Belinda the GP CSI covered this as part of a look at the Checkbook registered but I wanted to pull it out an highlight it.
The Checkbook register can be slow returning large amounts of data. A way to deal with that is to set the data range you want FIRST then pick the Checkbook ID.
Weekly Dynamic: Pick Checkbook Dates Before the ID
Tips & Hidden FeaturesPayables & Receivables
Archived post from 2011. Dynamics GP and the links it points to have changed since; check current documentation before relying on version-specific steps.