Prerequisites
Before attending this course, students must have:
- General knowledge of Microsoft Windows
- Basic knowledge of accounting principles
Course Outline
Chapter 1: Overview and Setup
This chapter provides a general overview of the features and benefits of using the General Ledger module in an integrated environment. and focuses on how this module integrates with other modules in the Microsoft Dynamics GP application. This chapter also focuses on the setup procedures for the General Ledger module. The chapter examines the different types of accounts in General Ledger, and how to define budgets for accounts using Microsoft Dynamics GP or Microsoft Excel. There is a section that also focuses on Quick Journals which increase efficiency and accuracy for posting transactions that occur on a regular basis but have varying amounts posted to each account. Entering beginning balances and the options available for this are also examined.
Main Topics
- General Ledger Features and Benefits
- Integration
- General Ledger Setup
- Account Categories
- Posting Accounts Setup
- Unit Accounts Setup
- Fixed Allocation Account Setup
- Variable Allocation Account Setup
- Account Segment Setup
- Mass Modify Chart of Accounts
- Defining the Retained Earnings Account
- Setting up Budgets
- Excel-based Budgeting
- Budget Maintenance
- Quick Journal Setup
- Transaction Matching Setup
- Entering Beginning Balances
Labs
- Entering a Posting Account
- Entering a Unit Accounts
- Entering a Fixed Allocation Account
- Entering a Variable Allocation Accounts
- Mass Modify the Chart of Accounts
- Account Segment Setup
- Creating a Blank Budget in Microsoft Excel
- Importing a Budget from Excel
- Quick Journal Setup
After completing this module, students will be able to:
- Identify the features and benefits available in General Ledger.
- Discuss integration that takes place between General Ledger and other modules.
- Identify the navigation used to access the windows used to set up General Ledger.
- Customize settings for the General Ledger module.
- Enter a chart of accounts; posting, unit, fixed allocation and variable allocation.
- Define a retained earnings account and understand the options available.
- Enter budget information.
- Create Quick Journal entries to speed data entry and minimize errors.
- Enter Beginning Balances for their chart of accounts.
Chapter 2: Daily Procedures
This chapter defines the ways that transactions can be entered and posted in General Ledger. The chapter explores the difference between transaction level and batch level posting, and the methods for posting batches. The chapter also demonstrates how to use clearing entries to transfer the balance of an account that is no longer being used to another account. In addition to these topics, the chapter covers linking transactions for analysis purposes using Transaction Matching and the ability to recover batches should there be a power fluctuation or posting interruption.
Main Topics
- Batch Entry
- Transaction Entry
- Calculate Taxes in General Ledger
- Clearing Transaction Entry
- Quick Journal Entry
- Linking Transactions
- Batch Recovery
Labs
- Transaction Entry, Unit Accounts
- Transaction Entry, Allocation Accounts
- Transaction Entry, Recurring Transactions
- Clearing Entry
- Quick Journal Entry
After completing this module, students will be able to:
- Enter transactions involving posting, unit and allocation accounts.
- Modify their chart of accounts.
- Use Transaction Matching for analysis purposes.
- Print edit lists and post transactions.
Chapter 3: Additional Functionality
This chapter examines how to use Multidimensional Analysis, enter Intercompany transactions and set up Organizational Structures to use account security.
Main Topics
- Multidimensional Analysis Groups and Codes
- Assigning Analysis Groups to Accounts
- Entering Transactions using Multidimensional Analysis
- Performing Multidimensional Analysis Inquiries
- Defining Intercompany Relationships
- Entering Intercompany Transactions
- Posting Intercompany Transactions
- Organizational Structures Setup
- Define Organizational Relationships
- Assigning User Classes to Organizational Structures
- Assigning Users to Organizational Structures
- Assigning a Range of Accounts to Organizational Structures
- Assigning Individual Accounts to Organizational Structures
- Activating Account Security
Labs
- Multidimensional Analysis
- Organizational Structure Setup
- Organization Tree Setup
- Organizational Structure User Setup
- Organizational Structure Mass Assignment
After completing this module, students will be able to:
- Use the functionality available in Multidimensional Analysis.
- Set up Analysis Groups and Analysis Codes.
- Enter transactions using Analysis Codes.
- Retrieve analysis information from posted transactions.
- Set up Intercompany relationships.
- Enter intercompany transactions in the origination company.
- Post intercompany transactions in the destination company.
- Trace intercompany transaction back to the originating entry.
- Define discrete business entities using Organizational Structures.
- Define relationships between multiple business entities.
- Define account security levels based on their organizational structure.
Chapter 4: Maintaining Records
This chapter examines the functionality available to maintain General Ledger records. There is a section that focuses on correcting posted entries as well as changing and deleting account records. Information about the reconcile features in General Ledger are discussed, including the capability of reconciling to the payables and receivables sub-ledgers. Retrieving information is also a big focus of this chapter. Time is spent discussing the inquiry windows and how reports can be generated from the General Ledger module using report options and groups.
Main Topics
- Correcting a Posted Transaction
- Change, Inactivate and Delete Account Records
- Reconcile
- Reconcile to GL
- Remove History
- Archive Matched Transactions
- Account Rollups
- Using Inquiries
- Report Options and Printing
- Report Groups
- Report List
After completing this module, students will be able to:
- Correct posted entries.
- Change and delete records.
- Use inquiries to retrieve information.
- Use Account Rollup Inquiry.
- Set up report options and report groups for reporting purposes.
Chapter 5: Period-End Procedures
This chapter examines the process of closing an accounting period and the fiscal year. The steps necessary to complete each phase of the closing process are discussed for the end of a period as well as a fiscal year. The chapter looks at the reports and financial statements that should be printed before performing the closing process. Time is spent examining what actually takes place during the closing process and the two approaches that an organization may use for this process.
Main Topics
- Period-End Closing
- Year-End Closing
- Quick Financial Statements
- Printing Financial Statements
- Advanced Financial Analysis
After completing this module, students will be able to:
- Complete period-end processes for an accounting period in General Ledger.
- Consolidate periods and be aware of the effects of performing the consolidation process.
- Complete the processes that should be performed at the end of a fiscal year.
- Create and print quick financial statements.
- Understand basic concepts of using Advanced Financial Analysis
