When you are focused on your business operations, you may not pay as close attention to accounts payable and accounts receivable as you used to. As hundreds or thousands of transactions pass through your business each week, you might end up with data errors, make multiple payments on an invoice, lose discounts, or make other common accounting mistakes. All of these errors can potentially impact your cash flow and put you in a cash crunch. The right software will make it easier to track accounting operations.
Microsoft Dynamics® GP is robust business management software with powerful financial management features. Improve productivity in your accounting department and accuracy of your financial data by entering and monitoring all of your data in this single software solution. Manage the general ledger, cash flow, collections, perform bank reconciliation, assets, and much more with Microsoft Dynamics GP – including accounts payable and accounts receivable.
Gain control over expenses and manage supplier or vendor payments by automating accounts payable data-entry with Microsoft Dynamics GP. You can use electronic banking to pay vendors, eliminate the need and added expense of using paper checks, and reduce the chance for errors or fraud. Paying vendors and suppliers the proper amount, and on time, will save money in late fees or other penalties. It will also strengthen important supplier relationships.
The accounts receivable features in Microsoft Dynamics GP will make it easier and more efficient to track invoices, receipts, and customer activity. Reduce the frequency of collections by working with customers up front by setting up automatic payments. Accept batch sales and automatically collect payments from customers using secure electronic banking. You can also automatically create debit memos to apply credit to customers that might require a refund.
Businesses large and small must all keep tight control over accounts payable and accounts receivable. Loosen the reins or let things slip and there could be dire consequences. Using a single software solution like Microsoft Dynamics GP will make it easier to manage accounts payable and accounts receivable, as well as improve data accuracy. Contact InerDyn for more information about using Microsoft Dynamics GP to reduce common accounts payable/accounts receivable errors.
By InterDyn – CFO Consulting, a Gold Certified Microsoft Partner out of Florida
Reduce Accounts Payable and Receivable Errors with Microsoft Dynamics GP is a post from: Accounting Software Blog
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