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Financial Enhancements in Microsoft Dynamics SL 2015

January 20, 2015 5:26 am Published by

The latest version of Microsoft’s project-focused business management solution for project-driven organizations, Microsoft Dynamics SL 2015, was released in October. There are many new features in this release, and in our last entry, we discussed the new project enhancements. Today, we’re going to take a look at the new features for financial management in Microsoft Dynamics SL 2015.

Creating and calculating vendor backup withholdings used to be a manual process, but now vendor backup withholdings can be automatically processed at the time of payment selection. Vendors are flagged for 1099 non-compliance, and any payables batches containing a non-compliant vendor can automatically create a withholding batch. And when you are making multiple payments against one vendor invoice, they can now be applied against a single voucher using the new Multi-prepayments screen.

On the receivables side, there is a new Invoice Preview. When invoices are entered and not reviewed, errors are not apparent until the invoices are printed. With the Invoice Preview, you can review each invoice prior to release individually or through a new Quick Query invoice preview screen.

A number of enhancements have been added to streamline payroll processes:

  • When a deduction amount is changed in Review/Edit Check, the process of re-calculating “subject earnings YTD” is now automated.
  • Voided checks can now be re-issued without re-running the Pay Labor Interface. You don’t need to re-enter time, as the time entry is reactivated when the original check is voided.
  • Gross up checks are supported with automatic calculation of deductions using the appropriate tax tables and applicable deduction records according to the maximum limits. This feature is available for all earning types, and overrides of deduction amounts are permitted.
  • Audit trail for payroll now tracks changes made to deductions, tax tables, employee deductions, and employee pay information. Reports display these changes along with date, time, and users who made the changes.

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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