Multi-Entity Management in Microsoft Dynamics GP Made Easy with Binary Stream
Does your company have a complex business structure that may require multiple legal entities with complicated reporting requirements?
Are you tired of the hassle associated with maintaining separate GP companies for each entity?
Are you frustrated with maintaining multiple vendor, customer, employee and fixed asset master records or managing consolidated reporting through differing chart of accounts?
If so, Binary Stream’s Multi-Entity Management tool for Dynamics GP may be of interest to you. This product allows multiple entities to be managed within a single Dynamics GP company by using an entity designation within your chart of accounts.
Below are some of the key benefits of the Multi-Entity Management tool:
- The ability to manage centralized or de-centralized checkbooks, customer, vendor, item master listings for all entities within a company.
- The capacity to generate entity-specific reporting such as Accounts Payable/Receivable trial balances, Vendor 1099s, Employee W2s and Accounts Payable/Payroll check formats, etc.
- The ability to manage complex intercompany transactions between entities through intercompany relationships and leveraging the automated intercompany processing feature as well as maintaining the appropriate account distributions through the automated facility segment substitution/overrides.
- Entity-level security to be managed for the users within a company to ensure access is only assigned to authorized individuals.
- Customizable configuration to support both centralized and de-centralized purchase order, goods receipt, payment, invoicing and payroll business processes.
- Automated inter-entity processing to simplify arms-length transactions where sales invoices in Entity A become payables vouchers in Entity B.
The Multi-Entity Management tool has the capacity to not only simplify the design and management of your Dynamics GP solution, but it can significantly reduce the amount of redundant processes created by managing multiple GP databases as well.
Contact FMT to learn more about Binary Stream’s Multi-Entity Management.
Ryan Pekrul, Senior GP Specialist, FMT
Posted by: Jakob Bechgaard