The Top Features of Microsoft Great Plains for Accounting Departments

Microsoft Great Plains is a robust enterprise resource planning (ERP) software widely used by accounting departments to manage financial data. In this article, we will explore the top features of Microsoft Great Plains for accounting departments.

1. General Ledger Microsoft Great Plains’ General Ledger (GL) module is the software’s financial management capabilities foundation. It provides a centralized location for storing financial data, allowing accounting departments to manage and track financial transactions easily.
2. Accounts Payable The Accounts Payable (AP) module in Microsoft Great Plains allows accounting departments to manage vendor invoices and payments. It streamlines the payment process, making it easy to track and pay bills on time.
3. The Accounts Receivable (AR) module in Microsoft Great Plains enables accounting departments to manage customer invoices and payments. It provides tools to track outstanding invoices, send reminders, and generate reports on accounts receivable.
4. The Microsoft Great Plains’ Bank Reconciliation module enables accounting departments to reconcile bank statements quickly and easily. It can automatically match transactions, reducing the time required to reconcile accounts.
5. Fixed Assets The Fixed Assets module in Microsoft Great Plains provides a comprehensive solution for managing fixed assets. It allows accounting departments to track asset depreciation, calculate tax implications, and generate reports.
6. Payroll Microsoft Great Plains’ Payroll module provides a complete solution for managing payroll. It enables accounting departments to calculate payroll taxes, track employee time, and generate paychecks.
7. Project Accounting The Project Accounting module in Microsoft Great Plains allows accounting departments to track and manage project costs. It provides tools to manage budgets, track expenses, and generate reports on project profitability.
8. Multi-Currency Management Microsoft Great Plains’ Multi-Currency Management module enables accounting departments to manage transactions in multiple currencies. It can automatically convert transactions, track exchange rates, and generate currency gains and losses reports.

In conclusion, Microsoft Great Plains offers a comprehensive suite of features for accounting departments. From General Ledger and Accounts Payable to Payroll and Multi-Currency Management, the software provides a powerful toolset for managing financial data. Using Microsoft Great Plains, accounting departments can streamline operations, reduce errors, and gain insights into financial data.