Proper Accounting With Microsoft Dynamics GP

That’s a quick fix!  That’s an easy fix!  Often times these words are said right before the problem at hand gets much worse.  A piece of gum in the crack of the dam might make it appear the water has stopped leaking from the outside, but that water is still working through the crack on the inside, building up pressure.  How does this apply to an Accounting ERP Software system?  Well, humans are human and everyone has made a mistake at some point: A cash receipt posted under the wrong Customer; A typo when entering the document date of the Payables Invoice; Transposing the numbers when entering the monthly depreciation journal entries. 

The fixes to these problems might seem easy enough:  just pull up the cash receipt and change the customer; call up the Payables Invoice and change the date, bring up the journal entry and change the amounts.  But who entered the original document incorrectly and who made the fix?  Why was a document’s amount changed?  What caused the transaction to be wrong in the first place?  And I’m not even an auditor – just imagine the detailed type of questions the auditors might come up with!  While some systems might allow you to change a document after it has been posted – I’m looking at you Quickbooks – that type of flexibility can only lead you down a dangerous and perilous path of potential compounding mistakes, un-answerable questions, and possibly even fraud.

With Microsoft Dynamics GP 2010, you will be assured that your accounting software is using the best practices for control and accountability.  The proper audit trails and the necessary compliance will be followed.  When the auditors ask, you will have the answers to their questions quickly and accurately.  The correction of the initial problem might not be as easy and as reckless as taking a few seconds to go into a posted transaction and changing the historical data, but the peace of mind and good night’s sleep will more than make up for the couple of minutes it will take to properly make the correction.

By Quadis Technologies – Nebraska Microsoft Dynamics GP Partner

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