International implementations with Dynamics GP 2010

With the upcoming release of Dynamics GP 2010, scheduled for May 1, 2010, Microsoft has added many new features designed to allow Dynamics GP 2010 to be used by international / multinational companies.  Among the new features are:

General Ledger Reporting Ledgers - this feature allows for the creation of multiple “reporting ledgers” as part of the normal General Ledger / Chart of Accounts.  Three ledgers can be created:  Base, Local, and IFRS.  All transactions originating form the various sub-ledgers (Accounts Payable, Sales Order Processing, Project Accounting, etc.) are automatically posted to the “Base” reporting ledger.  General Ledger journal entries, however, can be posted to one or more of the Reporting Ledgers, allowing for differing treatment for reporting purposes.  For example, the Base ledger may show a transaction as resulting in an expense, while in the “local” reporting ledger, this expense is re-classed as a capital item.  During the printing of financial statements and trial balances, simply indicate if youwant to report against the Base ledger, or the local or IFRS ledgers.

Management Reporter – Microsoft is releasing Management Reporter 2.0 along with GP 2010.  MR now includes support for XBRL reporting (eXtensible Business Reporting Language) to make the process of creating and filing financial statements in XBRL formats an “out of the box” feature.

For more on GP 2010, please see our “Feature of the Day” page.

Tags: Dynamics GP 11, Dynamics GP 2010, IFRS, International reporting, XBRL

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