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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Financial program with...
Microsoft Dynamics GP (Archived)

Financial program without financial statements

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Posted on by ISL 150

I'm not sure if anyone else is as unhappy as I am with GP10, but I thought I would list some of my problems with the program as I haven't found anywhere else to provide customer feedback.

1) Why would an accounting program not have standard financial statements?! I've been told that on creating a new company standard financial statements are not created and it needs to be either created from scratch or copied from another company. The partner that assisted us with the implementation helped us customize our own financial statements using FRX, but I just think we should have standard financial statements to compare with the customized reports. After all, this is the purpose of the software, is it not?

2) Why don't the general ledger reports have running balances?! The whole idea behind general ledger accounts is to know the balance at any point in time. The standard report does not have this and presumably I must either customize again or manually add-in running balances in excel.

3) When a cash receipt is mis-applied to a sales invoice, how is it corrected? This is a common accounting error, so why is correcting it so cumbersome in MS Dynamics GP10?

4) Why is the AR trial balance (aged receivable report) so messy when exported to excel? It is almost unusable. Isn't 'integration' with microsoft office supposed to be the strength of the software?

I could go on and on, but basically I think that this is a pretty bad program. Would like someone to see if value can be provided instead of users just being charged for everything which needs to be customized to bring the program to an acceptable level.

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  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    Re: Financial program without financial statements

     Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money..

    ===========================

    Ema

    Debt Help

  • Victoria Yudin Profile Picture
    Victoria Yudin 22,766 on at
    Re: Re: Financial program without financial statements

    FRx 6.7 with SP 11 (released November 2009) is compatible and supported with Window 7.

  • ISL Profile Picture
    ISL 150 on at
    Re: Financial program without financial statements

    Just an update on this - as mentioned, we use FRX 6.7 to generate financial statements. I just bought a new computer with windows 7 and the consulting firm that assisted with the installation of GP10 says that FRX 6.7 cannot run on windows 7 (so we need a remote connection to access it from another computer with a different operating system!)

    So frustrated with this software! Two microsoft products not compatible with each other!

  • CA Profile Picture
    CA 5 on at
    Re: Re: Re: Financial program without financial statements
    The reports the GP10 booklet promised are indeed there and we were able to use them successfully until we had our SQL reporter configured.  Instructions are in the General Ledger manual under Financial Statement Reports – Quick Financial statements.  It will use the account categories from GL to do these statements.  (Note: BS uses the P&L as a source, so setup the P&L first).
  • ISL Profile Picture
    ISL 150 on at
    Re: Re: Financial program without financial statements

    Hey Angelia, happy that you agree.

    To be fair, the partner we worked with helped us activate the link from the 'Reports' menu to go to FRX. But it's still not what the GP10 booklet promised:

    “Some basic financial statements—a Balance Sheet, a Profit and Loss Statement, aStatement of Retained Earnings, and a Statement of Cash Flows—are included withyour accounting program and are displayed in the Quick Financial Setup window.You can use Advanced Financial Analysis to customize financial statements, or tocreate and customize reports.”
     
    “Advanced Financial Analysis is a basic reporting tool that you can use to create andmodify financial statements. It is included when you purchase MicrosoftDynamics GP, so it’s economical to use if you don’t have extensive reportingneeds.The four standard financial statements created in Microsoft Dynamics GP—BalanceSheet, Profit and Loss Statement, Statement of Retained Earnings, and Statement ofCash Flows—can be modified using Advanced Financial Analysis. You also cancreate your own custom reports.”

     

  • Angelia Profile Picture
    Angelia 20 on at
    Re: Financial program without financial statements

    Thank you!!!!!  I agree with you 100%.  Since I started using GP not having running balances has been my number one complaint about the software.  My second complaint is that I have to go to an entirely different program to run financials.  This is completely ridiculous and inefficient.  I can go out and buy a $100 program like QuickBooks that automatically generates reports with running balances, and will let me run finanical statements with two clicks of the mouse. 

    What is the solution?!

  • Richard Schultz Profile Picture
    Richard Schultz 1,085 on at
    Re: Financial program without financial statements

    It's good to remember that Great Plains (and, to be frank, every other financial application out there) is really designed for data entry, not data extraction.  I think you'd be hard-pressed to find a solution that is easy to implement, use & report on.  I've implemented GP and also Lawson; if you thought a GP financial statement was tough to build, just try building one in Lawson! 

    That said, I had the same problems you're having back with GP 7.5 (and back to 5.5 before it).  I need to confess - I've gone & built something affordable that I think users like you might find compelling.  I don't want to be seen as "selling" on this site, so that's all I'll say; if you'd like more info, please email me at rschultz<at>100wattsolutions<dot>com. (I used words to show the @ & . to avoid getting spam).

    If you're interested in building your own reports, I'd be happy to provide some guidance & pointers along the way (no charge!).  Best of luck!

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