assign a suspense account that will act as an offset account between Receivables and Payables (Administration > Setup > Company > Customer/Vendor Setup). Assign default vendor and customer classes to be mapped when a vendor or customer is automatically created. Then map the vendor and customer relationship.

If you have a transaction in Payables for $1000 for the vendor Lady Gaga, and another in Receivables for $1000 for the customer Lady Gaga, you can consolidate these using Customer/Vendor Transactions (Sales > Transactions > Customer/Vendor Transactions). When you consolidate all documents, you can see a list of all transactions for Lady Gaga that includes both Payables and Receivables.

Little increases in efficiency add up, and Customer/Vendor Consolidation is just one of many little increases in efficiency you have access to with Microsoft Dynamics GP.

About MIG & Co.

MIG & Co. is a professional consulting firm that specializes in the implementation of business management software solutions, including Microsoft Dynamics GP, SL, and CRM. We automate business processes to ensure that our customers work efficiently. MIG is a Microsoft Dynamics Gold Certified Partner.

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