Course Overview
This two day course explores the basic financial functionality available in Microsoft Dynamics AX. Students learn how to set up the General Ledger, Accounts Payable, Accounts Receivable, and Bank Modules of Microsoft Dynamics AX, as well as how to create transactions. Labs encompassing the topics covered allow the students hands on practice in setting up financials in Microsoft Dynamics AX. Students completing this course should acquire a basic understanding of the General Ledger, Accounts Payable, Accounts Receivable, and Bank Modules.
Audience
This course is intended for individuals who are on the implementation team, administering or using the financial management modules in Microsoft Dynamics AX. This audience typically includes individuals who are tasked with assessing a customers business needs and advising them on the use, configuration and customization of the application. Additionally, individuals responsible for training or supporting Microsoft Dynamics AX benefit from this course.
Skills Gained
After completing this course, students will be able to:
- Create and set up the Chart of Accounts, General Ledger, Accounts Payable, Accounts Receivable and Bank modules, and Financial Statements in Microsoft Dynamics AX.
- Set up Sales Tax.
- Understand the General Ledger, Accounts Payable, Accounts Receivable, and Bank Management daily procedures.
- Enter transactions in journals including invoices and payments.
Prerequisites
Before attending this course, students must have:
- Basic knowledge of accounting principles.
- An understanding on how to navigate within Microsoft Dynamics AX.
In addition, it is recommended, but not required, that students have completed:
- The Microsoft Dynamics AX Introduction course.
Course Outline
Chapter 1: General Ledger Setup
This chapter explains the setup of the General Ledger in Microsoft Dynamics AX. It shows how to setup a company currency, additional currencies and exchange rates. It also explains how to create periods, a new fiscal year, dimension value, and a dimension focus.
Lessons:
- Set up a Currencies and Exchange Rates
- Create Periods in a New Fiscal Year
- Create Date Intevals
- Create a Dimension Value
- Create a Dimension Focus
Chapter 2: Chart of Accounts
This chapter explains the setup of the Chart of Accounts. It also shows how to create and set up account allocation terms, system account, and view inquires and reports about the Chart of Accounts.
Lessons:
- Create a New Account in the Chart of Accounts (COA)
- Set Up Account Allocation Terms
- Set Up System Accounts
- View Inquiries and Reports Related to the Chart of Accounts
Chapter 3: Journal Setup
This chapter explains the Journal setup. It shows how to create and work with journal names, journal controls, journal texts, and how to set up balance control accounts, and General Ledger parameters.
Lessons:
- Create Journal Names
- Set Up Journal Controls
- Create Journal Texts
- Set Up Balance Control Accounts
- Set Up General Ledger Parameters
Chapter 4: General Ledger Daily Procedures
This chapter explains the transactions entered in the General Ledger. It shows how to create general journals, enter and post General Ledger journal transactions, post multiple journals, create approval journals, period journals, and retrieve period journals. It also explains General Ledger transaction reversal and the inquiry and reports about General Ledger journal transactions.
Lessons:
- Create General Ledger Journals
- Enter General Ledger Journal Transactions
- Create Journal Batch Processing
- Create Approval Journals
- Create and Retrive Periodic Journals
- General Ledger Transaction Reversal
- Inquire and Report on Daily Journal Transactions
Chapter 5: Sales Tax Setup
This chapter explains the sales tax set up. It also explains how to set up the different components of sales tax, and sales tax exempt data, and how to calculate and post withholding sales tax.
Lessons:
- Create Ledger Posting Groups
- Create Sales Tax Authorities
- Create Sales Tax Settlement Periods
- Create Sales Tax Codes
- Create Sales Tax Codes Intervals
- Create a Sales Tax Groups
- Create Item Sales Tax Groups
- Create Sales Tax Transactions
- Create Sales Tax Exempt Data
- Calculate and Post Withholding Sales Tax
Chapter 6: Bank Management Setup
This chapter explains the setup of the Bank module in Microsoft Dynamics AX. Logically, a bank account is needed before creating a check to pay an invoice. This chapter explains how to setup bank transaction types and transaction groups, bank groups, and bank parameters. It also explains how to create a bank account, and defines the check layout for a bank account.
Lessons:
- Set Up Bank Transaction Types and Transaction Groups
- Set Up Bank Groups
- Set Up Payment Purpose Codes
- Set Up Bank Parameters
- Create a Bank Account
- Define the Check Layout for a Bank Account
Chapter 7: Accounts Payable Setup
This chapter explains the setup of Accounts Payable within Microsoft Dynamics AX. It explains the importance of setting up vendor groups and posting profile, and shows the different Accounts Payable setup option, procedures, and defaults related to vendor payments.
Lessons:
- Create a Payment Schedule
- Create Terms of Payment
- Create a Payment Day
- Set Up Cash Discount
- Create a Payment Fee
- Create a Method of Payment
- Set Up Vendor Groups
- Set Up Posting Profiles
- Create a New Vendor
Chapter 8: Accounts Payable Daily Procedures
This chapter explains the various journals available in Microsoft Dynamics AX Accounts Payable. It describes what each journal is used for and how transactions are entered into each of the journals.
Lessons:
- Explain the Different Invoice Journals
- Approve an Invoice Register Journal
- Create an Invoice excl. Posting
- Create an Invoice Journal
- Create a Payment Proposal
- Run a Payment Proposal for a Mark for Settlement
- Create a Payment Journal
- Generate a Payment
- Edit Open Transactions
- Reverse Settlements
Chapter 9: Accounts Receivable Setup
This chapter explains how to set up the Accounts Receivable module in Microsoft Dynamics AX. The set up of Accounts Receivable is almost a mirror image of the set up of Accounts Payable. The main topics covered are specific to Accounts Receivable or are covered as a review from Accounts Payable.
Lessons:
- Payment Schedule
- Terms of Payment
- Payment Day
- Cash Discount
- Payment Fee
- Methods of Payment
- Customer Groups
- Posting Profiles
- Create a New Customer
Chapter 10: Accounts Receivable Daily Procedures
This chapter explains the journals available for invoice entry within Accounts Receivable. Students learn how to enter a free text invoice (non-inventory) invoice as well as the payment journal.
Lessons:
- Customer Process Overview
- Create a Free Text Invoice
- Create a Payment Journal
- Edit Open Transactions
- Reverse Settlements
- Reimburse a Customer
Chapter 11: Bank Management Daily Procedures
This chapter explains the various procedures available to manage bank transactions in Microsoft Dynamics AX.
Lessons:
- Create Checks
- Delete Checks
- Create a Bank Deposit Entry
- Void Checks
- Create a Check Refund that Prints Out a Check
- Use Bank Remittances
- Cancel Payment
- Reconcile a Bank Account
Chapter 12: Financial Statements
This chapter explains the Financial Statement feature in Microsoft Dynamics AX, which is used to build a custom reporting structure.
Lessons:
- 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 Dimension Statement
- Display Balance by Dimension
