As a company grows so does the need to track information on a more granular level to strengthen the audit trail. One way of doing so is to track transaction information at the sub-ledger level. Unfortunately, many Dynamics GP users are entering transactions directly in the general ledger while, ideally, these transactions should be tracked within their respective sub-ledgers.
Microsoft Dynamics GP provides a useful out-of-the-box interface to transfer sub-ledger transaction information up to the general ledger. The challenge is to transfer journal entry details from the general ledger back down to the sub-ledgers – especially for organizations with hundreds or thousands of general ledger entries.
Using simple integrations and configurations within GP, FMT has developed an efficient method to take standard general journal entries and integrate the transactions back into your sub-ledgers including fixed assets and other sub-ledgers. By utilizing tools such as eOne’s Smart Connect, Scribe, or FMT’s own custom integration engine, we can create views with pertinent information from the general ledger that are then integrated back into the sub-ledger seamlessly. This type of integration is extremely handy and advantageous; not only does it give you and your employees more time to focus on value-added tasks, it also allows you to efficiently create valid and precise sub-ledger entries.
Our team of experts at FMT has created a simple process to take the general ledger entries and place them into a summarized view. Through SmartList Builder in GP, we have created a custom SmartList that is continuously updated with general ledger information that needs to be integrated back into the sub-ledger. Once the additions are completed, they are removed from the SmartList, making it very simple to view and determine what still needs to be processed into the sub-ledger.
Step by Step GL to Fixed Asset Sub-Ledger Integration
By dissecting the limited fields available on a general journal entry we created the view shown below which is summarized for integration into the fixed assets sub-ledger.
By leveraging SmartConnect, a powerful integration tool, we mapped the Asset Card and the Asset Book.
Once an asset is processed through an integration engine, the Asset is viewable in GP with all pertinent information setup.
Not only was the card created but the Asset Book relationship was also set up with the appropriate information setup completed.
Additionally, User Fields were integrated. Any additional or custom information can be easily integrated and setup within the system, thus meeting any specific need.
The above example is only one of many that we are able to produce from the simple general ledger journal entries. This process proves to be a tremendous time saver for many clients while keeping integrations or manual entries into the general ledger clean and simple.
Please contact FMT for more information about GL integrations to sub-ledgers.
Blake Eaches, Senior ERP Consultants, FMT
Posted by: Jakob Bechgaard