Course 80041A:

Finance in Microsoft Dynamics NAV 2009

Length:3 Days
Published:December 29, 2008
Language(s):English, Danish, French, German, Italian, Russian, Spanish
Audience(s):Information Workers
Level:200
Technology:Microsoft Dynamics NAV 2009
Type:Course
Delivery Method:Instructor-led (classroom)
About this Course
The three-day course, Microsoft Dynamics Finance NAV 2009, covers the basic financial functionality available for Microsoft Dynamics NAV 2009. Students learn how to set up the General Ledger, Accounts Payable, Accounts Receivable, and Bank Management modules in Microsoft Dynamics NAV.

The student also learn how to create transactions, use the VAT module and create reporting in more than one currency. This course gives you hands-on experience in setting up financials in Microsoft Dynamics NAV 2009.
This course provides the necessary tools for students to handle the key financial functions within an organization, hereunder create postings, process cash management, develop journals, and follow the transactions. The student will also be able to process the receivables and payables management module in NAV and manage VAT in NAV.
Audience Profile
The audience for this course includes individuals on the implementation team that are administrating or using the financial management functions in Microsoft Dynamics NAV 2009. This audience typically includes individuals who are tasked with assessing a customer’s business needs and advising them on the use, configuration, and customization of the application. It is also for customers who want to learn the basic features and develop a working knowledge of the typical daily procedures required to effectively use Finance in Microsoft Dynamics NAV 2009. Additionally, individuals responsible for training or supporting Microsoft Dynamics NAV 2009 benefit from the course.
At Course Completion
After completing this course, students will be able to:
  • Maintain and work with the General Ledger.
  • Process a bank reconciliation.
  • Use journals and batches.
  • Understand receivables management.
  • Understand payables management.
  • Setup and work with Prepayments
  • Setup and work with multicurrency.
  • Setup and work with VAT and Intrastat
  • Perform standard end of year financial closing operations.
Course OutlineModule 1: Financial Management Setup
This module explain the fields on the General Ledger Setup window. It also explains how set up Accounting Periods, and how to set up Trail Codes, Source Codes, and Reason Codes
Lessons
  • General Ledger Setup
  • Accounting Periods
  • Trail Codes
Lab : Create a Fiscal Year
After completing this module, students will be able to:
  • Understand the General Ledger Setup card.
  • Understand and work with accounting periods.
  • Navigate the audit trail.
Module 2: General Ledger
This module explain the use of the Chart of Accounts and the elements of the Chart of Accounts and the G/L Account Card.
 
It also explain the Budgets feature and the G/L Budgets page. It describes the process of setting up budgets manually, the additional budget processes, such as deleting budget entries, the process of creating budgets by using the Copy Budget function and the process of creating budgets by using the Export Budget and Import Budget functions.
Lessons
  • Chart of Accounts Overview
  • G/L Account Card
  • Chart of Accounts Page
  • Budget
  • Create Budgets Manually
  • Copy Budgets
  • Export and Import Budgets
Lab : Create a Revenue AccountLab : Create a VAT AccountLab : Create a BudgetLab : Copy a Budget
After completing this module, students will be able to:
Understand and maintain the chart of accounts.
Understand the General Ledger Setup card.
Set up and work with budgets.
Copy and export budgets.
Module 3: General Journals
This module explain the General Journal entry and posting system. It describes how to create and post General Journal entries.
 
It also describe Recurring Journals, including the fields and allocations to recurring journals and it demonstrate how to use Recurring Journals with allocations and how to record accruals. It also explain the process of reversing and correcting journal entries.
Lessons
  • Journal Overview
  • Creating and Posting Journal Entries
  • Recurring Journals Overview
  • Processing Recurring Journals
  • Reversals and Corrections
Lab : Create a Journal EntryLab : Create and Post a Recurring Journal
After completing this module, students will be able to:
  • Understand the structure of journals, batches, and lines.
  • Create a journal template.
  • Create a journal batch.
  • Create and post journal entries.
  • Understand and use recurring journals.
  • Use general journals to post corrections.
Module 4: Cash Management
This module describe the Bank Account Card. It demonstrate the process for entering and posting payments received from customers and the process for entering and posting payments to vendors.
 
This module explain and demonstrate the process of financially voiding a check.
It also describe the Bank Account Reconciliation window, the options for populating the bank reconciliation lines and demonstrate how to process a bank reconciliation.
Lessons
  • Bank Account Overview
  • Entering and Posting Receivables Payments
  • Entering and Posting Payables Checks
  • Financially Voiding Checks
  • Bank Reconciliation
Lab : Create a Bank AccountLab : Apply and Post Cash ReceiptsLab : Enter and Post Manual ChecksLab : Suggest Vendor Payments for a Single VendorLab : Financially Void a Check
After completing this module, students will be able to:
  • Set up new bank accounts.
  • Enter and post payments.
  • Suggest vendor payments.
  • Reconcile a bank account.
Module 5: Receivables Management
This module describes the Payments FastTab on the Customer Card.
 
It explain the Cash Receipt Journal, which is used to post payments received, the process of applying cash receipt payments and the process of unapplying entries to customer ledger entries. It also explain the process of reversing customer ledger entries.
 
This module explains how to use payment discounts and describes the transactions for various situations that benefit from payment discounts.
 
It explains how to use payment tolerance and describes the transactions for various situations that benefit from using payment tolerance.
 
This module also explain why and when Reminders and Finance Charge Memos are used, it explain how to use reminders and the process of creating and issuing reminders.
 
It also explain how to use finance charge memos and the process of creating and issuing finance charge memos.
 
Finally it describes how to review the Customer Ledger Entries and Detailed Customer Ledger Entries.
Lessons
  • Customer Card
  • Cash Receipt Journals Overview
  • Applying Cash Receipt Payments
  • Unapply Customer Ledger Entries
  • Reversal of Posted Journals
  • Set Up Payment Discounts
  • Process Payment Discounts
  • Set Up Payment Tolerance
  • Process Payment Tolerance
  • Reminders and Finance Charge Memos
  • Set Up and Assign Reminder Terms
  • Create and Issue Reminders
  • Set Up and Assign Finance Charge Terms
  • Create and Issue Finance Charge Memos
  • Analyzing Receivables
Lab : Apply and post a Cash ReceiptLab : Applying a Payment after postingLab : Unapply Posted Ledger EntriesLab : Reverse a Posted Journal EntryLab : Post a Payment with a DiscountLab : Apply Posted Partial Payments with DiscountsLab : Set Up a Payment ToleranceLab : Process a Payment ToleranceLab : Set Up a Reminder TermLab : Create and Issue RemindersLab : Create and Issue Finance Charge Memos
After completing this module, students will be able to:
  • Understand detailed customer ledger entries.
  • Analyze receivables accounts.
  • Use the Cash Receipts journal to apply cash.
  • Understand how to handle partial payments and foreign currencies.
  • Make corrections by Unapplying customer ledger entries.
  • Reverse journal postings.
  • Understand and work with payment discounts.
  • Understand and work with payment tolerances.
  • Understand and work with reminders and finance charge memos.
Module 6: Payables Management
This module describe the Payments FastTab on the Vendor Card window. It explain the Payment Journal, which is used to process payments. It also explain the Apply Vendor Entries window, used to apply payments to vendor ledger entries.
 
This module explain the process of entering and posting manual checks. it decribes the Suggest Vendor Payments batch job, which is used to generate open payables entries in the Payment Journal and how to create payments using the Suggest Vendor Payment batch job.
 
This module explain the process of printing and posting payments and explain the process of voiding printed but unposted payments.
 
It demonstrate how to apply payments to vendor ledger entries after posting, explain the process of unapplying vendor ledger entries and explain the process of reversing vendor ledger entries posted using journals.
 
It explains how to use payment discounts and describes the transactions for various situations that benefit from using payment discounts.
 
It explains how to use payment tolerance and the transactions for various situations that benefit from payment tolerance.
 
Finally it describes how to review Vendor Ledger Entries and Detailed Vendor Ledger Entries
Lessons
  • Vendor Card
  • Payment Journal Overview
  • Apply Vendor Entries Window
  • Post Manual Payables Checks
  • Suggest Vendor Payments Overview
  • Create Payments Using Suggest Vendor Payments
  • Print and Post Payables Checks
  • Void Unposted Checks
  • Apply Payments after Posting
  • Unapply Vendor Ledger Entries
  • Reversal of Journal Postings
  • Set up Payment Discounts
  • Process Payment Discounts
  • Set Up Payment Tolerance
  • Process Payment Tolerance
  • Analyze Payables
Lab : Enter a Manual CheckLab : Suggest, Print, and Post a Vendor PaymentLab : Void a CheckLab : Apply a Credit Memo after PostingLab : Unapply a PaymentLab : Reverse a Posted Journal EntryLab : Adjust the Payment Discount Amount
After completing this module, students will be able to:
  • Use payment journals, both manually and with the Suggest Vendor Payments feature.
  • Work with partial payments.
  • Understand payment discounts.
  • Understand how to void checks, posted and not posted.
  • Unapply vendor ledger entries.
  • Reverse journal postings.
Module 7: Prepayments
This module explain the requirements for setting up prepayments and how to set up and assign prepayment General Ledger accounts, for sales and purchases, and how to set up default prepayment percentages on customers and vendors and Customer-Item and Vendor-Item combinations.
 
It describes how to set up prepayment posting verification for sales and purchases and explain the prepayment processing flows for sales and purchase orders. It also describe the prepayment-specific fields on sales and purchase orders and how to create sales and purchase orders with prepayment percents and amounts and prepayment invoices from sales and purchase orders.
 
This module explain the processes available to correct posted prepayment invoices.
Lessons
  • Prepayments Setup Overview
  • Set Up Prepayment General Ledger Accounts
  • Set Up Number Series for Prepayment Documents
  • Set Up Prepayment Percentages for Customers and Vendors
  • Set Up Prepayment Percentages for Customer-Item and Vendor-Item Combinations
  • Set Up Check Prepayment When Posting
  • Prepayments Processing Flows
  • Prepayment Sales and Purchase Orders Overview
  • Process Prepayment Sales and Purchase Orders
  • Process Prepayment Sales and Purchase Invoices
  • Correct Prepayments
Lab : Set Up Prepayments for Sales
After completing this module, students will be able to:
  • Set up prepayments in the General Ledger.
  • Process prepayments, including the following:
    • Create an order requiring prepayment.
    • Create a prepayment invoice.
    • Review the corrections that can be made to prepayments
Module 8: VAT and Intrastat
This module explain the VAT settings on sales and purchase documents. It also explain the process of adjusting calculated VAT amounts in sales and purchase documents and journals.
 
This module demonstrate the process of recording Import VAT.
 
This module describe how to correct a posted VAT entry and print a VAT Statement. It explain and run the Calc. and Post VAT Settlement batch job.
 
This module explain the requirements of reporting Intrastat, how to set up Intrastat and the process of running and submitting Intrastat reports.
Lessons
  • Display VAT Amounts in Sales and Purchase Documents
  • Adjust VAT Amounts in Sales and Purchase Documents and Journals
  • Import VAT
  • VAT Correction
  • VAT Statements
  • VAT Settlement
  • Intrastat Reporting
  • Set Up Intrastat
  • Report Intrastat
Lab : Adjust a VAT Amount in a Sales DocumentLab : Adjust a VAT Amount in a Purchase Journal
After completing this module, students will be able to:
  • Use VAT Posting Setup.
  • Set up VAT posting groups.
  • Do manual VAT calculations in journals.
  • Show VAT calculations on sales and purchase documents.
  • Record/Post import VAT.
  • Demonstrate VAT corrections.
  • Understand VAT reporting.
  • Demonstrate VAT settlement.
  • Process unrealized VAT.
  • Adjust VAT for payment discounts.
  • Understand Intrastat reporting.
Module 9: Multicurrency
This module explain the setup requirements for currencies and exchange rates when using multiple currencies.
It also explains the setup requirements using multiple currencies with Customers, Vendors, and/or Bank Accounts and the additional functionality for using Purchase and Sales documents that have foreign currency.
 
This module describe the additional functionality when posting multicurrency transactions in the Cash Receipts Journal or the Payments Journal.
It describes the process of running the Adjust Exchange Rates batch job for Customers, Vendors, and/or Bank Accounts.
And It also explain the set up, viewing amounts, daily processing, and periodic processes when using an Additional Reporting Currency.
 
Finally this module explain the process of consolidations with companies using different currencies.
Lessons
  • Currency Card and Currency Exchange Rates
  • Set Up Multicurrency for Customers, Vendors, and Bank Accounts
  • Process Sales and Purchase Documents
  • Process Cash Receipts
  • Process Payments
  • Use the Adjust Exchange Rates Batch Job
  • Additional Reporting Currency
  • Consolidations with Multiple Currencies
Lab : Process a Sales InvoiceLab : Post Expenses in Foreign CurrencyLab : Update the USD:GBP Exchange RateLab : Adjust the ACY Exchange Rate
After completing this module, students will be able to:
  • Understand and use currency exchange rates.
  • Understand and use additional reporting currencies.
Module 10: Year End Closing Processes
This module explains how to close the accounting periods for the fiscal year, run the Close Income Statement batch job process and complete the closing process by posting the General Journal.
Lessons
  • Closing a Fiscal Year
  • Transferring Income Statement Account Balances
  • Posting the Journal
Lab : Post an Entry into a Closed Fiscal Year
After completing this module, students will be able to:
  • Perform standard end of year financial closing operations
Before attending this course, students must have a:
  • Introduction to Microsoft Dynamics NAV 2009
  • General knowledge of Microsoft Windows
  • General knowledge of Microsoft Office
  • Basic knowledge of accounting principles and procedures
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