What do you like best?
The best part about MS Dynamics GP is the ability to "copy and paste" journal entries into the General Journal entry window from any Excel workbook. The integration is as easy as highlighting an array of cells which contain a description, account, debit, and credit for each line item in the journal entry. I am also a very large fan of the smartlist feature. Smartlists basically let you build queries using their user-friendly interface. They will return anything (in tabular form) that doesn't require too complicated of join structures on the back end (database).
What do you dislike?
Sometimes the software can run a bit slow. This may not be MS Dynamics GP's fault. Either way, it should be noted. For whatever reason, it can take a very long time for trial balances to generate. Also, the program can take a while to start up as well.
Recommendations to others considering the product
Make sure you have a solid support team. Typically, this would be a 3rd party vendor. If I'm not mistaken, our consultants have been key in troubleshooting any issues we've had arise over the last couple years. Furthermore, they were the ones who created the aforementioned integration with MS Excel.
What business problems are you solving with the product? What benefits have you realized?
MS Dynamics GP is accounting software. So, we are using it as our general ledger. The software makes sure the typical accounting controls are adhered to (debits = credits, user restrictions, etc.). The software appears to tackles all of these things sufficiently.