You, Me and Dynamics GP
I am still getting calls and emails on Revenue and Expense Deferrals in Dynamics GP more than a two weeks after I showed this in couple of presentations at Convergence 2012. Maybe deferring insurance expense was really clear example for people to follow. Anyway, I thought I would put more information up here.
- Revenue/Expense Deferrals allows you to defer revenue and expenses into the future. It’s sometimes abbreviated as RED by consultants.
- This module is included with Business Ready Licensing Advanced Management and it’s available for purchase for those still on module based licensing. It is not expensive for the pain it saves.
- The module is a separate checkbox on the install so companies may own it but not have it installed.
- Deferrals can automatically post into the future into closed periods.
- Deferral profiles can be used to simplify and provide consistency to the deferral process.
- The original transaction can be distributed to a prepaid account or to an expense account. Revenue/Expense deferrals can be configured either way.
- You defer a DISTRIBUTION LINE amount. You can defer different lines differently. You can also choose to not defer the entire amount.
- DO NOT DEFER THE AP or AR line. You won’t be happy.
- There are some small setup steps in Tools-Setup-Financial-Deferral & Deferral Profile.
I have a previous tip with revenue/expense deferral specifics from September 2010. There is a video up on YouTube. Also Microsoft has a nice, if somewhat older FAQ.
Frank Hamelly and I covered this as one of the most underused modules in GP last year but no one seemed to notice. It’s nice to see that it’s finally catching on.
