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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Is there an equivelent...
Microsoft Dynamics GP (Archived)

Is there an equivelent to Quickbooks Classes in MS Dynamics GP?

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Posted on by Rene Rivers 35

In my positions at previous organizations I have used Quickbooks almost exclusively. In those organizations QuickBooks was setup so that instead of having multiple income accounts, you had one income account and classes were used to segregate information. 

I am now in a position at a company that uses MS Dynamics GP. The company has multiple locations and the way they are managing the financial data is by having each location have it's own company file. This becomes cumbersome when one company has to have financial data that interacts with another company file. Currently to accomplish this, they have an inter company account they use. At the end of each month there is a manual reconciliation of the inter company account.

Is there any feature in MS Dynamics GP that would be similar to classes in Quickbooks?  How do companies that have multiple locations usually handle their financial accounting in MS Dynamics GP?

 Rene Rivers
San Francisco CA

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I have the same question (0)
  • Crystal Henson Profile Picture
    Crystal Henson 5 on at

    Hi Rene-

    John Hoyt, Solutions Consultant at TMC, recent wrote a great blog post on classes in Dynamics GP. It may answer a few questions you have on the topic.

     Find the link here: http://www.erpsoftwareblog.com/2010/02/with-dynamics-gp-classes-matter/

  • Community Member Profile Picture
    Community Member on at

    Hello Rene,

    With the financial reporting tools available for Dynamics GP (Mangement Reporter with GP 2010, and FRx with all versions of GP), you can create financial statements that pull data from all of your GP companies.  Many GP customers, managing multiple GP companies, create all of their consolidated financial reports suing these tools.

    You also have some options in how you set up your intercompany Due To / Due From accounts, and you should be able to set them up so that little if any manual reconciliation is required at period end.

    Have you looked into the eLearning courses available on CUstomerSource?  You will be able to find precise tutorials in how to set up your intercompany accounts and how to use the financial reporting tools to create consolidated reports.

     

    John Hoyt

    Solutions Consultant, TMC

  • Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,625 Super User 2025 Season 2 on at

    I have clients that use one of the chart of accounts segments to differentiate between companies in one database.  We're also in the process of implementing Binary Stream's Multi-Facility Processing solution at another client that essentially creates the 'classes' you're referring to by using an account segment.

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