General ledger

A general ledger contains all the accounts for recording transactions relating to a company's assets, liabilities, owners' equity, revenue, and expenses. In modern accounting software or ERP, the general ledger works as a central repository for accounting data transferred from all subledgers or modules like accounts payable, accounts receivable, cash management, fixed assets, purchasing and projects. The general ledger is the backbone of any accounting system which holds financial and non-financial data for an organization. The collection of all accounts is known as ledger account. This may be a large book.

The statement of financial position and the statement of income and comprehensive income are both derived from the general ledger. Each account in the general ledger consists of one or more pages. The general ledger is where posting to the accounts occurs. Posting is the process of recording amounts as credits (right side), and amounts as debits (left side), in the pages of the general ledger. Additional columns to the right hold a running activity total (similar to a chequebook).

Bank

A bank is a financial institution that creates credit by lending money to a borrower, thereby creating a corresponding deposit on the bank's balance sheet. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial system and influence on national economies, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.

Banking in its modern sense evolved in the 14th century in the rich cities of Renaissance Italy but in many ways was a continuation of ideas and concepts of credit and lending that had their roots in the ancient world. In the history of banking, a number of banking dynasties — notably, the Medicis, the Fuggers, the Welsers, the Berenbergs and the Rothschilds — have played a central role over many centuries. The oldest existing retail bank is Monte dei Paschi di Siena, while the oldest existing merchant bank is Berenberg Bank.

Microsoft Dynamics GP

Microsoft Dynamics GP is a mid-market business accounting software or ERP Software package marketed in North and South America, UK and Ireland, the Middle East, Singapore, Australia and New Zealand. It is used in many additional countries with partner supported localizations. It uses either Microsoft SQL Server 2005, 2008, or 2012 to store data. It is one of four accounting packages acquired by Microsoft that now share the Microsoft Dynamics Business Solutions brand. Dynamics GP is written in a language called Dexterity.

The Dynamics GP product was originally developed by Great Plains Software, an independent company located in Fargo, North Dakota, which was run by Doug Burgum. Dynamics Release 1.0 was released in February 1993. It was one of the first accounting packages in the USA that was designed and written to be multi-user and to run under Windows as 32 bit software. In late 2000, Microsoft announced the purchase of Great Plains Software for $1.1 billion. This acquisition was completed in April 2001.

Microsoft Dynamics

Microsoft Dynamics is a line of enterprise resource planning (ERP) and customer relationship management (CRM) software applications. Microsoft Dynamics applications are delivered through a network of reselling partners who provide specialized services. Very few installations are made without the aid, and cost, of these resellers. In its 2013 update, the first since 2009, Microsoft removed many capabilities of users to access features such as report-writing without the intervention, and cost, of members of their approved reseller network . Microsoft Dynamics is part of Microsoft Business Solutions. Dynamics can be used with other Microsoft solutions, such as SharePoint, Yammer, Office 365, Azure and Outlook. The Microsoft Dynamics focus industries are retail, service, manufacturing, financial services, and public sector. Microsoft Dynamics provides business solutions for both small & medium businesses and Enterprise.

Products

Microsoft Dynamics ERP comprises a group of enterprise-resource-planning products primarily geared toward midsize organizations with simple corporate structures and low-to-moderately complex production models. Microsoft Dynamics ERP includes five primary products: