Microsoft Retail Management system integration with Microsoft Dynamics GP 2016

Microsoft Retail Management system integration with Microsoft Dynamics GP 2016

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Like any company, you have multiple business systems that function to make their various departments work optimally. While these tools may do well in their own capacities, if they are not integrated properly, you may be losing out on potential revenue enhancement opportunities. Microsoft Retail Management system integrates with Microsoft Dynamics GP 2016  giving retailers a single end to end solution ideal for managing multi-store network. Join us for the new Revolution. Microsoft Dynamics GP 2016 paves the way as an evolutionary and cutting edge ERP solution, especially in the new era of affordable, cloud-savvy technologies.

Dynamics GP takes financial reporting and elevates it to financial strategy by allowing your business to scale up or down depending upon cash flow and projected sales. You can use the software to simply track accounts receivable, but it has so many features that can easily propel your business strategic and financial planning efforts into next-level projections to guide your business. We as Impax business solutions take the pride to offer and guide you through implementation of the same through our Microsoft Dynamics GP 2016 integration with our RMS or the existing RMS.

Our solution offers the following functionalities of the key modules in the starter pack.

  • General ledger with budgeting

The General Ledger module offers flexible account structuring, intelligent transaction processing and very sophisticated custom reporting. The system allows the setting up of an unlimited number of budgets delivering the ability to generate sophisticated decision-driving reports. It also supports unlimited number of open and history years. The account structure is flexible and allows up to 66 characters long divided into maximum 10 segments. The system has a comprehensive budget facility that supports unlimited budgets. These budgets can cut across financial years.

  • Purchase Order Processing.

The raising of purchase orders is greatly improved while maintaining a seamless  integration with the Inventory Management, payables Management and General Ledger modules. The purchase orders are tracked throughout the cycle through goods receipts, invoices and payments.

  • Payables Management.

This module provides an efficient and effective way of handling supplier accounts. The module also seamlessly integrates with General Ledger and Bank reconciliation. Using the drill down and inquiry facilities within the module the status of a supplier can be quickly established and specific transactions investigated if necessary. You can enter vendor Internet and e-mail addresses and quickly link to their sites to research and order products and send important messages via email.

  • Inventory Management.

This module integrates with the General Ledger, Sales Order Processing and Purchase Order Processing modules. All issues and transfers automatically update the stock levels. The module has a detailed cost accumulation mechanism through the ‘Landed Costs’ functionality. This enables a proper stock costing and management system. The Inventory Bill of Materials function along with the Assembly Entry transaction, provides a simple method for converting components into an assembled product. The Assembly transaction also decrements the components and increments the Finished Good’ and performs the accounting entries, including variances. The basis for the Assembly Transaction Entry is the Item Bill of Materials (BOM). The BOM is like a recipe for the product – it specifies what ingredients and how much of each ingredient are necessary to make the product.

  • Sales Order Processing.

This module seamlessly integrates with the Receivables and Inventory  management modules. It enables raising of quotations, sales orders, returns, credit notes and invoices. This module also supports tracking of sales commissions as well as sales analysis by regions.

  • Accounts Receivable.

This module assists in analyzing and keeping  accurate records of all the amounts receivable from the debtors. It integrates seamlessly with the General Ledger and Bank while allowing drill-down to source transactions. The Scheduled Payments functionality will be used to track the capital advances and maintain the amortization / repayment schedule.

  • Cash Book Management.

The Cash Book Management module will greatly improve cash management and deliver seamless integration with the General Ledger, payables and  receivables management modules. The module enables you to perform bank reconciliation with ease.

  • Analytical Accounting.

This module integrates with the General Ledger and allows the system to provide further analysis without using the General Ledger account codes. For example, using analytical accounting, a firm can analyze Motor Vehicle expenses against individual vehicles, while maintaining only one account for Motor Vehicle expenses.

  • Fixed Assets.

The Fixed Assets Management module provides unrivaled asset management functionalities including multiple books, asset classes, asset categories, cost centre linkages, depreciation, serial numbers, maintenance, custodian, leases, insurance etc. Additions and disposals can also be handled in this module. The module is flexible and supports many depreciation methods as well as numerous standard and custom reporting. The module supports barcode technology and can be integrated to verification and tagging software. The module integrates with General Ledger, Payable Management and Purchase Order Processing.

In addition to the usual data fields for assets – Asset ID, Description, Class, Category, Acquisition date & cost, Custodian, Supplier, Manufacturer, Account Group, Depreciation class, Asset label etc, the system provides about 15 free fields where additional details can be maintained. Depreciation is computed automatically based on the asset classes and the resultant journals automatically posted to the General Ledger

Microsoft Dynamics GP is fully multicurrency and allows set up of unlimited currencies. One of the currencies is set up as the functional currency. The multicurrency facility supports unlimited daily, weekly, monthly etc. exchange rates to the functional currency. The system automatically calculates exchange gains or losses based on the rates prevailing on the transaction dates. The system also allows restrictions on which currencies can be used for specific accounts.

Microsoft Dynamics GP is multicompany.  An unlimited number of companies / businesses can be set up. If necessary, consolidation across companies can also be achieved through the report writer.

Dynamics GP has an open architecture and supports integration with other systems. The integration can be through data upload using a flat file (such as .txt) or directly to Microsoft SQL Server Database tables.

  • Financial Reporting Extender (FRx) / Management Reporter.

In addition to the in-built Report Writer, Dynamics GP provides another report writer called FRx/Management Reporter for sophisticated reporting off the General Ledger. This would enable complex matrix reporting using the account codes set up in the General Ledger and if necessary, date from Microsoft Excel worksheets.

  • Reports Writer.

There is an in-built Report Writer that would enable you to modify any of the hundreds of standard system reports or generate totally new ones in each of the modules. This would reduce the need to export data for external manipulation. The standard templates such as invoices, purchase orders, receipts etc can be easily personalized and such items as the company logo, addresses etc included.

  • System Security.

 The security features within Dynamics are such that access to modules and/or reports can be restricted to specific users. For example, FRx utilises row and column layout formats that can be restricted by use of passwords.

 Dynamics GP helps you ask the right questions at the right times. For example, why are sales up in one region, but down everywhere else? You’ll also be able to pinpoint where costs are going up and how they’re affecting the overall profitability of your business. Then you can take this financial and operational information and create data visualizations that communicate the exact picture of your corporate finances in eye-catching graphs and charts – so you won’t have to be an accountant to understand the big financial picture.

You’ll be able to conduct the same kinds of future-state projection exercises that your larger competitors have been running for years. Dynamics GP allows companies to calculate future goals based on historical business and market trends.

The small to mid-size business can use Dynamics GP to figure out exactly when to expand their business into new markets by the support of foreign currencies and languages, reducing the difficulties of going global.

With our expertise in the field we will deploy the same when needed as by the requirements. Do not hesitate to contact us for consultancy on the same or even system implementation.