Table of Contents Introduction 0-1 Welcome... 0-1 Microsoft Dynamics Courseware Contents... 0-2 Documentation Conventions... 0-3 Student Objectives... 0-4 Chapter 1: General Ledger Setup 1-1 Objectives... 1-1 Introduction... 1-1 Currency and Exchange Rate Setup... 1-2 Lab 1.1 - Set up a Currency Exchange Rate... 1-12 Periods and Fiscal Year Setup... 1-14 Lab 1.2 - Create Periods in a New Fiscal Year... 1-18 Date Intervals... 1-19 Reason Codes... 1-23 Financial Dimensions... 1-25 Lab 1.3 - Assign Ledger Account Dimension Values... 1-32 Financial Dimension Sets... 1-33 Period Allocations... 1-34 Summary... 1-44 Test Your Knowledge... 1-45 Quick Interaction: Lessons Learned... 1-47 Solutions... 1-48 Chapter 2: Chart of Accounts Setup 2-1 Objectives... 2-1 Introduction... 2-1 Main Account Categories... 2-2 Chart of Accounts... 2-4 Main Account Information... 2-7 Main Account Administration Information... 2-9 Main Account Setup Information... 2-11 Configuring Account Structures... 2-12 Advanced Rules... 2-14 Ledger Setup... 2-17 Lab 2.1 - Enter a Main Account... 2-22 Lab 2.2 - Account Allocation Terms... 2-23 Accounts for Automatic Transactions... 2-24 Inquiries and Reports Related to the Chart of Accounts... 2-26 Summary... 2-28 Quick Interaction: Lessons Learned... 2-31 Solutions... 2-32 Chapter 3: Journal Setup 3-1 Objectives... 3-1 Introduction... 3-1 Journal Setup... 3-2 Journal Controls... 3-9 Journal Descriptions... 3-10 i
Financials I in Microsoft Dynamics AX 2012 Balance Control Accounts... 3-11 General Ledger Parameters... 3-13 Lab 3.1 - Set Up Journals... 3-15 Summary... 3-17 Test Your Knowledge... 3-18 Quick Interaction: Lessons Learned... 3-20 Solutions... 3-21 Chapter 4: General Ledger Daily Procedures 4-1 Objectives... 4-1 Introduction... 4-1 General Ledger Journals... 4-2 Enter General Ledger Transactions... 4-4 Lab 4.1 - Daily Transactions... 4-7 Lab 4.2 - Daily Transactions with Balance Control... 4-9 Posting Multiple Journals... 4-11 Approval Journals... 4-13 Example: Gathering Data for an Approval Journal... 4-17 Voucher Templates... 4-18 Periodic Journals... 4-20 Lab 4.3 - Entering Periodic Transactions... 4-24 General Ledger Transaction Reversal... 4-27 Reversing Entries - General Journals... 4-31 Inquire and View Reports on Daily Journal Transactions... 4-32 Summary... 4-34 Test Your Knowledge... 4-35 Quick Interaction: Lessons Learned... 4-37 Solutions... 4-38 Chapter 5: Sales Tax Setup 5-1 Objectives... 5-1 Introduction... 5-1 Sales Tax Overview... 5-2 Ledger Posting Groups... 5-4 Lab 5.1 - Create a Ledger Posting Group... 5-10 Sales Tax Authorities... 5-12 Lab 5.2 - Create a Sales Tax Authority... 5-15 Lab 5.3 - Create and Assign a Vendor to the Sales Tax Authority... 5-16 Sales Tax Settlement Periods... 5-18 Lab 5.4 - Setup of Sales Tax Settlement Periods... 5-22 Sales Tax Codes... 5-24 Sales Tax Codes Intervals... 5-32 Lab 5.5 - Set Up Sales Tax Codes Intervals... 5-36 Sales Tax Groups... 5-38 Item Sales Tax Groups... 5-43 Sales Tax Jurisdictions... 5-45 Lab 5.6 - Comprehensive Setup of Sales Tax... 5-47 Lab 5.7 - Including Sales Tax in Journal Amounts... 5-54 Sales Tax Transactions... 5-55 Sales Tax Exemption... 5-61 ii
Table of Contents Lab 5.8 - EU 115 Sales Tax Directive... 5-63 Withholding Sales Tax... 5-66 Summary... 5-69 Test Your Knowledge... 5-70 Quick Interaction: Lessons Learned... 5-73 Solutions... 5-74 Chapter 6: Financial Features 6-1 Objectives... 6-1 Introduction... 6-1 Financial Reason Codes... 6-2 Fill Utility... 6-7 Summary... 6-8 Test Your Knowledge... 6-9 Quick Interaction: Lessons Learned... 6-10 Solutions... 6-11 Chapter 7: Cash and Bank Management Setup 7-1 Objectives... 7-1 Introduction... 7-1 Bank Transaction Types... 7-2 Bank Transaction Groups... 7-4 Lab 7.1 - Create Bank Transaction Types and Bank Transaction Groups... 7-5 Cash and Bank Management Parameters... 7-7 Payment Purpose Codes... 7-9 Bank Groups... 7-10 Bank Accounts... 7-11 Lab 7.2 - Create a Bank Group and Bank Account... 7-16 Check Layout... 7-18 Lab 7.3 - Define a Check Layout... 7-23 Summary... 7-25 Test Your Knowledge... 7-26 Quick Interaction: Lessons Learned... 7-27 Solutions... 7-28 Chapter 8: Cash And Bank Management Daily Procedures 8-1 Objectives... 8-1 Introduction... 8-1 Create Checks... 8-2 Delete a Check... 8-3 Lab 8.1 - Create and Delete a Check... 8-4 Deposit Slips... 8-6 Lab 8.2 - Create a Deposit Slip... 8-9 Void Unposted Checks... 8-11 Refund Checks... 8-11 Lab 8.3 - Check Refund... 8-13 Bank Remittance... 8-14 Payment Reversal... 8-15 Reconcile a Bank Account... 8-17 Summary... 8-20 iii
Financials I in Microsoft Dynamics AX 2012 Test Your Knowledge... 8-21 Quick Interaction: Lessons Learned... 8-23 Solutions... 8-24 Chapter 9: Accounts Payable Setup 9-1 Objectives... 9-1 Introduction... 9-1 Payment Schedule... 9-2 Terms of Payment... 9-4 Payment Days... 9-7 Lab 9.1 - Terms of Payment... 9-8 Cash Discounts... 9-9 Payment Fee... 9-14 Methods of Payment... 9-18 Lab 9.2 - Method of Payment, Terms of Payment, and Cash Discount... 9-24 Vendor Groups... 9-26 Lab 9.3 - Create a Vendor Group... 9-30 Accounts Payable Posting Profiles... 9-31 Lab 9.4 - Vendor Posting Profile... 9-34 Accounts Payable Vendors... 9-36 Lab 9.5 - Vendors... 9-42 Summary... 9-43 Test Your Knowledge... 9-44 Quick Interaction: Lessons Learned... 9-45 Solutions... 9-46 Chapter 10: Accounts Payable Daily Procedures 10-1 Objectives... 10-1 Introduction... 10-1 Invoice Journals in Accounts Payable... 10-2 Invoice Register... 10-2 Invoice Approval Journal... 10-13 Lab 10.1 - Register an Invoice... 10-16 Vendor Invoice Pool Excluding Posting Details... 10-19 Lab 10.2 - Invoice Pool Excluding Posting... 10-21 Invoice Journal... 10-23 Lab 10.3 - Invoice Journal... 10-25 Voucher Template... 10-27 Payment Journals... 10-29 Lab 10.4 - Payment Journals... 10-39 Prepayments... 10-43 Lab 10.5 - Setup and Track a Prepayment... 10-47 Invoice Matching... 10-50 Charges to Purchase Order Invoices... 10-60 Edit Open Transactions... 10-64 Reverse a Closed Transaction... 10-66 Lab 10.6 - Reverse a Closed Transaction... 10-68 Print Management... 10-69 Summary... 10-76 Test Your Knowledge... 10-77 iv
Table of Contents Quick Interaction: Lessons Learned... 10-79 Solutions... 10-80 Chapter 11: Accounts Receivable Setup 11-1 Objectives... 11-1 Introduction... 11-1 Payment Schedule... 11-2 Terms of Payment... 11-4 Payment Days... 11-7 Lab 11.1 - Terms of Payment... 11-9 Cash Discount... 11-10 Payment Fee... 11-13 Methods of Payment... 11-18 Lab 11.2 - Set up a Method of Payment... 11-23 Customer Groups... 11-24 Lab 11.3 - Create a Customer Group... 11-28 Accounts Receivable Posting Profiles... 11-29 Lab 11.4 - Set Up a Customer Posting Profile... 11-32 Accounts Receivable Customers... 11-34 Lab 11.5 - Create a Customer... 11-41 Summary... 11-43 Test Your Knowledge... 11-44 Quick Interaction: Lessons Learned... 11-46 Solutions... 11-47 Chapter 12: Accounts Receivable Daily Procedures 12-1 Objectives... 12-1 Introduction... 12-1 Free Text Invoice - Description and Usage... 12-2 Lab 12.1 - Create Free Text Invoices... 12-10 Payment Journals... 12-12 Lab 12.2 - Settlements - Entering an Accounts Receivable Payment Journal (Cash Receipt)... 12-23 Edit Open Transactions... 12-25 Lab 12.3 - Edit Open Transactions... 12-29 Placing an Accounts Receivable Transaction on Hold... 12-31 Reverse Settlements... 12-32 Lab 12.4 - Reverse a Settlement... 12-34 Reimburse a Customer... 12-35 Lab 12.5 - Reimburse a Customer... 12-36 Reason Codes... 12-39 Print Management... 12-40 Summary... 12-47 Test Your Knowledge... 12-48 Quick Interaction: Lessons Learned... 12-50 Solutions... 12-51 v
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