Course Overview
This two-day course explores the advanced financial functionality available in Microsoft Dynamics AX. Some of the topics covered include the set up and usage of budgeting, cash flow management, multi-currency, intercompany, and consolidated accounting. Additionally, students learn the multiple advanced payment options available in Microsoft Dynamics AX, XBRL taxonomy, collection letters and interest and year-end close functionality. This course is meant to be an extension of the Financials I - Microsoft Dynamics AX course by adding advanced topics to the base knowledge covered in Financials I.
Audience
This course is intended for individuals on the implementation team, administrating or using the financial management modules in Microsoft Dynamics AX. This audience typically includes individuals tasked with assessing a customer's 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.
Chapter 1: Budgeting
The purpose of this chapter is to introduce students to the budgeting functionality within Microsoft Dynamics AX. Microsoft Dynamics AX uses a budget model/submodel setup and students learn how to set up each of these. Students are also shown how to use period allocation keys, generate and print budgets, copy and modify budgets and how to view budget data.
Lessons
- Create Budget Models and Submodels
- Create Period Allocation Keys
- Enter Budget Numeric Data
- Generate and Print Budgets
- Additional Budgeting Functionality
- Copy and Modify Budgets
- View Budget Data
Labs
- Lab 1.1: Create a Budget Model and Submodel
- Lab 1.2: Create Period Allocation Keys Using the Wizard
- Lab 1.3: Enter and Generate a Budget
After completing this module, students should be able to:
- Create budget models and submodels within Microsoft Dynamics AX.
- Create period allocation keys.
- Generate and print budgets.
- Copy and modify budgets.
- View budget data.
Chapter 2: Cash Flow Management
This chapter focuses on the cash flow functionality in Microsoft Dynamics AX. Every company needs to know how much cash they have available at any given time. Students learn how the modules interrelate to generate cash flow numbers. They also learn the steps involved in setting up cash flow forecasting as well as how to inquire and report on the cash flow transactions.
Lessons
- 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 On-line Data and Print Cash Flow Reports
Labs
- Lab 2.1: Review Accounts Receivable Parameter Setup
- Lab 2.2: Review Customer Posting Profile Setup
- Lab 2.3: Review Customer Groups Setup
- Lab 2.4: Set Up a Ledger Account for Cash Flow Forecasting
- Lab 2.5: Set Up a Dependent Ledger Account
- Lab 2.6: Create a Budget Entry to Include in Cash Flow
- Lab 2.7: Create a Sales Order to Include in Cash Flow
- Lab 2.8: Calculate Cash Flow Transactions
After completing this chapter, students should be able to:
- Identify and understand the relationship of cash flow and other modules.
- Set up cash flow forecasting.
- Define a cash flow forecast budget model.
- Create cash flow transactions.
- Calculate cash flow transactions.
- View on-line data and print cash flow reports.
Chapter 3: Multi-Currency
This chapter focuses on the multi-currency capabilities of Microsoft Dynamics AX. Microsoft Dynamics AX has the ability to work with multiple currencies. Students learn how to set up multi-currency as well as the different options available such as the currency rounding and how to run exchange rate adjustments.
Lessons
- Exchange Rate Adjustments
- Accounts Receivable and Accounts Payable Exchange Rate Adjustment
- Set Up Currency Rounding
Labs
- Lab 3.1: Accounts Receivable Exchange Rate Adjustments
- Lab 3.2: Rounding
After completing this chapter, students should be able to:
- Make exchange rate adjustments.
- Set up currency rounding.
Chapter 4: Advanced Payments
This chapter is dedicated to the processing and setup of advanced customer and vendor payments in Microsoft Dynamics AX. These advanced payments include bridging accounts, electronic vendor and customer payments, prepayments and bills of exchange. Students also learn several of the options available when setting up a method of payment.
Lessons
- Create and Process a Bridging Account Methods of Payment
- Set Up and Process Electronic Vendor Payments
- Set Up and Process Electronic Customer Payments
- Set Up and Process Prepayments
- Set Up and Process Bills of Exchange
- Set Up and Apply Ledger Accruals
Labs
- Lab 4.1: Bridging Accounts
- Lab 4.2: Electronic Vendor Payments
- Lab 4.3: Electronic Customer Payments
- Lab 4.4: Prepayments
- Lab 4.5: Bill of Exchange
- Lab 4.6: Ledger Accrual
After completing this chapter, students should be able to:
- Set up Methods of Payment.
- Set up and process the following advanced payments, including:
- Bridging Accounts
- Vendor and Customer Electronic Payments
- Prepayments
- Bills of Exchange
- Ledger Accruals
Chapter 5: Intercompany Accounting
The focus of this chapter is the intercompany accounting functionality in Microsoft Axapta. Since Microsoft Dynamics AX companies reside in the same database, intercompany functionality requires limited set up. Students learn the necessary steps involved in the setup as well as how to create journal transactions that affect more than one company's ledger.
Lessons
- Review Posting Intercompany Transactions
- Review Setup for Intercompany Accounting
- Post an Intercompany Transaction
- Trace an Intercompany Transactions
Lab: Intercompany Accounting
- Lab 5.1: Set Up Posting Relationships
- Lab 5.2: Enter and Post an Intercompany Transaction
- Lab 5.3: Trace an Intercompany Transaction
After completing this module, students should be able to:
- Set up intercompany accounting.
- Create an intercompany accounting transaction.
- Trace an intercompany transaction.
Chapter 6: Consolidations
This chapter explains the functionality and flexibility of Microsoft Dynamics AX 4.0 in consolidating subsidiary companies into a single consolidated (parent) company. Performing consolidations in Microsoft Dynamics AX 4.0 involves setting up the consolidation company, setting up the subsidiary companies, and performing the consolidation.
Lessons
- Set Up Consolidation Company
- Set Up a Subsidiary Company
- Perform a Consolidation
- Consolidation According to the FASB 52 Regulation
- Consolidations Inquiry
- View and Delete Consolidation Transactions
Labs
- Lab 6.1: Set Up General Ledger Parameters
- Lab 6.2: Set Up System Account and Currency
- Lab 6.3: Set Up the Chart of Accounts
- Lab 6.4: Set Up the Subsidiary Company
- Lab 6.5: Perform a Consolidation
- Lab 6.6: Consolidations Inquiry
- Lab 6.7: View and Delete Consolidation Transactions
