Course 80017A:

Financials II in Microsoft Dynamics AX 2009

Length:2 Days
Published:December 12, 2008
Language(s):English, Chinese (Simplified), Danish, Dutch, French, German, Japanese, Portuguese (Brazil), Russian, Spanish
Audience(s):Information Workers
Level:200
Technology:Microsoft Dynamics AX 2009
Type:Course
Delivery Method:Instructor-led (classroom)
About this Course
This two-day instructor-led collection explores the advanced financial functionality of Microsoft Dynamics AX. Some topics that are covered include the setup and usage of budgeting, cash flow management, multicurrency, intercompany, and consolidated accounting. Additionally, students learn multiple advanced payment options, XBRL taxonomy, customer account statements, collection letters, interest, year-end close functionality, and financial statements. This course is an extension of the Microsoft Dynamics AX 2009 Financials I collection.
Audience Profile
This collection is intended for people on the implementation, training, or support teams or those who administer or use the financial management modules.
At Course Completion
After completing this course, students will be able to:
  • Set up and maintain budgets.
  • Understand cash flow functionality.
  • Set up and maintain multicurrency.
  • Understand advanced payment functionality.
  • Set up and process intercompany accounting.
  • Setup and process company consolidations.
  • Set up and process customer account statements, collection letters, and interest.
  • Create and use dimension hierarchies.
  • Import and use XBRL taxonomy.
  • Perform a year-end close.
  • Set up and print financial statements.
Course OutlineModule 1: Budgeting
Budgets are tools that are used to predict what the results of operations will be for a company. In addition, they can be used to compare actual and predicted (budgeted) results, to evaluate the effectiveness of operations.
Lessons
  • Create a Budget Model
  • Period Allocation Keys
  • Enter Budget Numeric Data
  • Generate a Ledger Budget Report
  • Apply Setup Features to the Budget
  • Simulate Budgets
  • Edit Budgets
  • Budget Revisions
  • View Budget Data and Reports
Lab : Create a Budget ModelLab : Create Period Allocation Keys Using the WizardLab : Enter and Generate a Budget
After completing this module, students will be able to:
  • Create budget models and submodels.
  • Create Period Allocation Keys.
  • Enter budget numeric data.
  • Generate and print a budget.
  • Apply setup features to budgets.
  • Show how to simulate budgets.
  • Edit budgets.
  • List the benefits of creating a revised budget versus modifying an existing budget.
  • Name the steps that are required to revise a budget.
  • View budget data.
Module 2: Cash Flow Management
Cash flow forecasting is used to estimate the company's future need for cash.
Lessons
  • Relationship of Cash Flow to Other Modules
  • Set Up Cash Flow Forecasting
  • Define a Cash Flow Forecast Budget Model
  • Create Cash Flow Transactions
  • Calculate Cash Flow Transactions
Lab : Set Up a Ledger Account for Cash Flow ForecastingLab : Set Up a Dependent Ledger AccountLab : Create a Budget Entry to Include in Cash FlowLab : Calculate Cash Flow Transactions
After completing this module, students will be able to:
  • Understand the relationship of cash flow to other modules.
  • Set up cash flow forecasting.
  • Define a cash flow forecast budget model.
  • Create cash flow transactions.
  • Calculate cash flow transactions.
  • View online data and print cash flow reports.
Module 3: Multicurrency
Microsoft Dynamics AX 2009 works with multiple currencies and provides several methods to meet the accounting requirements in different countries. The basics of setting up currencies and exchange rates are covered in the Financials I collection. This course describes advanced currency topics such as exchange rate adjustments. Exchange rates constantly fluctuate; therefore, exchange rate adjustments are necessary for correct periodic accounting. If they are not periodically adjusted to reflect the current rates, foreign amounts converted and posted to the General Ledger, and displayed in reports can be misleading.
Lessons
  • Setup
  • Exchange Rate Adjustments
  • Accounts Receivable and Accounts Payable Exchange Rate Adjustments
Lab : Accounts Receivable Exchange Rate Adjustment
After completing this module, students will be able to:
  • Complete the setup steps that are required for exchange rate adjustments.
  • Run exchange rate adjustments in General Ledger.
  • Run exchange rate adjustments in Accounts Receivable and Accounts Payable.
Module 4: Advanced Payments
This module describes the processing and setup of advanced customer and vendor payments. These advanced payments include bridging accounts, electronic payments, bills of exchange, and prepayments. Also included are several of the options available when setting up a method of payment, and how to use the ledger accrual functionality to defer costs or income throughout the year.
Lessons
  • Bridging Accounts
  • Electronic Vendor Payments
  • Electronic Customer Payments
  • Centralized Payments
  • Prepayments (Deposits)
  • Bill of Exchange Administration
  • Ledger Accrual
Lab : Bridging AccountsLab : Prepayments SetupLab : Ledger Accrual
After completing this module, students will be able to:
  • Create and process a bridging account method of payment.
  • Set up and process electronic vendor payments.
  • Set up and process electronic customer payments.
  • Set up and process centralized payments.
  • Set up and process prepayments.
  • Set up and process bills of exchange.
  • Set up and apply ledger accruals.
Module 5: Intercompany Accounting
Intercompany accounting may be used when accounting processes are centralized for subsidiaries or branch offices. With Intercompany accounting, a single entry can be made which posts to multiple companies.
Lessons
  • Post Intercompany Transactions
  • Intercompany Posting Setup Demonstration
  • Post an Intercompany Transaction Demonstration
  • Trace an Intercompany Entry Demonstration
Lab : Enter and Post an Intercompany TransactionLab : Trace an Intercompany Transaction
After completing this module, students will be able to:
  • Review posting intercompany transactions.
  • Review setup for intercompany accounting.
  • Post an intercompany transaction.
  • Trace an intercompany transaction.
Module 6: Consolidations
This module demonstrates the functionality and flexibility of Microsoft Dynamics AX 2009 in consolidating subsidiary companies into a single consolidated (parent) company. Some key features include the ability to consolidate companies whether they reside in the same database or in different databases, map the Chart of Accounts and dimensions in a subsidiary to the consolidated company, specify how the exchange rate should be calculated for the consolidation, and designate the percentage of ownership that should roll into the consolidated company from the subsidiary.
Lessons
  • Set Up a Consolidation Company
  • Set Up a Subsidiary Company
  • Perform a Consolidation
  • Consolidations Inquiry
  • View and Delete Consolidation Transactions
  • Intercompany Eliminations
Lab : Set Up a Consolidation CompanyLab : Perform a ConsolidationLab : Consolidations InquiryLab : View and Delete Consolidation Transactions
After completing this module, students will be able to:
  • Set up a consolidation company.
  • Set up a subsidiary company.
  • Perform a consolidation.
  • View the Consolidations inquiry.
  • View and delete consolidation transactions.
  • Describe intercompany eliminations.
Module 7: Customer Account Statement, Collection Letter, and Interest
This module demonstrates three processes that are useful in the collection process. Customer account statements are used to provide an accounting of all amounts due from a customer for a period of time. Although most customers pay their invoices on time, it is necessary to be able to process invoices that are not paid by their due date. Collection letters and interest notes can be used for these situations.
Lessons
  • Customer Account Statement
  • Set Up Collection Letters
  • Process Collection Letters
  • Set Up Interest Codes
  • Calculate Interest
Lab : Set Up a Collection LetterLab : Collection LetterLab : Set Up an Interest CodeLab : Calculate Interest
After completing this module, students will be able to:
  • Print customer statements.
  • Set up and create collection letters.
  • Process collection letters.
  • Set up interest codes.
  • Calculate interest.
Module 8: Dimension Hierarchies
Financial figures must be analyzed through different financial dimensions as a supplement to voucher and account numbers. However, it can be difficult to control the assignation of financial dimension values. Sometimes dimension values are assigned to the wrong financial transactions making reports and statistics incorrect. The implementation of dimension sets with hierarchies makes it possible to control the values entered in the system and therefore ensures more reliable data.
Lessons
  • Dimension Sets, Hierarchies, and Rules
  • Dimension Sets
  • Dimension Subsets
  • Dimension Set Hierarchy
  • Dimension Set Rules
Lab : Dimensions, Sets, Hierarchies, and Rules
After completing this module, students will be able to:
  • Explain the overall concept of dimensions sets, hierarchies and rules.
  • Create a dimension set.
  • Create a dimension subset.
  • Create a dimension set hierarchy.
  • Create a dimension set rule.
Module 9: XBRL Taxonomy
XBRL is a global financial reporting initiative started by numerous ERP software companies and international accounting organizations. The goal of XBRL is to provide a standard for uniform reporting of financial information for banks, investors and government authorities.
Lessons
  • XBRL Taxonomy
  • Import XBRL Taxonomy
  • Create an XBRL File from the Financial Statement
Lab : Import XBRL Taxonomy
After completing this module, students will be able to:
  • Explain the concept of XBRL taxonomy.
  • Import XBRL taxonomy.
  • Create an XBRL file from the Financial Statement.
Module 10: Year-End Close
This module describes the year-end functionality in Microsoft Dynamics AX 2009 and provides assistance in the processes for creating and closing fiscal years. At year-end, it is always necessary to make adjustment entries that reflect transactions from the previous year, print reports, including Financial Statements, back up data, create a new fiscal year, and transfer opening balances.
Lessons
  • Create a New Fiscal Year
  • Control Transactions in a Closing Period
  • Create and Post a Closing Sheet
  • Transfer Opening Balances
Lab : Year-End Close
After completing this module, students will be able to:
  • Create a new fiscal year.
  • Control transactions in a closing period.
  • Stop or close a period.
  • Create a closing sheet.
  • Make adjustments or transfers between accounts.
  • Transfer opening balances.
  • Set up fiscal year close parameters.
Module 11: Financial Statements
The Financial Statement feature in Microsoft Dynamics AX 2009 enables the building of a custom reporting structure. It is a powerful reporting tool that explores financial figures depicted in a company context and from a business perspective.
Lessons
  • Dimension Focus
  • Financial Statement Row Definition
  • Financial Statement Column Definition
  • Print a Financial Statement
  • Demonstration: Create a Balance Sheet
  • Dimension Reports and Inquiries
Lab : Create and Print a Financial StatementLab : Create a Dimension Statement
After completing this module, students will be able to:
  • Create a dimension focus.
  • Create a row definition.
  • Design the structure of row definitions.
  • Create a column definition.
  • Print a financial statement.
  • Create and print a financial statement.
  • Create and print a dimension statement.
  • View balances by dimension focus.
Before attending this class, students must have:
  • Basic knowledge of accounting principles.
  • An understanding of how to move within Microsoft Dynamics AX.
In addition, we recommend, but do not require, that students have completed:
  • Microsoft Dynamics AX 2009 Introduction collection
  • Microsoft Dynamics AX 2009 Financials I collection
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