Course 80219A:

Financials I in Microsoft Dynamics AX 2012

Length:3 Days
Published:September 09, 2011
Language(s):English, Chinese (Simplified), French, German, Italian, Japanese, Spanish
Audience(s):Information Workers
Technology:Microsoft Dynamics AX 2012
Delivery Method:Instructor-led (classroom)
About this Course
This course explores some of the basic financial functionality available in Microsoft Dynamics AX. Students will be introduced to set up processes in General Ledger, Accounts Payable, Accounts Receivable, and the Bank module, as well as how to enter transactions in each.
Audience Profile
This course is intended for partners, customers and other end users of the financial modules in Microsoft Dynamics AX.
At Course Completion
After completing this course, students will be able to:
  • Set up General Ledger.
  • Set up a Chart of Accounts.
  • Set up Journals.
  • Enter General Ledger Transactions.
  • Set up Sales Tax Components.
  • Set up Reason Codes and use the Fill Utility.
  • Set up Bank Accounts and Bank Parameters.
  • Enter Bank Transactions.
  • Set up Accounts Payable.
  • Enter Accounts Payable Transactions.
  • Set up Accounts Receivable.
  • Enter Accounts Receivable Transaction.
Course OutlineModule 1: General Ledger SetupThis module explains how to work with the chart of accounts and it's multiple dimensions. These dimensions may be used to track profits, cost centers, and other financial information. Allocation rules and methods are also discussed in this course.Lessons
  • Currency and Exchange Rate Setup
  • Periods and Fiscal Year Setup
  • Date Intervals
  • Reason Codes
  • Financial Dimensions
  • Financial Dimension Sets
  • Period Allocations
Lab : Setup a Currency Exchange RateLab : Create Periods in a New Fiscal YearLab : Assign Ledger Account Dimension Values
After completing this module, students will be able to:
  • Set up Currencies and Exchange Rates.
  • Create Periods in a new Fiscal Year.
  • Create Date Intervals.
  • Create, modify and delete Reason Codes.
  • Create a Financial Dimension value.
  • Create a Dimension Set.
  • Set up Allocation Rules.
  • Contrast the various Allocation Methods.
Module 2: Chart of Accounts SetupThis module discusses the set up of the chart of accounts. Topics include account categories, creating new accounts, defining account information and creating ledgers.Lessons
  • Main Account Categories
  • Chart of Accounts
  • Main Account Information
  • Main Account Administration Information
  • Main Account Setup Information
  • Configuring Account Structures
  • Advanced Rules
  • Ledger Setup
  • Accounts for Automatic Transactions
  • Inquiries and Reports Related to the Chart of Accounts
Lab : Enter a Main AccountLab : Account Allocation Terms
After completing this module, students will be able to:
  • Create, edit, close or delete Main Account Categories.
  • Create a new account in the Chart of Accounts.
  • Define Main Account information.
  • Define Administration information for the main Chart of Accounts.
  • Define setup information for the main Chart of Accounts.
  • Set up Account Structures.
  • Set up Advanced Rules.
  • Create a Ledger.
  • Set up Accounts for automatic transactions.
  • View Inquiries and Reports related to the Chart of Accounts.
Module 3: Journal SetupThis module explains the basic setup procedures for journals, including journal names, controls, and texts.Lessons
  • Journal Setup
  • Journal Controls
  • Journal Descriptions
  • Balance Control Accounts
  • General Ledger Parameters
Lab : Set Up Journals
  • Set up the Vendor Invoice Journal 
  • Set up the Rent Journal
  • Set up Journal Text for the Rent Journal
After completing this module, students will be able to:
  • Set up Journal Names.
  • Set up Journal Controls.
  • Create Journal Texts.
  • Set up Balance Control Accounts.
  • Set up General Ledger Parameters.
Module 4: General Ledger Daily ProceduresThis module focuses on journal management and journal transactions. Review, change and modification of journals are discussed in this course.Lessons
  • General Ledger Journals
  • Enter General Ledger Transactions
  • Posting Multiple Journals
  • Approval Journals
  • Gathering Data for an Approval Journal
  • Voucher Templates
  • Periodic Journals
  • General Ledger Transaction Reversal
  • Reversing Entries - General Journal
  • Inquire and View Reports on Daily Journal Transactions
Lab : Daily Transactions
  • Create the Journal
  • Create the Journal Lines
  • Post the Journal
Lab : Daily Transactions with Balance Control
  • Create the General Journal
  • Validate the General Journal
  • Review the Balance Control
Lab : Entering Periodic Transactions
  • Set up the Journal Name
  • Create the Periodic Journal
  • Post the Entry
After completing this module, students will be able to:
  • Create General Ledger Journals.
  • Enter General Ledger Transactions.
  • Post Multiple Journals.
  • Create Approval Journals.
  • Demonstrate data needed to create an Approved Journal.
  • Create a Voucher Template
  • Create and retrieve Periodic Journals.
  • General Ledger Transaction Reversal.
  • Create General Ledger Reversing Entries.
  • Inquire and report on Daily Journal Transactions.
Module 5: Sales Tax SetupThis module introduces the functionality available for handling sales tax in Microsoft Dynamics AX. Information regarding tax calculations options, posting and reporting can be handled is discussed along with how to enter sales tax transactions.Lessons
  • Sales Tax Overview
  • Ledger Posting Groups
  • Sales Tax Authorities
  • Sales Tax Settlement Periods
  • Sales Tax Codes
  • Sales Tax Code Intervals
  • Sales Tax Groups
  • Item Sales Tax Groups
  • Sales Tax Jurisdictions
  • Sales Tax Transactions
  • Sales Tax Exemption
  • Withholding Sales Tax
Lab : Create a Ledger Posting Group
  • Set up the Ledger Account
  • Set up the Ledger Posting Group
Lab : Create a Sales Tax AuthorityLab : Create and Assign a Vendor to the Sales Tax Authority
  • Set up the Vendor
  • Assign the Vendor to the Authority
Lab : Setup of Sales Tax Settlement Periods
  • Set up the Tax Settlement
  • Set up the Periods Tab
Lab : Set Up Sales Tax Codes Intervals
  • Edit the Tax Code Record
  • Edit the Existing Line by Adding Dates
  • Create the rest of the Lines
Lab : Comprehensive Setup of Sales Tax
  • Set up a Vendor
  • Set up accounts in the Chart of Accounts for Sales Tax Payable
  • Set up Ledger Posting Groups
  • Set up a Sales Tax Authority
  • Set up Sales Tax Settlement Periods
  • Set up Sales Tax Codes and Intervals
  • Set up a Sales Tax Group
  • Record an Invoice in the Accounts Payable Journal
Lab : Including Sales Tax in Journal AmountsLab : EU 115 Sales Tax Directive
After completing this module, students will be able to:
  • Create Ledger Posting Groups.
  • Create Sales Tax Authorities.
  • Create Sales Tax Settlement Periods.
  • Create Sales Tax Codes.
  • Create Sales Tax Intervals.
  • Create Sales Tax Groups.
  • Create Item Sales Tax Groups.
  • Set up Sales Tax Jurisdictions.
  • Create Sales Tax Transactions.
  • Create Sales Tax Exempt Data.
  • Calculate and Post Withholding Sales Tax.
Module 6: Financial FeaturesThis module focuses on features that are used across the various financial modules of Microsoft Dynamics AX. Topics include financial reason codes and the fill utility.Lessons
  • Financial Reason Codes
  • Fill Utility
After completing this module, students will be able to:
  • Create Financial Reason Codes.
  • Modify Financial Reason Codes.
  • Delete Financial Reason Codes.
  • Identify how and when to use the Fill Utility.
Module 7: Cash and Bank Management SetupThis module introduces the concepts and methods used to create and maintain bank accounts. Topics include setting up bank accounts, bank transactions types, transaction groups, bank parameters and payment purpose codes.Lessons
  • Bank Transaction Types
  • Bank Transaction Groups
  • Cash and Bank Management Parameters
  • Payment Purpose Codes
  • Bank Groups
  • Bank Accounts
  • Check Layout
Lab : Create Bank Transaction Types and Bank Transaction Groups
  • Create a Bank Transaction Type for Cash Withdrawals
  • Create a Bank Transaction Type for Bank Charges
Lab : Create a Bank Group and Bank Account
  • Create a new Account
  • Create a new Bank Group
  • Create the new Bank Account
Lab : Define a Check Layout
After completing this module, students will be able to:
  • Set up Cash Bank Transaction Types.
  • Set up Bank Transaction Groups.
  • Set up Bank Parameters.
  • Set up Payment Purpose Codes.
  • Set up Bank Groups.
  • Create a Bank Account.
  • Define the Check Layout for a Bank Account.
Module 8: Cash and Bank Management Daily ProceduresThis module focuses on the available processes to manage bank transactions including creating checks, deleting checks, voiding checks, creating a bank deposit entry, reverse a check payment, bank remittances, refund checks and bank statement reconciliation.Lessons
  • Create Checks
  • Delete a Check
  • Deposit Slips
  • Void Unposted Checks
  • Refund Checks
  • Bank Remittance
  • Payment Reversal
  • Reconcile a Bank Account
Lab : Create and Delete a Check
  • Create Checks
  • Delete Checks
Lab : Create a Deposit Slip
  • Create a Customer Payment Journal
  • Verify the Deposit Slip
  • Cancel the Deposit Slip
  • Verify the Deposit Slip is Canceled
Lab : Check Refund
After completing this module, students will be able to:
  • Create Checks.
  • Delete Checks.
  • Create a Bank Deposit Entry.
  • Void Checks.
  • Create a Refund that Prints a Check.
  • Use Bank Remittances.
  • Reverse a Posted Check Payment.
  • Reconcile Bank Statements.
Module 9: Accounts Payable SetupThis module describes the different Accounts Payable setup options. It discusses setup procedures and defaults including topics such as payment options, vendor setup and posting profiles.Lessons
  • Payment Schedule
  • Terms of Payment
  • Payment Days
  • Cash Discounts
  • Payment Fee
  • Methods of Payment
  • Vendor Groups
  • Accounts Payable Posting Profiles
  • Accounts Payable Vendors
Lab : Terms of PaymentLab : Method of Payment, Terms of Payment, and Cash Discount
  • Create a new Method of Payment
  • Assign the new Method of Payment to a Vendor
Lab : Create a Vendor Group
  • Create a new Vendor Group
  • Assign the Automatic Posting to the new Vendor Group
Lab : Vendor Posting ProfileLab : Vendors
  • Create a New Vendor
After completing this module, students will be able to:
  • Create a Payment Schedule.
  • Create Terms of Payment.
  • Create a Payment Day.
  • Set up a Cash Discount.
  • Create a Payment Fee.
  • Create a Method of Payment.
  • Set up Vendor Groups.
  • Set up Posting Profiles.
  • Create a new Vendor.
Module 10: Accounts Payable Daily ProceduresThis module discusses the various invoice journals in the Accounts Payable module. It describes what to use each invoice journal for, and how to enter transactions in each journal.Lessons
  • Invoice Journals in Accounts Payable
  • Invoice Register
  • Invoice Approval Journal
  • Vendor Invoice Pool Excluding Posting Details
  • Invoice Journal
  • Voucher Template
  • Payment Journals
  • Prepayments
  • Invoice Matching
  • Charges to Purchase Order Invoices
  • Edit Open Transactions
  • Reverse a Closed Transaction
  • Print Management
Lab : Register an Invoice
  • Pre-register the Invoice and Transfer to an Invoice Pool
  • View the Invoice in the Invoice Pool
  • Create and Post an Invoice Approval Journal
Lab : Invoice Pool Excluding PostingLab : Invoice JournalLab : Payment Journals
  • Enter Invoices
  • Use the Invoice Approval Journal
  • Make Payments for the Invoices
Lab : Setup and Track a Prepayment
  • Create a Purchase Order with a Request for a Prepayment
  • Post a Prepayment Invoice
  • Make a Payment for the Prepayment
Lab : Reverse a Closed Transaction
After completing this module, students will be able to:
  • Explain the different Invoice Journals that are available.
  • Register and Approve an Invoice Journal.
  • Create an Invoice Journal.
  • Use a Voucher Template to create Vouchers.
  • Create a Payment Proposal.
  • Run a Payment Proposal for a Marked Settlement.
  • Create a Payment Journal.
  • Generate a Payment.
  • Set up a Prepayment.
  • Post a Prepayment.
  • Describe Invoice Matching.
  • Add Charges to a Purchase Order Invoice.
  • Edit Open Transactions.
  • Reverse a Closed Transaction.
  • Define Print Management Settings.
Module 11: Accounts Receivable SetupThis module introduces the setup procedures and defaults used in the Accounts Receivable module. Topics discussed include creating payment schedules, terms of payment, payment days, payment fees, and methods of payment. Setting up customers, customer groups and posting profiles are also discussed.Lessons
  • Payment Schedule
  • Terms of Payment
  • Payment Days
  • Cash Discounts
  • Payment Fee
  • Methods of Payment
  • Customer Groups
  • Accounts Receivable Posting Profiles
  • Accounts Receivable Customers
Lab : Terms of Payment
  • Create a new Term of Payment
  • Assign a new Term of Payment
Lab : Set up a Method of PaymentLab : Create a Customer Group
  • Create a New Customer Group
  • Define Automatic Posting for the New Group
Lab : Set Up a Customer Posting ProfileLab : Create a Customer
After completing this module, students will be able to:
  • Create a Payment Schedule.
  • Create Terms of Payment.
  • Create a Payment Day.
  • Set up a Cash Discount.
  • Create a Payment Fee.
  • Create a Method of Payment.
  • Set up Customer Groups.
  • Set up Posting Profiles.
  • Create a new Customer.
Module 12: Accounts Receivable Daily ProceduresThis module discusses the free text invoice and payment journal and various other Accounts Receivable transactions that you use on a day to day basis in Accounts Receivable.Lessons
  • Free Text Invoice - Description and Usage
  • Payment Journals
  • Edit Open Transactions
  • Placing an Accounts Receivable Transaction on Hold
  • Reverse Settlements
  • Reimburse a Customer
  • Reason Codes
  • Print Management
Lab : Create Free Text InvoicesLab : Settlements - Entering an Accounts Receivable Payment Journal (Cash Receipt)Lab : Edit Open Transactions
  • Create the Invoice
  • Create and Post the Payment Journal
  • Settle the Invoice
  • Verify the Settlement
Lab : Reverse a SettlementLab : Reimburse a Customer
  • Set the Minimum Reimbursement Value
  • Create the Free Text Invoice
  • Create and Post the Payment Journal
  • Settle the Invoice and the Payment
  • Record the Reimbursement
After completing this module, students will be able to:
  • Create a Free Text Invoice.
  • Edit an Open Text Invoice.
  • Create a Payment Proposal.
  • Mark Customer Transactions for Settlement.
  • Create a Payment Journal.
  • Edit Open Transactions.
  • Place an Accounts Receivable Transaction on Hold.
  • Reverse a Settlement.
  • Reimburse a Customer.
  • Describe Reason Codes in Accounts Receivable.
  • Define Print Management Settings.
  • Examine Print Management Setup.
Before attending this course, students must have:
  • Working knowledge of Microsoft Dynamics AX.
  • Grasp of basic accounting knowledge and terms.
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