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Tidestone Insights

The Tidestone Bank Transaction Macro Tool

 

The Great and Powerful Tidestone Bank Transaction Macro 

For all of you Microsoft Dynamics GP veterans and newbies alike, we have a revolutionary solution for you! In Microsoft Dynamics GP Bank Transaction Entry there is no out-of-the-box functionality that allows users to enter transactions in a batch. This then brings to mind the issue of not having the proper tool to create recurring entries! For many customers, using a recurring journal entry batch to post payroll is the only way to complete this task. Sure, this works, but it also requires that you use a suspense account and create a bank transaction entry as well! So, not only are you perhaps preparing the journal entry in a spreadsheet, then manually transferring the data to GP in the form of a journal entry, but then you are re-entering the transaction data as a cash transaction. This seems awfully time-consuming!

Why? In GP, if you have a transaction in GP that impacts a cash account/checkbook, you must ensure the transaction flows through the checkbook in order to take advantage of the Reconcile Bank Statement feature. Journal entries do not update the checkbook. So, if you are booking your payroll via journal entry in the general ledger, you are also making a separate entry in Bank Transaction entry to reduce cash and relieve the suspense account.  This process leaves room for omissions and entry errors, not to mention it’s incredibly tedious!

Tidestone recognizes this inefficiency and has simplified this process for you! With the Tidestone Bank Transaction Macro tool, all you have to do is either key the payroll info into an Excel template provided by us, or provide your template to us and we’ll customize the macro, and the macro does the rest of the work for you. The macro reads the file and does all of the key strokes into the Bank Transaction Entry window allowing you to review and post. Not only does this tool increase accuracy and efficiency, but it is a great time saver! Almost as easy as clicking your heels three times. Be sure to visit our website to browse what other powerful Tidestone tools that are available to you today: 

http://www.tidestonesolutions.com/how-we-help/products/ 

 

For more information about our Tidestone Tools, please caontact our Business Development Director, Kelley Sintz: 207-761-2133 x 1205 or ksintz@tidestonesolutions.com.

 

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