Microsoft Dynamics GP allows your nonprofit organization to manage more than just financial statements. With integrated financial management, project accounting, grant management, and encumbrance management capabilities, GP is an ERP solution that helps you better manage your nonprofit organization. GP is designed to help nonprofits adhere to regulations and controls, manage grants and budgets, and streamline the accounting process. With this solution, you can easily access reports needed to run your organization more effectively.
Dynamics GP allows you to tailor your chart of accounts to your organization’s needs. For example, customize your account segments to track locations, departments, projects, etc., for easy reporting. Users can then code transactions to specific accounts for reporting purposes while still hitting the correct Natural/Main account.
Funds and Grant Management
Fund accounting and grant management are essential in running a nonprofit organization. Dynamics GP Grant Management provides tracking for grants with multiple levels and cost-tracking structures. Grants are not restricted to a fiscal year and can span any time. Once a fund or grant has been awarded, GP allows you to set up amounts, categories, and details to assist in tracking progress. Grant management comes with multiple user-defined fields to allow for more customization with reporting. Any transaction can be applied to a grant. Grants can be validated against its budget during the transaction entry process.
Intercompany and Interfund Management
Dynamics GP includes Intercompany and Interfund Management for organizations that record transactions across multiple funds or companies. Transactions between funds can be managed using Due To/Due From accounts. In addition, Dynamics GP allows you to manage numerous companies with multiple General Ledgers by creating intercompany transactions. You can make one entry, and GP will automatically create the entries for all the other companies.
Encumbrance Management allows funds to be reserved from a budget when a purchase order is created. Creating encumbrances minimizes the risk of overspending and ensures funds will be available once payments are due. This aids budget managers with the controls and visibility of their department’s budget status. Budgets can be encumbered at the GL or Grant level. Based on the selected tracking method and the purchase order approval capability, GP will prompt you to choose how to handle the over-budget condition.
The Future of Dynamics GP
As ERP solutions are moving to the cloud, many wonder about the future of Dynamics GP. If you’re currently using GP, don’t be afraid of having to jump ship and find another solution. Microsoft has emphasized its commitment to continue to develop and support GP through 2028. When the time does come, RSM will help you find your next ERP solution to support your organization.