The primary purpose of this article is to give GP end users, highlights of the key features that GP 2013 has to offer from a user perspective. Though there are many features in the new version, I have tried to come up with the top ten features in Dynamics GP 2013 that will be helpful for the end users and help them plan their migration accordingly.
Top 10 features in Dynamics GP 2013
1. Web Access
The employees had a very complicated experience in accessing and working with Microsoft GP since GP cannot be accessed from everywhere. But since the addition of the new feature Web Access in Microsoft Dynamics GP 2013, employees can connect and contribute from wherever they are by utilizing a PC or any mobile devices with the new Web Client.
2. Inventory Reason Codes
Accountants have always had the problem of using a single inventory offset account to adjust and balance the inventory asset account, when an inventory transaction was entered. So, unless a user knew which GL account to change in the distributions, all of the transactions are posted in one account, which means that adjustments to inventory for losses are posted to the same account as inventory issued to the sales team for samples. But with the new feature in GP 2013, this issue is over.
GP 2013 allows users to assign a reason code to a transaction and also the accounting team can create a default inventory offset account for the transactions assigned with reason codes. So, the samples to customers and samples given to sales team are no more posted in the same account but in two different accounts. And after reason codes are built, the user can just assign the correct codes to the lines on the transaction and the posting will be done automatically.
With the introduction of this new feature, the Warehouse Manager will have a much better visibility as to why stock levels have been adjusted or varied which will assist in identifying trends and give insight into daily operations.
3. Document Attach
Users at some point due to too many transactions will have some difficulties in identifying a particular transaction. This difficulty is easily overcome by Document Attach feature in Microsoft dynamics GP 2013. GP 2013 now comes with a document attach feature, where you can attach relevant documents to each transaction. Users can add pictures, notes, contracts and any other informative details relating to the transaction. This helps in providing your employees, customers and suppliers, the right information at the right place.
4. Bank Reconciliation Enhancements
With the previous versions of Microsoft dynamics GP, employees faced difficulties with balancing the ledgers with ease in the absence of a tool to automatically point out the difference in general ledger and sub ledger. But in Microsoft dynamics GP 2013, Sub-ledger reconciliation tool will automatically identify the differences between your general ledger and sub-ledgers, removing time-sensitive, manual inventory and bank reconciliation processes. The reconcile tool will identify and report the matched, potentially matched and unmatched transactions records on transaction source, data and amount, with the ability to drill back to the document and/or journal entry.
5. Consolidated Invoicing
You no longer have to generate separate invoices for each of the transactions. GP 2013 comes with the new feature-Consolidated invoicing, where you can generate one consolidated invoice for a number of shipment orders made over a period of time. This will reduce the number of invoices that you generate for the customer. You can have as many internal sales transactions for a particular transaction and still generate one consolidated invoice for the customer.
6. Tolerance Handling
Microsoft Dynamics GP 2013 users now can setup a tolerance level for non inventory and inventory that are purchased through purchased order processing. Users can setup a certain tolerance level for shortage and overage of the quantity for different inventory that are about to be purchased through purchase order processing.
If the quantity of the inventory falls under the tolerance level, the purchase will be approved or if the quantity falls anywhere outside the tolerance level the purchase will be automatically cancelled on the purchase order. User can have this option setup whether to have this action perform automatically or manually.
7. Item Standard Cost Adjustment
Previously, an adjusting entry will be made to the general ledger, when the standard costing of an item was edited. In GP 2013, with the creation of a new window, users can change/edit the standard cost of an item and keep the inventory and general ledger in balance.
8. Password Protection
Unlike in previous version of Microsoft dynamics GP you now have the ability to email your word document with password protection. Due to the enabled password protection feature the recipient of the email can never edit the document unless password is entered. You can choose the password to be created automatically by the system or manually assign your own password. You can also choose not to assign password protection to your emailed word document.
9. Year End Close Options
Three major changes made a big difference in Microsoft dynamics GP 2013 with its Year End Close Option feature. First change is that during the closing process there is an option to make all the zero-balance accounts to inactive mode. In the previous version, all these zero balance accounts will be deleted automatically. Now you have an option to select and maintain all inactive accounts or just zero balance accounts with amount entered in a budget.
The second change adds the option to clear the balance of selected unit accounts during the year-end close. Previously, the unit account balances always carried forward to the next year. The Unit Account Maintenance window has a check box now which gives us an option to whether or not the balance should carry forward to the next year.
Thirdly there is now a progress bar for the closing process. The process can take a while, and often users assume the process has locked up, and will shut down the program. This visual indicator shows users the progress for the process.
10. Business Analyzer
You and your team will be able to quickly track key performance indicators, anticipate opportunities, delegate tasks, or take informed action by being equipped with the Business Analyzer dashboard much faster than in previous versions of Microsoft dynamics GP. The Business Analyzer will deliver role-specific data across your business so that employees can acquire the relevant information, collaborate with others, and take quick decisions from their Microsoft Dynamics GP 2013 home page.
I hope this article would have given you a fair idea on what’s new in Dynamics GP 2013.The top 10 features in Dynamics GP 2013 mentioned above are the ones which I believe could really add more value to your business when you upgrade to the new version.