Dynamics GP Initial Setup | Chart of Accounts, Fiscal Periods, MultiCurrency

You want to be able to use your myGPcloud solution as soon a possible, so naturally it is common to discuss what setup should be automatically propagated.  Some Dynamics GP initial setup is required to start using the system but a lot of it is the same from company to company.

It is a great idea to automatically have the basic critical setup completed (like functional and reporting currency etc, although if you need another currency be sure to choose the MC checkbox so you can select the currency you want when you get into Dynamics). You will see some defaults such as checkbook ID,  check format, basic payable and receivables setup etc. is done so that speeds up this process.

As you start using the system, go through the default settings and change them if you’d like. I’m guessing most of these settings will be ok but you should decide for your business if my assumption is correct.

Step 1

Here goes Dynamics GP initial setup. Looks like three events are in line first.

  1. Chart of accounts
  2. Fiscal periods
  3. Multicurrency

Chart of Accounts

This aspect of Dynamics GP initial setup is always a pain. Not that it’s hard to get the accounts into GP but it usually takes weeks (or months) for the meticulous CPA mind to finalize a C of A. I’m glad there’s a default chart preloaded in the system. The documentation shows how to blow that out of there if you already have a chart decided upon. I’d use Integration Manager to import your new chart.

Follow the link to learn more about Dynamics GP initial Setup.

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