Accounts Payable departments have long seen ACH as the best method for paying vendors. They prefer ACH because it can be secured with encryption, it's relatively fast, most every bank in the U.S. supports ACH and it is extremely cost-effective for high-volume payments compared to wire transfer or entering credit card numbers which can be costly and vulnerable to fraud. Because of these benefits ACH saw huge adoption in the last couple of years as the pandemic forced accounting leaders to digitize payments and vendors to digitize receivables. AP and AR leaders chose ACH.
“…the pandemic forced accounting leaders to digitize payments and vendors to digitize receivables. AP and AR leaders chose ACH.”
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Microsoft Dynamics GP users were among those who made about 27 billion ACH payments in 2020 (Source: ). As GP users are running ACH payments out of GP in higher volume, many are now looking for ways to automate the process.
There are a couple of routes GP users can take to automatically post ACH payments details into the General Ledger, but all of them require multiple steps for each payment. As a company's number of locations and vendors grow, all of these methods can prove to be slow, clunky and error prone. Without an integrated AP automation solution in place to process ACH payments, GP doesn’t have the out-of-the-box functionality to fully remove the busy work.
More info on posting ACH detail to the GL is available at the GPUG forum:
Taking Microsoft Dynamics GP into the Future
Since Microsoft took its business application to a cloud-first model several years ago, Dynamics GP customers and partners have been wondering how long they can expect Microsoft Dynamics GP to be supported.
Microsoft answered with the release of a roadmap last year showing GP will be supported through at least 2028 (). Now users are less concerned about GP end of life. This has caused many to look for ways to bring Microsoft Dynamics GP into the future, whether moving their instance to the cloud to enable remote work or adding solutions to expand functionality.
Odds are, you opened this article because you are trying to make payments out of GP work better. Whether you are using paper checks or ACH/EFT payments to pay your vendors, an accounts payable automation solution with flexible fulfillment options is key to modernizing Dynamics GP.
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Why Prioritize AP Automation in GP?
Microsoft Dynamics GP has enjoyed its reputation as a go-to accounting solution for SMBs for decades because it offers robust functionality and is easy to use. But accounts payable is one area where GP’s legendary usability leaves much to be desired.
“accounts payable is one area where GP’s legendary usability leaves much to be desired”
A modern AP automation and vendor payment solution really can make your life so much easier. If you are overwhelmed with invoices, losing invoices or running into constant headaches when looking up invoices, it’s definitely time to automate so you can shrink your workload and start loving Fridays like everyone else.
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