Navigating the world of accounting software can feel like traversing a vast, open plain. You need a reliable tool to guide you, manage your resources, and ultimately, help your business thrive. That’s where Great Plains Accounting Software comes in. But with so many options available, why choose Great Plains? Let’s delve into the key aspects of this powerful solution and explore how it can benefit your organization.
What is Great Plains Accounting Software?
Great Plains, now known as Microsoft Dynamics GP, is a comprehensive enterprise resource planning (ERP) system designed for small to medium-sized businesses (SMBs). It offers a wide range of modules that cover various aspects of business management, including:
- Financial Management: General ledger, accounts payable, accounts receivable, bank reconciliation, and fixed asset management.
- Supply Chain Management: Inventory management, sales order processing, purchase order processing, and warehouse management.
- Manufacturing: Production planning, bill of materials, and shop floor control.
- Human Resources: Payroll, benefits administration, and human resource management.
- Business Intelligence: Reporting, analytics, and dashboards.
Dynamics GP is known for its flexibility and scalability, allowing businesses to customize the system to meet their specific needs and grow with the software over time. It can be deployed on-premises, in the cloud, or in a hybrid environment, providing businesses with the freedom to choose the deployment option that best suits their IT infrastructure and budget.
Key Benefits of Using Great Plains Accounting Software
Implementing Great Plains Accounting Software can bring numerous advantages to your business. Here are some of the most significant benefits:
- Improved Financial Visibility: Gain a clear and comprehensive view of your financial performance with real-time data and robust reporting capabilities. This allows you to make informed decisions and identify areas for improvement.
- Increased Efficiency: Automate key accounting processes, such as invoice processing, bank reconciliation, and financial reporting, freeing up your staff to focus on more strategic tasks.
- Enhanced Accuracy: Reduce the risk of errors and improve the accuracy of your financial data with automated data entry and validation rules.
- Better Compliance: Stay compliant with industry regulations and accounting standards with built-in compliance features and audit trails.
- Streamlined Operations: Integrate your accounting processes with other business functions, such as sales, inventory, and manufacturing, to streamline operations and improve overall efficiency.
- Scalability: Grow your business without outgrowing your accounting software. Dynamics GP can scale to accommodate your increasing transaction volumes and user base.
- Customization: Tailor the system to meet your specific business needs with a wide range of customization options, including custom fields, reports, and workflows.
- Integration: Integrate Dynamics GP with other Microsoft products, such as Office 365 and Power BI, to extend its functionality and improve collaboration.
Who is Great Plains Accounting Software For?
Great Plains Accounting Software is particularly well-suited for:
- Small to Medium-Sized Businesses (SMBs): Companies with complex accounting needs that require a robust and scalable ERP system.
- Businesses in Specific Industries: Dynamics GP offers industry-specific solutions for manufacturing, distribution, retail, and other industries.
- Companies Seeking Integration: Businesses that want to integrate their accounting processes with other business functions, such as sales, inventory, and manufacturing.
- Organizations Requiring Customization: Companies that need to tailor their accounting software to meet their specific business needs.
- Businesses Looking for Long-Term Solution: Companies that need a scalable and reliable accounting system that can grow with their business over time.
Key Features of Great Plains Accounting Software
Dynamics GP boasts a rich set of features designed to streamline your accounting processes and improve your financial management. Here are some of the key features:
- General Ledger: Manage your chart of accounts, journal entries, and financial statements.
- Accounts Payable: Automate invoice processing, vendor payments, and expense management.
- Accounts Receivable: Manage customer invoices, payments, and collections.
- Bank Reconciliation: Reconcile your bank statements with your accounting records.
- Fixed Asset Management: Track and depreciate your fixed assets.
- Inventory Management: Manage your inventory levels, track inventory costs, and optimize inventory turnover.
- Sales Order Processing: Manage sales orders from creation to fulfillment.
- Purchase Order Processing: Manage purchase orders from creation to receipt.
- Manufacturing: Plan and control your manufacturing processes.
- Payroll: Process payroll and manage employee benefits.
- Reporting and Analytics: Generate reports and analyze your financial data.
- Business Intelligence: Gain insights into your business performance with dashboards and key performance indicators (KPIs).
Deployment Options for Great Plains Accounting Software
Dynamics GP offers several deployment options to suit your IT infrastructure and budget:
- On-Premises: Install and run the software on your own servers. This option gives you complete control over your data and infrastructure.
- Cloud: Host the software in the cloud with a Microsoft partner or a third-party hosting provider. This option eliminates the need for you to manage your own servers.
- Hybrid: Combine on-premises and cloud deployment options. For example, you could host your database on-premises and run the application in the cloud.
The best deployment option for your business will depend on your specific needs and requirements. Consider factors such as your IT budget, technical expertise, and security requirements when making your decision.
How to Choose the Right Great Plains Partner
Selecting the right partner to implement and support your Great Plains Accounting Software is crucial for a successful implementation. Here are some factors to consider when choosing a partner:
- Experience: Choose a partner with extensive experience implementing Dynamics GP in your industry.
- Expertise: Ensure the partner has the technical expertise to customize and support the software.
- References: Ask for references from other clients and check their reviews online.
- Support: Choose a partner that offers comprehensive support services, including training, troubleshooting, and ongoing maintenance.
- Communication: Ensure the partner communicates effectively and is responsive to your needs.
- Cost: Compare the costs of different partners and choose one that offers a fair price for their services.
Great Plains Accounting Software Pricing
The pricing of Dynamics GP varies depending on the modules you need, the number of users, and the deployment option you choose. Contact a Microsoft partner for a customized quote.
Generally, you can expect to pay for:
- Software Licenses: The cost of the Dynamics GP software licenses.
- Implementation Services: The cost of implementing the software, including configuration, customization, and training.
- Support Services: The cost of ongoing support and maintenance.
- Hosting Fees (if applicable): The cost of hosting the software in the cloud.
Great Plains Accounting Software Alternatives
While Great Plains Accounting Software is a powerful solution, it’s essential to consider alternatives to ensure you’re making the best choice for your business. Some popular alternatives include:
- NetSuite: A cloud-based ERP system that offers a wide range of features, including accounting, CRM, and e-commerce.
- Sage Intacct: A cloud-based accounting software designed for growing businesses.
- Xero: A cloud-based accounting software designed for small businesses.
- QuickBooks Online: A cloud-based accounting software designed for small businesses.
- SAP Business One: An ERP system designed for small to medium-sized businesses.
Evaluate your specific needs and requirements before making a decision. Consider factors such as your budget, the size of your business, and the complexity of your accounting processes.
The Future of Great Plains Accounting Software (Dynamics GP)
While Microsoft has shifted its focus to Dynamics 365, Dynamics GP continues to be a viable option for many businesses. Microsoft has committed to supporting Dynamics GP for the foreseeable future, with regular updates and new features. However, it’s important to be aware of Microsoft’s long-term strategy and consider whether Dynamics 365 might be a better fit for your business in the future.
Many businesses are choosing to migrate from Dynamics GP to Dynamics 365 to take advantage of the cloud-based platform and its advanced features. However, Dynamics GP remains a solid choice for businesses that prefer an on-premises or hybrid deployment option.
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Implementing Great Plains Accounting Software