Learning the Ropes at Mekorma

 
By Mekorma Sales Consultant Karen Wainwright

June 13, 2018

We’ve all been there. You have a new job and new adventure with exciting potential ahead. But, there’s so much to learn. For most new employees, it’s baptism by fire or drinking from the fire hose.

As Mekorma’s new Sales Consultant, I’d like to share some of the resources that have become invaluable to me. If you are in the Dynamics GP space or working with AP Management, you will enjoy some of the random golden nuggets I have found or was reminded of.

Let’s start with some commonly used acronyms/terms and meanings…

  • MICR: Magnetic Ink Character Recognition – Is the special font on the bottom of checks that contains the bank’s account number, the bank account routing number and check number.

  • ACH: Automated Clearing House – Per Wikipedia, it’s an electronic network for financial transactions in the US. It processes large volumes of credit and debit transactions in batches.

  • EFT: Electronic Funds Transfer – Transfers money from one bank to another or in the case of GP, for a company or organization to pay electronically vs. a check.

  • Safe Pay or Positive Pay - Safe Pay is a GP term and is synonymous with Positive Pay, a tool to help prevent fraud by matching payments against a list of payments.

  • VCC: Virtual Credit Card – A temporary, one-time use credit card number with a maximum allowable purchase.

  • SPLA: Service Provider Licensing Agreement – A way to license hosted applications to end-users.

  • P2P: Procure to Pay – The entire cycle from Vendor Master Maintenance to Invoice Processing to Payment Processing, ending in Period Closing.

  • MEM: Multi-Entity Management – The famous solution from Binary Stream which consolidates all your entity financial information into one Dynamics GP database.

  • MMM: Mekorma Multi-Batch Management –  Giving access to all batches across companies and brings five typical payment actions into one screen.

  • MEEP: Mekorma Enhanced Electronic Payments – Provides clients with the ability to convert AP to electronic payment processing to include Virtual Credit Cards, EFTs and check printing, as well.

     



Then, here is a great organization for Payment Professionals. Are you familiar with the Accounts Payable & Procure-to-Pay Network (AP&P2P)? This is not a Dynamics GP organization, but focused on general AP process owners. We joined recently to improve our knowledgebase on practices and trends our customers care about.

When you see Mekorma on LinkedIn, Twitter or YouTube, please don’t forget to like and share our posts.

Our hashtag is #Mekorma and our Twitter handle is @Mekorma_GP.

If you like to post on your own in the Dynamics GP space, don’t forget to use Jon Rivers’ updated commonly used hashtags. Sharing content with your fellow GP users only strengthens our community.

This blog post should help you know us better. We look forward to conversations with you whether they are on social media or in-person.