Solved

Great Plains Dynamics

Posted on 2016-08-23
2
30 Views
Last Modified: 2016-10-13
Has anyone dealt with Great Plains Dynamics and the issue with the check register reconciliation? Basically, I have a client that accepts credit cards but when you balance it with a bank statement, the numbers are off because what is deposited in the bank account are deposits after cc fees taken from the bank. Thus what is in the system vs the actual statement are off. This leads to having to do a GL adjustment. Does anyone have a simple method of handling these issues?
0
Comment
Question by:niccross
2 Comments
 
LVL 18

Accepted Solution

by:
Victoria Yudin earned 500 total points
ID: 41768460
Normally, if the credit card (CC) charges are taken out of every deposit a different setup is needed in GP. Instead of setting up the CC as a Checkbook, you would set it up as a GL account. When the receipts are recorded, they would debit that GL account automatically based on the setup. When each deposit is received, you would enter a Bank Transaction Receipt for the amount actually received.

For example: CC charges of $100, fees of $4, received $96, the Bank Transaction Receipt entry is:
Debit Cash $96
Debit CC Fees $4
Credit CC Receivable $100

Hope that helps.
0

Featured Post

Optimizing Cloud Backup for Low Bandwidth

With cloud storage prices going down a growing number of SMBs start to use it for backup storage. Unfortunately, business data volume rarely fits the average Internet speed. This article provides an overview of main Internet speed challenges and reveals backup best practices.

Question has a verified solution.

If you are experiencing a similar issue, please ask a related question

Suggested Solutions

Title # Comments Views Activity
DTS Connection Failed 7 70
Trying to get a Linked Server to Oracle DB working 21 59
SSRS Enable Remote Errors 4 25
Present Absent from working date rage 11 16
The Delta outage: 650 cancelled flights, more than 1200 delayed flights, thousands of frustrated customers, tens of millions of dollars in damages – plus untold reputational damage to one of the world’s most trusted airlines. All due to a catastroph…
For both online and offline retail, the cross-channel business is the most recent pattern in the B2C trade space.
Using examples as well as descriptions, and references to Books Online, show the documentation available for date manipulation functions and by using a select few of these functions, show how date based data can be manipulated with these functions.
Using examples as well as descriptions, and references to Books Online, show the documentation available for datatypes, explain the available data types and show how data can be passed into and out of variables.

770 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question