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Make Banking Easier with Dynamics GP

July 15, 2013 3:38 pm Published by

We all know that banking can be tedious work. Now what if you could have a system that could help you organize all those transactions? Microsoft Dynamics GP contains several modules that streamline your banking and checkbook management tasks. All of the following modules come with the Starter Pack:

  • Cashbook Bank Management
  • Electronic Bank Management
  • Electronic Banking Suite
  • Bank Reconciliation
  • Electronic Reconciliation Management

Cashbook Bank Management enables you to easily manage your banking transactions. You can attach unlimited checkbooks to your bank, make bank transfers, and import your bank statements into Dynamics GP.

Electronic Bank Management streamlines set up, data entry, and reconciliation for all transactions that appear on your bank statement, including payments to creditors, cash receipts from debtors, and bank charges.

Electronic Banking Suite enables you to integrate with your checkbooks electronically and includes the following:

  • Electronic funds transfer for receivables management
  • Electronic funds transfer for payables management
  • Electronic bank reconciliation

Bank Reconciliation enables you to create, manage, and reconcile from your checkbook ledger to the bank’s account records through a single, automated process across multiple currencies. Electronic Reconciliation Management automates electronic reconciliation and management for transactions, adjustments, and exceptions, using tools that work with any bank that supports automatic reconciliation.

If you have a lot of items to reconcile every month—several hundred, for example—you’ll want to use electronic reconciliation. It is pretty easy to set up and use. The module configures the data required by Microsoft GP with the file format from your bank. An error report is run after the bank file is read and matched in MS Dynamics GP that will help you find the differences and correct them.

Banking is just another area where Microsoft Dynamics GP can save you a lot of time on mundane tasks that simply have to be done to keep your business running smoothly.

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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