Computerized Accounting Using Microsoft Dynamics

Microsoft Dynamics is a line of business software owned and developed by Microsoft. This line of software has been developed for providing business solutions, and has been chiefly categorized into Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Retail Management, and Office Integration. One of the important part of any business solution is accounting. Microsoft Dynamics software has changed the way accounting was done by computerizing it and hence making it easy to use and more manageable. Microsoft Dynamics GP is the software that has been designed to implement computerized accounting.

Microsoft Dynamics GP software (Microsoft Dynamics software line) provides a thick bundle of features providing financial accounting and business management solution that allows one to use this familiar, powerful tool to operate and manage the accounting process with ease and perfection. Experts say that using a right accounting software, a business unit can improve their decision making by over 90%. Microsoft Dynamics software proves this with the excellent performance it gives by converting all of the data in the system into actionable information, made readily available and easily accessible to the entire workforce.

Microsoft Dynamics accounting software work in conjugation with the Microsoft Office system to help the users optimize productivity by providing access and analysis of information in a much better way. The software combines strong business management capabilities with technologies and application softwares like Microsoft Office system productivity, analysis, and communications applications, including Office Excel, Office Word, Office Outlook, and Office PowerPoint, Office SharePoint Server 2007 that powerful collaboration, workflow, and document management that reaches across internal teams, departments and also to customers, suppliers, and partners.

Microsoft Dynamics has increased the efficiency of the accounting tasks. The users now have the capability to close period-ending reports much faster than they could do it otherwise. Computerized accounting using Microsoft Dynamics GP 10.0, the latest version of the software, allows the user gain full audit control for the implementing unit so that the financial professionals can reduce transaction entry steps and increase accuracy. The embedded eBanking and eExpense modules in Microsoft Dynamics GP allow the user to move the routine accounting tasks online, thereby providing a more flexible paperless system.

The whole point of an accounting system is financial reporting. Microsoft Dynamics software strengthens the financial reporting process by offering the capability of more than 750 standard reports that make the process smoother for the user. The inclusion of the new and advanced tool called Management Reporter in the newer version of Microsoft Dynamics GP software has further strengthened the accounting capabilities of the software.

Peachtree is a accounting program used by various business units. But it differs a lot when compared with Microsoft Dynamics GP, which provides 1,372 more features than Peachtree's strongest product – Peachtree Quantum. Peachtree does not support multiple warehouse locations, allocation formulas, intercompany accounts, piece rates, item pictures, demand forecasting, and shelf life tracking etc that are offered by Microsoft Dynamics software. Also, the database offered by Microsoft Dynamics is much more robust and performs well even after millions of transactions as compared to one by Peachtree. When it comes to financial reporting, Peachtree offers only 143 standard reports compared to the 700+ by Microsoft Dynamics GP. Peachtree also lacks the import, export and linking to office tools such as Microsoft Excel, while these features are available in Microsoft Dynamics software. The loaded features of the software indeed makes computerized accounting using Microsoft Dynamics a whole new experience!