Dynamics AX 2009

Financial Management Training

AGENDA

System Navigation

General Ledger

Accounts Payable

Accounts Receivable

Year End Procedures

SYSTEM NAVIGATION

SYSTEM NAVIGATION – MAIN INTERFACE

SYSTEM NAVIGATION

Address barModule bar (change the sequence)Function listStatus bar (currency, company) SortingFilter (Ctrl G)Filter by selectionTab pages

SYSTEM NAVIGATION

Save filterFavorite and favorite query(Drag and Drop)Close allGo to main table form function

GENERAL LEDGER

CHART OF ACCOUNTS

Chart of Accounts Detail (GL > Common Forms)

CHART OF ACCOUNTS

Parameters: Account type DR/CR Requirement Balance Control Closed Exchange adjustment

Enquires Transaction Balance Period Balance

PRACTICE

Create an Account Code: 6068xx Name: Your Name + “Expenses” i.e. Alex

Expenses Account Type = Profit and Loss

DIMENSION

Dimensions (Common forms) For Analysis Department, Cost Center, Purpose E.g. Department

Travel Expense Salary Expense Insurance Expense

Transactions

PRACTICE

Create A New Department Name: Your name + “Department”

EXCHANGE RATES

Exchange Rates (Setup) Create new currency

Currency Converter Posting Accounts

Create new exchange rate lines Exchange Rates Date Backward Searching

DAILY OPERATIONS

Overview Create Journal Post Print Journal Inquire Voucher

CREATE JOURNAL

2 Methods1. Traditional Debit Credit2. Offset Accounts

For Single line entry only Equal to 1 line of debit and 1 line of credit

Offset Account type Ledger (Accounts) Customer (Sub-ledger) Vendor(Sub-ledger) Bank(Sub-ledger)

SUB-LEDGER CUSTOMER

Sun Televisio

n

• 130100 Accounts Receivable - US

Earth Televisio

n

• 130100 Accounts Receivable - US

Sky Televisio

n

• 130200 Accounts Receivable - Foreign

Customer accountsSummary Account(Locked in Journal)

CREATE JOURNAL

Currency Dimension Validate Post Print Journal

PRACTICE

Create a new journal Journal Name: General Journal Debit Your Expense Credit Petty Cash Transaction text: Your name + Expenses Validate and Post

BALANCE CONTROL ACCOUNT

Balance Control Account (Inquiry -> Balance Control

Forecast the impact to the pre-defined accounts before the posting of the journals

SAVE VOUCHER TEMPLATE

Save Voucher Template (Function -> Save voucher template)

Frequently used Voucher Amount template Percent template Load the template (Function -> Select

voucher template)

PRACTICE

Create a voucher Debit: 606500, 606600, 606700 Amount: $200, $300, $500 respectively Credit: 110180 Petty Cash, $1000 Transaction Text: Your name + Journal

Template Save as percent template Create a new journal with the template with

amount 100000 Check the result

REVERSE TRANSACTION

Reverse Transaction (Chart of Accounts detail -> Transactions)

Highlight the entry and Press reverse transactions

Enter Posting Date Check the voucher Print

PRACTICE

Reverse the journal that you created previously

REVERSING ENTRY Auto-gen an opposite sided voucher on the reversing

date For accrual, reporting requirement etc. Create a New Journal Go to General Tab Tick Reversing Entry Checkbox Enter Reversing Date Post Inquire Voucher Transactions, look for

entry generated

PRACTICE

Create an reversing entry with your expense account

PERIODIC JOURNAL

Periodic Journal (Periodic -> Periodic Journals) Recurring expenses, income, subscription

etc. Create a new entry in periodic journals Date and Transaction Date Periodic Tab

Unit Number of Units Last Date

PERIODIC JOURNAL

Retrieve Period Journal Create a new general journal Period Journal -> Retrieve Journal Enter “To Date” and Select the period Journal Press “OK” Check the generated journal Validate and Post Check the periodic journal

PRACTICE

Create your own periodic journal Retrieve it Check the periodic journal

EXCHANGE ADJUSTMENT

Case 16 May Euro: US = 135 At 16 May I entered a voucher which

Dr Petty Cash 1000 EuroCr Sales 1000 Euro

The Euro worth 1350 US at 16 May 1 June Euro: US = 120 The Euro worth 1200 US now You earn a unrealized loss of USD$150

EXCHANGE ADJUSTMENT

Select Accounts to be adjusted Select from date and to date Select Currency Code: EUR Tick Adjust Balance Sheet Accounts

EXCHANGE ADJUSTMENT

Check the result Chart of Accounts detail Select the petty cash account and press

transactions Browse the voucher

REPORTS AND ENQUIRES

Non posted journal lines (Reports > Journal) Account statement (Chart of Account details) Balance list (Reports > Periodic) Trial Balance (Reports > Periodic) Financial Statement (Reports > Periodic) Audit Trail Voucher transactions

MORE FUNCTION AND FEATURES

Approval Account Allocation Accrual Scheme

ACCOUNTS PAYABLE

VENDORS

Vendor Details (Common Forms) Vendor Group Administration -> Stopped Default Terms of Payment Default Method of Payment Cash Discount Transactions Balance

PRACTICE

Create your own vendor Name: Your name + Vendor Group: 80

TERMS OF PAYMENT

Terms of Payment (Setup > Payment) Setup > Payment Method Months, Days Payment Schedule Payment day

PRACTICE

Create your own terms of payment

METHOD OF PAYMENT

Posting Account type Payment Account Payment Control

DAILY OPERATION

With Approval Invoice Register Approval Journal

Without Approval Invoice Journal

INVOICE REGISTER

Data Entry Clerk

AP Supervisor

AP Manager

Create Invoice Register Create Invoice App. Jrn. Post Invoice App. Jrn.

INVOICE REGISTER

Invoice Register (Journal > Invoice) Create a new line Select Vendor Invoice register -> single sided The offset account will be entered in Invoice App.

Jrn Enquire the voucher generated

PRACTICE

Create your own invoice register Crediting your vendor

INVOICE POOL

Invoice Pool (Enquiry > Invoice Pool) Shows the un-approved invoice register

INVOICE APPROVAL JOURNAL

Create a new invoice approval journal Fetch vouchers Highlight and Select Fill in Debit Account Post Enquire the Voucher Generated

PRACTICE

Approve your invoice register

INVOICE JOURNAL

Invoice Journal (Journal -> Invoice) Create a new line in journal Select Vendor Account Key in Invoice# Key in transaction text Amount Ledger account Terms Cash discount Post Inquiry voucher

PRACTICE

Create a invoice Credit your Vendor Post

SETTLEMENT Payment Journal (Journals -> Payments) Create a new payment journal Select Vendor Account Function -> Settlement Mark the invoice

One Fully Settle One Partial Settle

Amend the Amount to settle if needed Cash Discount Close the window Generate Payment Post Inquire voucher

PRACTICE

Settle the invoice you created previously

REVERSE TRANSACTION

What can I do if I settled the wrong invoice? 2 Steps1. Remove the relationship between the wrong

invoice and payment Vendor Detail -> Closed transaction editing Locate the invoice/ payment Mark them Press Reverse

REVERSE TRANSACTION

2. Build a new relationship between the payment and the right invoice

Vendor Detail -> Open Transaction Editing Locate both invoice and payment Mark them Press “Update” Check the result in vendor closed transaction

PRACTICE

Reverse your settlement you created previously and mark it with a new invoice

REALIZED EXCHANGE GAIN AND LOSS

Create Invoice of EUR$10000 Rate @ 128 Settle it with EUR$10000 @ 138 Inquire the voucher generated

PRACTICE

Create your own set of invoice and settlement illustrating realized exchange gain and loss

EXCHANGE ADJUSTMENT

Case 16 May Invoice $1000 Euro with Vendor A 16 May Euro: US = 135 At 16 May you owe Vendor A USD$1350 1 June Euro: US = 120 At 1 June you owe Vendor A USD$1200 You earn a unrealized gain of USD$150

EXCHANGE ADJUSTMENT

Preparation Create an invoice of your vendor dated 16

May Credit Euro $1000, Amend the exchange rate

to 135 Post Update the exchange rate of EURO as at 1

June to 120

EXCHANGE ADJUSTMENT SIMULATION

Illustration Exchange adjustment simulation (Periodic >

Exchange adjustment Simulation Method Considered Date Date of rate Vendor (Select your vendor) Check the result

EXCHANGE ADJUSTMENT

Exchange adjustment Consideration date (Outstanding as at) Enter Transaction Text OK Locate the entry and press voucher Vendor Transactions Voucher History

REPORTS AND ENQUIRIES

Vendor Transactions (Vendor Details) Vendor Balance (Vendor Details) Open Invoice Transactions (Reports > Trans. >

Invoice) Account Statement (Reports > Trans > Vendor) History by Transaction (Reports > Trans >

Vendor) Vendor Aging Report (Reports > Status) Vendor Balance List (Reports > Status) Vendor Invoice Journal (Reports > Statistics >

Invoice)

MORE FUNCTIONS AND FEATURES

Prepayment/ Deposit

ACCOUNTS RECEIVABLE

CUSTOMER

Create your own customer Name: Your name + Customer Customer Group: 80

DAILY OPERATION

Free Text Invoice Payment Journal

FREE TEXT INVOICE

Free Text Invoice (Common forms) Create a new line Select customer Add new Invoice line Enter description Select ledger account Enter Amount Post Enquire the voucher

PRACTICE

Create your own Free Text Invoice

PAYMENT JOURNAL

The procedures are the same as in AP module

Refer to the steps in AP and try it!

REPORTS AND ENQUIRIES

Customer Transactions (Customer Details) Customer Balance (Customer Details) Invoice Journal (Reports > Trans > Invoice) Customer Transactions (Report > Trans >

Customer) Customer Aging (Report > Status) Detail Due Day List (Reports > Status) Customer Balance List (Reports > Status)

MORE FUNCTIONS AND FEATURES

Prepayment Reimbursement

YEAR END PROCEDURES

YEAR END PROCEDURES

Create New Fiscal Year Closing Entries Opening Entries (Opening Transfer)

GENERAL LEDGER

Fiscal Period (GL > Setup > Periods) Fiscal Period is independent from transaction

date Reporting Purpose Fiscal Period Status

Stopped vs Closed Module Status

GENERAL LEDGER

Fiscal Period (GL > Setup > Periods) Create New Year Start and End Length of Period Divide Period (For irregular fiscal Period) Delete Period Recal.- Period Balance

CLOSING SHEET

Closing Sheet (GL -> Periodic -> Fiscal Year Close)

Create New Closing Sheet Enter From, To Date Voucher# and Date Load Accounts Enter Transfer Value Post

OPENING TRANSACTIONS

Enter Fiscal Year End Date Confirm Retain Earning Account Enter Opening Voucher # Check Print Box

BANK MANAGEMENT

BANK MANAGEMENT

Deposit Slip Check Bank Reconciliation

THANK YOU