Tips on how to have a more accurate audit when using Dynamics GP ERP!

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Laura Murphy - ACE Micro

What tools are available in Dynamics GP to assist with an internal audit!

Dynamics GP (Great Plains) is a comprehensive enterprise resource planning (ERP) software solution that provides numerous tools to assist with internal audit activities.

Here are some of the tools available in Dynamics GP that can be used for internal audit:

  • Audit Trails: Dynamics GP provides an audit trail functionality that tracks all changes made to the system. This feature helps to identify who made changes, when they were made, and what was changed. This functionality can be useful for detecting unauthorized changes, errors, or fraud.
  • Activity Tracking: This feature is included with the Audit Trails functionality in Dynamics GP.  It allows companies to set very granular parameters for recording login/logout activity, users opening windows and running reports, as well as adding, deleting, or modifying master records and transactions.  When used, this feature takes Audit Trails to a much higher level.
  • Security Setup: Dynamics GP offers a robust security setup feature that allows administrators to define user roles and permissions. This feature helps to ensure that users have access only to the information and functionality that is necessary for their job duties. By limiting access, it reduces the risk of errors, unauthorized access, and fraud.
  • Reporting: Dynamics GP offers numerous built-in reports, including financial statements, inventory reports, and sales reports. These reports can be used to analyze and validate financial data, identify trends and patterns, and detect anomalies.
  • SmartLists: Dynamics GP includes a SmartLists feature that allows users to create custom queries to extract data from the system. This feature can be useful for analyzing data, identifying patterns, and detecting anomalies.
  • Workflow: Dynamics GP includes a workflow functionality that allows organizations to automate processes and approvals. This feature can help to streamline processes, reduce errors, and increase efficiency.
  • Compliance Management: Dynamics GP includes a compliance management feature that helps organizations to comply with regulatory requirements such as Sarbanes-Oxley (SOX). This feature provides tools to manage risk, document controls, and perform internal audits.
  • Third-Party Add-Ons: There are also many third-party add-ons available for Dynamics GP that can provide additional functionality for internal audit. For example, there are add-ons that can help with fraud detection, data analysis, and compliance management.

Overall, Dynamics GP provides many tools that can assist with internal audit activities, and it is important for organizations to leverage these tools to ensure the integrity and accuracy of their financial data.

About ACE Micro

ACE Micro, LLC is a professional services firm committed to delivering business solutions to mid-market organizations. They are a Microsoft Partner with expertise in Dynamics GP and Dynamics 365 Business Central, among other platforms. ACE specializes in serving the distribution and lite manufacturing industries. ACE manages several offices within the United States.



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