Course 8914A:

Finance in Microsoft Dynamics NAV 5.0 (North America)

Length:3 Days
Published:December 05, 2007
Language(s):English
Audience(s):Information Workers
Level:200
Technology:Microsoft Dynamics NAV 5.0
Type:Course
Delivery Method:Instructor-led (classroom)
About this Course
The three-day Finance in Microsoft Dynamics NAV 5.0 course explores the activities required to handle key financial functions within the organization such as the Cash Management, Budgets, the management of Sales Tax, Journal development and transactions, the General Ledger, and Receivables and Payables Management.
Audience Profile
This course is intended for individuals on the implementation team, administrating or using the financial management functions in Microsoft Dynamics NAV 5.0. 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 designed for customers wishing to learn the basic features and to develop a working knowledge of the typical day-to-day procedures required to effectively use Finance in Microsoft Dynamics NAV 5.0 activities.
Additionally, individuals responsible for training or supporting Microsoft Dynamics NAV 5.0 benefit from the course.
At Course Completion
The goal of this course is to enable students to identify, describe, and use basic Microsoft Dynamics NAV features:
  • 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 Multicurrency
  • Perform standard end of year financial closing operations
Course OutlineModule 1: introductionLessons
  • Structure of the Finance in Microsoft Dynamics NAV 5.0 course
Module 2: Financial Management SetupLessons
  • General Ledger Setup
  • Accounting Periods
  • Trail Codes, including Source Codes and Reason Codes
Lab : Create a Fiscal Year
After completing this chapter, students will be able to:
  • Understand the General Ledger Setup card.
  • Understand and work with accounting periods.
  • Navigate the audit trail.
Module 3: General LedgerLessons
  • Chart of Accounts
  • Chart of Accounts Card
  • General Ledger Budgets
  • Demonstration: Create a Budget
  • Demonstration: Copying Budget Entries
  • Demonstration: Export and Import a Budget
After completing this chapter, 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.
  • Set up GIFI codes.
  • Report account balances by GIFI code.
Module 4: General JournalsLessons
  • Journal Overview
  • Journal Templates
  • Journal Batches
  • Journal Lines
  • Creating and Posting Journal Entries
  • Demonstration: Post a Cash Payment for Cleaning Expenses
  • Recurring Journals
  • Demonstration: Process a Recurring Journal with Allocations
  • Demonstration: Recording Accruals
  • Reversals and Corrections
After completing this chapter, 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 5: Cash ManagementLessons
  • Bank Account Card Overview
  • Create a Bank Account
  • Entering and Posting Receivables Payments
  • Demonstration: Enter a Cash Receipt Payment
  • Entering and Posting Payables Checks
  • Demonstration – Post Manual Checks
  • Demonstration – Suggest Vendor Payments for Local Vendors
  • Financially Voiding Checks
  • Demonstration – Scenario for Financially Voiding a Check
  • Bank Reconciliation
  • Demonstration – Complete a Bank Reconciliation
After completing this chapter, students will be able to:
  • Set up new bank accounts.
  • Enter and post payments.
  • Suggest vendor payments.
  • Financially Void a Check
  • Reconcile a bank account.
Module 6: Receivables ManagementLessons
  • Customer Card and Receivables
  • Cash Receipt Journals Overview
  • Applying Cash Receipt Payments
  • Demonstration – Applying Entries After Posting
  • Deposits
  • Demonstration – Create a Deposit Slip
  • Unapply Customer Ledger Entries
  • Reversal of Posted Journals
  • Set up Payment Discounts
  • Process Payment Discounts
  • Demonstration – Posting Partial Payments with Discounts
  • Demonstration – Add Discounts After Posting Sales Transactions
  • Demonstration – Apply Posted Payments to Sales Documents with Discounts
  • Set up Payment Tolerance
  • Demonstration – Set up Payment Tolerance
  • Process Payment Tolerance
  • Demonstration – Discount Taken Past the Discount Date
  • Demonstration – Discount Calculated Incorrectly
  • Demonstration – Erroneous Totaling of Two Invoices
  • Reminders and Finance Charge Memos
  • Set up and Assign Reminder Terms
  • Demonstration – Create a Reminder Term
  • Create and Issue Reminders
  • Demonstration – Create Reminders Automatically
  • Set up and Assign Finance Charge Items
  • Create and Issue Finance Charge Memos
  • Demonstration – Create Reminders Automatically
  • Create Finance Charge Memos Automatically
  • Analyzing Receivables
After completing this chapter, 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.
  • Review Customer Ledger Entries and Detailed Customer Ledger Entries.
Module 7: Payables ManagementLessons
  • Vendor Card and Payables
  • Payment Journal Overview
  • Apply Vendor Entries Window Overview
  • Post Manual Payables Checks
  • Suggest Vendor Payments Overview
  • Create Payments Using Suggest Vendor Payments
  • Demonstration – Suggest Vendor Payments for All Vendors
  • Demonstration – Suggest Payments fro a Single Vendor
  • Demonstration – Summarize Vendor Payments
  • Demonstration – Use Vendor Priority and Available Amounts
  • Print and Post Payables Checks
  • Demonstration – Print Computer Checks
  • Demonstration – Enter a Computer Check Manually and Print
  • Void Unposted Checks
  • Full Reverse Check Voiding
  • Electronic Payments
  • Apply Payments After Posting
  • Demonstration – Apply a Payment After Posting
  • Unapply Vendor Ledger Entries
  • Reversal of Journal Postings
  • Set up Payment Discounts
  • Process Payment Discounts
  • Demonstration – Suggest Discounted Payment Lines
  • Demonstration – Suggest Payment Lines Without a Discount
  • Demonstration – Adjust Payment Discounts
  • Set up Payment Tolerance
  • Demonstration – Set up Payment Tolerance
  • Process Payment Tolerance
  • Demonstration – Discount Taken Past the Discount Date
  • Demonstration – Adjust the Payment Amount to Reflect Discount
  • Analyze Payables
Lab : Enter a Manual CheckLab : Suggest, Print, and Post a Vendor PaymentLab : Void and Reprint a CheckLab : Voiding and Recreating a Posted CheckLab : Apply a Credit Memo After PostingLab : Unapply a PaymentLab : Reverse a Posted Journal EntryLab : Adjust an Invoice to Include Payment DiscountsLab : Adjust the Payment Discount Amount
After completing this chapter, students will be able to:
  • Use payment journals, both manually and with the Suggest Vendor Payments feature.
  • Work with partial payments.
  • Enter and Post Electronic Payments
  • Understand payment discounts.
  • Understand how to void checks, posted and not posted.
  • Unapply vendor ledger entries.
  • Reverse journal postings.
  • Handle 1099 Processing.
Module 8: PrepaymentsLessons
  • Prepayments Set-up Overview
  • Set up Prepayment General Ledger Accounts
  • Set up Number Series for Prepayment Documents
  • Set up Prepayment Percentages for Customers and Vendors
  • Prepayments and Sales Tax
  • 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
  • Recording Payments for Prepayment Sales and Purchase Invoices
  • Shipping and Invoicing a Sales Order With a Prepayment
  • Demonstration – Invoice a Sales Order With Prepayment and Process a Prepayment for the Sales Order
  • Receive and Invoice a Purchase Order With a Prepayment
  • Prepayments and Payment Discounts
After completing this chapter, 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
  • Record payments
  • Review the corrections that can be made to prepayments.
  • Ship and invoice a sales order with a prepayment.
  • Receive and invoice a purchase order with a prepayment.
Module 9: Sales TaxLessons
  • Sales Tax Setup
  • Sales Tax Groups
  • Sales Tax Jurisdictions
  • Sales Tax Areas
  • Sales Tax Details
  • Calculating Sales Tax
  • Handling Tax Exempt Sales and Non-Taxable Items
  • Unrealized Tax
  • Demonstration – Unrealized Tax
  • Purchase and Use Tax
  • Demonstration – Purchase Tax
  • Additional Tax Topics – Tax Differences, Tax Minimums, Tax on Tax
After completing this chapter, students will be able to:
  • Set Up Sales Tax Posting.
  • Set Up Tax Groups.
  • Handle Unrealized Tax.
  • Set Up Vendors for Purchase and Use Taxes.
  • Adjust Taxes for Prepayment Discounts.
  • Handle Tax Differences, Tax Minimums, and Tax on Tax.
  • Changing the order in which Tax Jurisdictions print on documents.
Module 10: MulticurrencyLessons
  • Currency Card and Currency Exchange Rates
  • Demonstration – Setting Payment Tolerance
  • Set Up Multicurrency for Customers, Vendors, and Bank Accounts
  • Process Sales and Purchase Documents
  • Demonstration – Process a Purchase Invoice
  • Process Cash Receipts
  • Demonstration – Process a Cash Receipt Journal
  • Process Payments
  • Demonstration – Print and Post Checks
  • Convert Journal Entries to Local Currency
  • Demonstration - Use the Insert Conversion LCY Rounding Lines Function
  • Use the Adjust Exchange Rates Batch Job
  • Demonstration – Adjust Currency Exchange Rate
  • Additional Reporting Currency
  • Consolidations with Multiple Currencies
After completing this chapter, students will be able to:
  • Understand and use currency exchange rates.
  • Understand and use additional reporting currencies.
Module 11: Year End Closing ProcessesLessons
  • Closing a Fiscal Year
  • Demonstration – Prior-Year Entry Confirmation
  • Transferring Income Statement Account Balances
  • Demonstration – Run the Close Income Statement Batch Job
  • Demonstration – Review Entries and Post the General Journal
Lab : Lab – Post an Entry into a Closed Fiscal Year
After completing this chapter, students will be able to:
  • Perform standard end of year financial closing operations.
  • Introduction to Microsoft Dynamics NAV 5.0
  • General knowledge of Microsoft Windows
  • Basic knowledge of accounting principles and procedures
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