How to Handle a Check Voided in Error in Dynamics GP

You issue a check to a supplier and then someone erroneously voids that check.  How do you recover from this without having to contact the vendor, issue a new check, and stop payment on the old one?  Learn how here.

How to Close Purchase Orders Safely in Dynamics GP

Before manually closing Purchase Orders, remember to check the following...

Create SmartLists for Quick Navigation in Dynamics GP

As one customer put it "I Love SmartLists!".  The key feature of SmartLists is that any user can create a Favorite to get the data they need (with little training). 

You can access SmartList by choosing Microsoft Dynamics GP menu >> SmartList.  Read more about SmartLists.

Correct Journal Entries in Dynamics GP

Need to reverse and replace a journal entry?  Read this tip.

 
So the Receivables transactions have been moved to history and the customer's check bounces.  What do you do now?
 
The product is gone so entering a Return SOP transaction is not going to help.  Plus, you need to update the checkbook as well as reinstate the invoice to be paid.  This is going to take a few steps.
 
1.  Enter a reversing transaction through checkbook that will decrease the check book balance.  Post the offset to a suspense account.
 
2.  Enter a new receivable invoice, debiting AR and crediting the suspense account used above.  After posting this transaction, edit the posted transaction and change the due date to the original due date.
 
3.  Make sure to put lots of notes on the transactions referring to the original transactions.  

Next time, remember to keep paid transactions in Open Receivables for 90 days!

Want to clean up your chart of accounts? 

Dynamics GP v9.0 has a feature to allow you to automatically populate the account description based on the segments. It will help give you a consistent chart of accounts. Once you've setup your account segments and their meanings in Tools-Setup-Financial-Segment, you're ready to go.

After this, when you create a new account in Cards-Financial-Account, the description will populated based on the segments.  So if your account is 0000-1100-01 and the segment meanings are Cash - Town Bank -Operating, that's what will appear in the description.  It takes a lot of the guess work out of abbreviations.

For those with messy charts descriptions, Mass Modify (Cards-Financial-Mass Modify) will let you clean up your Segments now as well.