Kelly Neland

Kelly Neland

Author's Posts

October Target Return: Collection Management, Field Service, and Much More

Kelly Neland

It was a crisp autumn day for the October Target Return. An intimate group gathered for a roundtable discussion about:

  • Collection Management
  • Field Service
  • Professional Service Tool Library (PSTL)
  • Web Client
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Topics: ERP, Microsoft Dynamics GP

Looking for Cash? Check Your Accounts Receivables

Kelly Neland

The idea that cash is king has been around a long time. For small to mid-sized businesses, a healthy cash flow is foundational. Sales are important to this equation of increasing the amount of cash on hand, but there may be an untapped cash reservoir in your Accounts Receivables. Due to the challenging and time-consuming nature, collection efforts are often neglected until receivables are 90 days or longer past due. Sometimes, it decided that it’s just easier to write off old receivables as uncollected. This can significantly impact your company’s cash flow and profits.

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Working Smarter Not Harder: Managing by Exception

Kelly Neland

Something that has been said of the Millennials, or previously referred to as Gen Y, is that they work smarter not harder. What does that mean exactly? Is that just a really nice way of saying they are lazy? Regardless of how you look at it, it would be nice to get the same amount of work done in less time, freeing you up to do other important tasks. Microsoft Dynamics GP has some functionality that would enable you to do this very thing.

Remember those hours you spent looking through transaction after transaction after transaction, trying to identify the customers that were past due on their payments. Or maybe you just wanted to know what receivables are due today. How long would that take you?

What if instead of searching through the lists of transactional data, the handful of transactions you are looking for could be automatically filtered out as exceptions? What if these exceptions could be on your home page when you log into GP every morning? That would save you a lot of time and money.

Well, I am here to tell you just that scenario is not only possible, but also how to do it.

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Topics: ERP, Microsoft Dynamics GP

Planning Ahead for Year End Close

Kelly Neland

Well, autumn is officially here. This is my favorite time of year – low humidity, beautiful colors, sports; what could be better? It also means there are 35 days until Halloween, 62 days until Thanksgiving, 89 shopping days until Christmas, and 96 days (65 typical working days) until the end of the year. Are you ready?

As you probably know, the objectives of year-end close are to close out business from the previous year, carry forward balances from the previous year, and open posting accounts for the upcoming year. How about this year you minimize the stress by planning ahead?

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Topics: ERP, Microsoft Dynamics GP

A Hidden Gem: Project Accounting

Kelly Neland

Probably one of the more underutilized modules in Microsoft Dynamics GP is Project Accounting. Project Accounting helps you track costs based on a project you define. Several customers use it to implement or stream-line their billing process enabling them to get invoices to their customers in a timelier manner. Due to its generic nature it can span industry and application, some examples are as follows:

  • Accounting Firms uses it to track retainers
  • Contractors track projects and/or equipment
  • Health Industries find various applications
  • Municipalities can use it to track the cost a maintenance in utility projects

To successfully utilize project accounting, it is vital to spend the time in the beginning setting up the project. Asking questions like:

  • How will we analyze cost?
  • How do we plan to bill the customer?
  • What do we want the reporting functions to look like?

Once you have answered those questions, you can start setting up the nut and bolts of your project accounting module. There are four essential components to Project Accounting.

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Topics: Microsoft Dynamics GP