Extend the Reach of Your Microsoft Dynamics GP System
1) SafePay or Positive Pay
SafePay works with your bank’s Positive Pay program to prevent fraudulent checks and EFT transactions from clearing your accounts. This feature is especially useful for businesses that are at risk of fraudulent activities or for those that need to ensure a high level of security for their payments.
Microsoft Dynamics GP can save you both time and effort from one day to another by doing all of this automatically for you!
2) Electronic Funds Transfer (EFT) for your Payables
With EFT for Payables, you can set up your vendors for electronic payments and easily send payments to them without the need for paper checks. This feature allows you to pay your bills using the bank account information that you've already entered the system.
Two of the greatest benefits of using EFT are:
- Quicker payment processing time, since payments are made electronically by transferring funds from one bank account to another.
- Reduced costs associated with mailings and checks, which can be expensive if they're lost in transit or damaged in shipment.
The next time you need to pay someone, consider sending an EFT payment instead of a check. It's fast, efficient, and convenient.
3) Automatic Reconciliation with Bank Files
Automatic reconciliation is an option that allows you to import bank transactions directly into Microsoft Dynamics GP without having your accountant manually enter them and identify discrepancies. This saves time and reduces errors caused by manual data entry mistakes (such as transposing numbers or missing checks). This module is easy to implement as there is a US standard for the file type called BAI that all banks need to comply with for sending a Reconciliation file.
If you're using Microsoft Dynamics GP for the first time, then this may be all you need to do. If you're already using GP but want to switch from manual reconciliation (or if your bank doesn't offer automatic reconciliation), then give Dynavistics a call so we can help.
4) Workflow with Microsoft Dynamics GP Web Services
Workflow is a system installed with Microsoft Dynamics GP. It provides functionality you can use to create individual workflows or approval processes, such as the approval process for a document, master record, or batch. A workflow defines how a document, master record, or batch "flows" through the system by showing who must approve it and the required conditions for that approval.
The benefits of using Workflow include:
- Consistent processes
The Workflow system enables you to define the approval process for specific documents, such as purchase order documents and Receivables Management batches. By using the Workflow system, you ensure that documents, master records, and batches are reviewed and approved in a consistent and efficient manner.
- Automatic notification
Users can be automatically notified when a document, master record, or batch is assigned to them for approval, or when a document, master record, or batch they submitted is approved. Users can be notified via desktop alerts or e-mail alerts.
Give Dynavistics a call and let us know how we can help you use all the GP features you already own.
- Benefits of Using Microsoft Dynamics GP SafePay
- Benefits of Using Microsoft Dynamics GP Electronic Bank Reconciliation
- Benefits of Using Microsoft Dynamics GP Workflow
Dynavistics is here for you
Do not worry, you have Microsoft and Dynavistics Support for years to come. You can plan what is right for your firm and select the timeframe that works for you. Dynavistics is happy to provide full and accurate information so you can make the right choice at the right time for your firm. If you have any questions or want to discuss your future ERP plans or want help with ERP planning, feel free to contact me at firstname.lastname@example.org.
If you have any questions about Dynamics GP or BC, NetSuite, Acumatica, or general questions about how we can help you, contact Dynavistics today!