Having worked for Solomon Software for 9 years, people assume that I prefer Dynamics SL over Dynamics GP. If there is any truth to this, it is only because I know Dynamics SL better. I do think Dynamics GP is pretty special.
Dynamics GP impresses in the financial module and integration tool areas. If there is one financial module area where Dynamics SL is superior to Dynamics GP, out of the box, it is in the area of Multi-Company.
In Dynamics SL, you can have one database housing as many companies as you’d like.
You can set up rules within GL, AR, or AP to initiate automated due-to, and due-from type entries simply by using an account where rules exist to automated the creation of offsetting Journal Entries. The entries keep the companies’ balance sheets in balance.
Watching people see these entries create themselves is a thing of beauty when demonstrating to people that have always made these entry themselves. They actually smile thinking to themselves how they can free up time to do more productive work.
My rule of thumb is that as soon as you get that third company to track with intercompany transactions, you are crazy not to buy this type of module.
One of the other beautiful things about the Dynamics SL Multi-Company module is that it allows you to have one vendor or customer record for say 7 companies. This means that you can run a report to show you what all 7 companies owe, what just one of the companies owe, or any combination of companies owe, this one vendor. The same is true on the customer side.
It also means that if the customer moves, you only have to change one address-not 7.
Let’s change to Dynamics GP thinking now. Dynamics GP has some Inter-company/InterFund capabilities that allow you to split payments among companies on the payables side. …not so much is available on the receivables side. …sharing of vendors can not be done out of the box-or customers.
What Dynamics GP does have going for it however is a product that does a wonderful job with Multi-Company. It’s called Binary Stream Multi-Facility and it allows you to streamline multiple databases into one database.
Multi-Facility Processing was developed for organizations with multiple locations, sites or facilities to manage and consolidate their operations in a single database. This module allows users to share Items, Vendors, Customers and GL Accounts.
While Dynamics SL has a Multi-Company module on its price list-nothing can make the Inventory multi-company or allow for the sharing of items. Further this software product, written in the Dynamics GP toolset, allows for Multi-Company processing through Fixed Assets and Purchasing as well.
We have a long term care facility client in South Minneapolis that has many homes. For them, centralizing cash, being able to share vendors and eliminating inter-location journal entries were large time savers.
The South Minneapolis client liked the additional security that Binary Stream’s Multi-Facility product allowed but more importantly it reduced the number of intercompany transactions. Dynamics GP forced transactions to go through one central treasury rather than allowing direct due to and due from journal entries. Binary Stream’s product allowed Company A to have a due to created from Company B without having to create entries at all in the central treasury company or Company X in this example.
Dynamics SL allows you to keep multiple companies open at the same time. This is something that even this wonderful product by Binary Stream can not do for you.
The 56 people that attended the Dynamics SL Launch Event this month loved this feature. I was surprised at how many of our existing clients manage multiple balance sheets.
For Dynamics GP, http://www.binarystream.com/documents/Multi-Facility_Process
ing_Brochure.pdf will allow you to download this datasheet.
For Dynamics SL, https://www.boyerassoc.com/wp-content/uploads/SL-Modules/Financial-Management/Microsoft_Dynamics_SL_Multi-Company.pdf will allow you to download this datasheet.