Still Using Excel for Currency Consolidations and Financial Reports?

At a hedge fund event here in NYC last week, we spoke to a CPA and found that she is still doing financial reporting and currency tracking in Excel.  While this isn’t currently illegal, it is frowned upon by auditors.  With the globalization of the world’s economy, many companies are venturing into international markets, which may be great for your business but can be extremely challenging for your finance department. They have to worry about foreign currency markets, deciding on daily versus monthly exchange rates, selecting a reliable source for exchange rates, figuring out which GL accounts should revalue, which shouldn’t revalue, etc. This can make it tough to perform monthly consolidations, much less ensure their 100% accuracy.

Dynamics GP | Microsoft Management ReporterMost companies start by doing all their foreign currency translation calculations offline in Excel. Some look up the exchange rates manually, figure out what the monthly average rate should be for their P&L, then calculate the CTA adjustment. The problem here is that now you have financial data outside your financial system.  Actually, there are other problems with using Excel for financial reporting:

  • Spreadsheets are desktop-based and individual-centric;
  • Manual data entry, and the fact that the formulas used for calculations are set-up by the spreadsheet author, can lead to deliberate or accidental data manipulation;
  • Excel has no auditing controls for SOX or Basel II regulatory compliance;
  • Excel has no easy way to drill down to underlying data; and
  • There is no mechanism for scheduling refreshes or automating actions based on a triggering condition.

Microsoft Management Reporter works in conjunction with the currency enhancements in Microsoft Dynamics® GP, giving you the ability to create financial statements in a specific reporting currency.  With Management Reporter, you can create boardroom-quality reports without IT assistance, get updated instance documents by simply changing a date, and take advantage of secure report distribution and storage through the centralized Report Library.

Management Reporter integrates with the general ledger (GL) in your Microsoft Dynamics GP or any Dynamics ERP solution, so there is no need to create a custom connection to your primary data source. Gain native support for 64-bit operating systems and enhanced globalization capabilities; easily scale data volume and number of users with the robust back-end architecture of Microsoft SQL Server; and realize support for multiple languages and language characters.

If you think you may be among the many businesses that need help navigate the new global economy, contact us.   We are experts in the implementation of Microsoft Dynamics GP, and because it comes with all the modules you’ll need to, it is the obvious choice for your financial reporting and broader business management needs.

 

A Business Solution from Microsoft—Helps You Work Better, Faster, and Smarter

Here are the “Top Reasons to Purchase a Business Solution from Microsoft”.  Last week, we kicked off the release of GP 2013  and the new look and feel of how complete Microsoft business solutions go beyond what stand-alone ERP or accounting software can do. Just a reminder, over the next month we will be providing an overview of why Microsoft Dynamics is a great choice to help you gain greater insight into your business. Organizations can now see how GP 2013 , can provide people with new options for analyzing information in formats built on Microsoft SQL Server.

Top Reasons to Purchase a Business Solution from Microsoft:
·    It’s More Than Just ERP
·    Helps You Work Better, Faster, and Smarter
·    Looks Forward, Not Backward
·    Gets You Up and Running in Days, Not Weeks
·    Works the Way You Do
·    Transforms the Way You Work and Connect
·    Drives and Supports Your Business Growth
·    Provides a Flexible Deployment Model
·    Reduces Your Risk and Propels Your Business

Help You Work Better, Faster, and Smarter
When you think about the most successful businesses today, you’ll realize they all have something in common: passionate employees who are engaged, committed to their company’s success, and working at their maximum potential.

Microsoft Dynamics is an innovative, flexible, end-to-end solution that helps makes your people more proactive and productive by giving them personalized, agile tools based on the familiar, interoperable Microsoft technologies that they work with every day.

The solution also features a RoleTailored user interface, designed to help your employees uncover the information and tasks relevant to their specific job functions, right on their home page. This interface maps tasks to key roles in your business, so your employees can take advantage of a tool that matches their preferences and work styles. As a result, they can work smarter, faster, and more efficiently than ever.

Microsoft Dynamics has established a track record by meeting the needs of more than 350,000 customers and 5 million users worldwide. We’ve been serving small and midsize businesses, winning customer references across many industries including finance , healthcare, public sector, services, and more. In addition, users work  all over the world and can decide on deployment in the Cloud or on Premise. Accountnet, as a Gold Certified Partner gives you access to deep technical and industry expertise to help you address your specific needs.

Take the Next Steps to Learn More
Visit us at our www.accountnet.com to learn more about Microsoft Dynamics ERP for small and midsize businesses, chat with a representative, take a product tour or come to Microsoft in Midtown on January 31, 2013.  Call 212.244-9009. Best wishes in 2013.

How to Buy a Business Solution from Microsoft for Your Organization

Customers do not purchase Microsoft Dynamics business solutions directly from Microsoft. Rather, they purchase from a world-class network of partners who provide planning, implementation, customization, support and services.

Costs typically depend on:
Product capabilities you choose to deploy. Microsoft Dynamics GP is available under the Business Ready Licensing program, which allows you to choose from two levels of functionality:
Microsoft Dynamics Business Essentials provides core financial management.
Microsoft Dynamics Advanced Management offers more advanced functionality. You can also purchase additional add-on components.
Number and specific roles of people who will use the solution. You have options for full access to all functionality or for limited access, depending on a user’s role.
Service and training that you require on an ongoing basis.
Software deployment method, for example, on-premises or hosted deployment.

Get up and running fast with SL
Moving to a new business management system might seem overwhelming, but Microsoft Dynamics SL simplifies the process with a solution that is designed to get you up and running quickly—without expensive development or increased manpower.
Microsoft Dynamics GP is highly scalable and compatible with the technology you already use so that it delivers long-term value without high costs down the road.
Microsoft’s commitment to innovation means you are investing in a business platform that will always keep you on the forefront of what’s ahead.

Service plans
You can maximize the value of your investment in Microsoft Dynamics with a service plan. It allows you to upgrade to newer versions of the applications whenever they become available, as well as receive updates and tax and regulatory releases. You can have access to comprehensive online support and services, assisted support, unlimited online training, technical documentation, and much more.

Learn more about services and support plans for a Business solution from Microsoft
Contact Accountnet, in Metro New York, for a free ERP assessment to review and to help plan for 2013. Assessments are first come first serve. For more information or to attend an event near your office contact Accountnet, your Microsoft Gold Certified Partner www.accountnet.com Our temporary number is (917) 463-4850, since the main lines have not yet restored.

How Microsoft Dynamics can meet the needs of your industry

Are you outgrowing your current accounting solution or struggling with legacy systems that make it difficult to seize new opportunities?  Microsoft Dynamics GP offers a line of business solutions for small and midsize organizations that provide you with greater control over and visibility into your entire organization.

Simple to learn and use, Microsoft Dynamics ERP business solutions work with the technology systems you already have and deliver long-term value without a complex and costly implementation.

Gain visibility and insight into how your organization is performing – and know that your system will help drive the decision-making processes, enabling your people to be more proactive and productive.

Get up and running fast
Moving to a new business management system might seem overwhelming, but Microsoft Dynamics GP simplifies the process with a solution that is designed to get you up and running quickly – without expensive development or increased manpower.

Deploy on-premises or with a-hosted cloud solutions that require low upfront investment.

Microsoft Dynamics GP is highly scalable and compatible with the technology you already use so that it delivers long-term value without high costs down the road.  Microsoft’s commitment to innovation means you are investing in a business platform that will always keep you on the forefront of what’s ahead.

  • Go beyond basic accounting with improved financials and operations.
  • Deploy out-of-the-box functionality, without costly set-up costs.
  • Feel confident with less impact to your payroll and IT budgets.
  • Meet specific vertical industry needs with an Industry award partner.

Microsoft Dynamics GP delivers a long-term return on investment through consistent product releases and rich integration with Microsoft technology innovations.  You can run your business knowing that you’re backed by a Microsoft commitment to a 10-year support life cycle for each major release, as well as a rich Business Ready Enhancement Plan that includes unlimited online training, access to self-service support, and more.

For more information or to attend an event near your office contact Accountnet, your Microsoft Gold Certified Partner.  www.accountnet.com.

Contact Accountnet to join our Product Show on September 20th at the Microsoft NYC Customer Briefing Center.

http://www.accountnet.com/event-registration

212.Dynamics or 212-244-9009

How to rely on Microsoft Dynamics within your organization

Microsoft Dynamics GP is a comprehensive ERP solution that goes beyond basic business management and reporting to help your people – and your organization – work at peak performance.  Designed for rapid implementation and ease of use, Microsoft Dynamics GP gives all your people fast, familiar ways to access and work with business information and processes, and it delivers ongoing innovation that can work for you now and into the future.

Give people a solution they’ll want to use
Success starts when people actually take full advantage of your business systems.  Designated to work like and with Microsoft Office Word, Microsoft Office Excel, and Microsoft Office Outlook, Microsoft Dynamics GP helps reduce training time and costs.  People can focus on their responsibilities, rather than on chasing information and juggling applications, with Role Tailored home pages and graphical dashboards that deliver personalized access to information.  And they’ll keep critical tasks on track and ensure consistent processes with automated notifications and alerts.

Beyond basic reporting
Today’s organization’s simply expect real-time access to decision-driving information and reports.  With Microsoft Dynamics GP, you can go well beyond basic reporting and use familiar tools and formats to make decisions that can take your business further, faster.  Transform sales strategies with advanced analytics such as predictive modeling and shopping basket analysis.  Stay current with refreshable Office Excel reports that include multiple data sources.  Turn unwieldy volumes of data into relevant information that can be shared across your organization through SQL Server Analysis Services.  And that’s just a glimpse.

Extend insight across your entire organization
No two businesses are alike – and industry specific needs vary widely.  With Microsoft Dynamics GP, you can quickly add new capabilities using built-in personalization tools:  Create specialized views and new windows, automate tasks specific to your business, and even build light applications.

Open the flow of information to people – you won’t need a full user license or need to log on to Microsoft Dynamics GP.  And now Accountnet is more than your best choice, too.  As a Gold certified partner, we give you the customized software and the personalized service you deserve.

Contact Accountnet to join our Product Show on September 20th at the Microsoft NYC Customer Briefing Center.  Get the software your organization deserves.

http://www.accountnet.com/event-registration

212.Dynamics or 212-244-9009

Dynamic Business: From Aspiration to Reality

Dynamic Businesses are connected, forward-looking organizations that thrive by empowering their people to reach their full potential.

Microsoft is helping to redefine how business solutions empower people for greater success, predict potential issues and opportunities, and enable organizations to expand the possibilities for competitive advantage.

At the heart of every organization are the people who make things happen.  People garner insight from business applications to drive decisions that advance the organization.  people manage relationships internally and externally to drive relevant actions forward.

The most successful businesses are powered by individuals who are contributing fully, able to make a difference, and committed to their company’s success.  Microsoft can help individuals – and organizations – realize their full potential and drive significant impact by offering an end to end business solution that is flexible and easy to use.

Gain key insights for decision making
Measure your success with key performance indicators (KPIs).  Gain business insight with flexible dashboards and inline data visualization.  Follow key objectives with comprehensive goal-tracking capabilities.  Track key campaign indicators with built-in reports.  Identify trends and allocate resources with powerful predictive analytics.  Use robust data cubes for trending analysis.

Connected Organizations – Better Informed People Make Better Decisions
Modern business solutions not only connect people inside and outside the organization, they also give them context and insight which drives better decisions and boosts productivity.

An important part of Microsoft’s mission is to drive connections with people, with customers and with business partners across processes, data and the ecosystem in which organizations operate.  This commitment to connected organizations includes our vision of anywhere, in-context, at the right time, through the right communications channel.

Automate workflows
Boost productivity with personal, team, or organizational workflows.  Dynamically assign tasks to the most appropriate resource using configurable rules.  Accelerate approvals using predefined workflows.  Automate follow up with predefined triggers.  Set alerts and reminders for daily milestones.

www.accountnet.com

How Microsoft Dynamics GP can enable better reporting

Microsoft Dynamics GP is a comprehensive ERP solution that goes beyond basic business management and reporting to help your people – and your organization – work at peak performance.  Designed for rapid implementation and ease of use, Microsoft Dynamics GP give all your people fast, familiar ways to access and work with business information and processes, and it delivers ongoing innovation that can work for you now and into the future.

Meet unique needs from the start
Name your business process, and we can help you manage it.  Microsoft Dynamics GP offers proven capabilities that automate and connect the full range of financial management.  Out of the box, you can adapt functionality to meet unique needs, backed by industry specific expertise and support from a worldwide, local ecosystem of Microsoft Gold Certified Partners, like Accountnet, Inc.

Give people a solution they’ll want to use
Success starts when people actually take full advantage of your business systems.  Designed to work like and with Microsoft Office Word, Microsoft Office Excel, and Microsoft Office Outlook, Microsoft Dynamics GP helps reduce training time and costs.  People can focus on their responsibilities, rather than on chasing information and juggling applications, with Role Tailored home pages and graphical dashboards that deliver personalized access to information.  And they’ll keep critical tasks on track and ensure consistent processes with automated notifications and alerts.

Tailor your solution to work the way your business does-without complicated IT efforts
No two businesses are alike – and industry specific needs vary widely.  With Microsoft Dynamics GP, you can quickly add new capabilities using built-in personalization tools:  Create specialized views and new windows, automate tasks specific to your business, and even build light applications.  Using Web services and the Microsoft .NET Framework, you can integrate with many data sources and applications, even if they’re built on non-Microsoft platforms.  You’ll also find custom development is easier and more cost-effective with familiar Microsoft technologies and industry standards such as XML.

“The dashboard reporting in Microsoft Dynamics GP 2010 will be very helpful for our management team.  They rely on live and accurate management information at any particular time…One of the mantras we have here in management is…if you don’t know it, you can’t manage it.” – David Thompson, Central YMCA London Corporate Services Director.

Make it easier to access critical information
Stay connected, speed planning, and fuel performance with role-based dashboards and KPIs that include gauges, charts, and graphs relevant to people’s roles.  Stay current-but keep it simple-with more than 220 out-of-the-box Office Excel reports that can be instantly refreshed.  View and analyze data from a summary pulse down to a specific source record, with drill-back views into Microsoft Dynamics GP from Office Excel, Microsoft SharePoint Foundation, Microsoft SharePoint Server, and Microsoft SQL Server Reporting Services.

Contact Accountnet, Inc. to make it easier to process data.